Greenleaf Trust Purchases 646 Shares of ONEOK, Inc. (NYSE:OKE)

Greenleaf Trust increased its stake in ONEOK, Inc. (NYSE:OKE) by 7.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,352 shares of the utilities provider’s stock after acquiring an additional 646 shares during the quarter. Greenleaf Trust’s holdings in ONEOK were worth $657,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Peoples Bank KS acquired a new position in ONEOK in the third quarter valued at approximately $25,000. Beacon Capital Management LLC lifted its stake in ONEOK by 90.7% in the fourth quarter. Beacon Capital Management LLC now owns 408 shares of the utilities provider’s stock valued at $29,000 after buying an additional 194 shares during the period. Loomis Sayles & Co. L P lifted its stake in ONEOK by 605.1% in the third quarter. Loomis Sayles & Co. L P now owns 557 shares of the utilities provider’s stock valued at $35,000 after buying an additional 478 shares during the period. SOA Wealth Advisors LLC. lifted its stake in ONEOK by 283.5% in the fourth quarter. SOA Wealth Advisors LLC. now owns 510 shares of the utilities provider’s stock valued at $36,000 after buying an additional 377 shares during the period. Finally, Moisand Fitzgerald Tamayo LLC lifted its stake in ONEOK by 1,690.9% in the third quarter. Moisand Fitzgerald Tamayo LLC now owns 591 shares of the utilities provider’s stock valued at $37,000 after buying an additional 558 shares during the period. 69.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. JPMorgan Chase & Co. boosted their price target on ONEOK from $81.00 to $85.00 and gave the company an “overweight” rating in a research note on Wednesday, March 13th. Raymond James boosted their price objective on ONEOK from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Friday, January 19th. UBS Group boosted their price objective on ONEOK from $80.00 to $87.00 and gave the company a “buy” rating in a report on Tuesday, February 27th. US Capital Advisors downgraded ONEOK from an “overweight” rating to a “hold” rating in a report on Wednesday, March 20th. Finally, Citigroup boosted their price objective on ONEOK from $73.00 to $83.00 and gave the company a “buy” rating in a report on Tuesday, March 5th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $82.25.

ONEOK Trading Up 0.3 %

Shares of ONEOK stock opened at $79.90 on Tuesday. The company has a market capitalization of $46.63 billion, a P/E ratio of 14.40, a price-to-earnings-growth ratio of 4.87 and a beta of 1.65. The company has a current ratio of 0.90, a quick ratio of 0.67 and a debt-to-equity ratio of 1.29. The stock has a fifty day simple moving average of $76.94 and a 200 day simple moving average of $71.29. ONEOK, Inc. has a 12-month low of $55.91 and a 12-month high of $80.84.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Monday, February 26th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.03). ONEOK had a net margin of 15.04% and a return on equity of 22.57%. The business had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.57 billion. During the same quarter last year, the company earned $1.08 EPS. On average, sell-side analysts anticipate that ONEOK, Inc. will post 4.99 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be given a dividend of $0.99 per share. The ex-dividend date is Tuesday, April 30th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 4.96%. ONEOK’s dividend payout ratio is presently 71.35%.

ONEOK announced that its Board of Directors has initiated a share repurchase program on Wednesday, January 17th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the utilities provider to buy up to 4.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Insider Activity

In related news, Director Wayne Thomas Smith acquired 2,700 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The shares were acquired at an average price of $75.25 per share, with a total value of $203,175.00. Following the acquisition, the director now owns 2,700 shares of the company’s stock, valued at approximately $203,175. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.20% of the company’s stock.

ONEOK Company Profile

ONEOK, Inc engages in gathering, processing, fractionation, storage, transportation, and marketing of natural gas and natural gas liquids (NGL) in the United States. It operates through four segments: Natural Gas Gathering and Processing, Natural Gas Liquids, Natural Gas Pipelines, and Refined Products and Crude.