ONEOK, Inc. (NYSE:OKE) Position Boosted by Wetherby Asset Management Inc.

Wetherby Asset Management Inc. grew its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 3.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,486 shares of the utilities provider’s stock after purchasing an additional 423 shares during the period. Wetherby Asset Management Inc.’s holdings in ONEOK were worth $997,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of OKE. C J Advisory Inc bought a new position in shares of ONEOK during the 1st quarter valued at about $26,000. Pinnacle Financial Partners Inc. bought a new position in shares of ONEOK during the 1st quarter valued at about $27,000. Buffington Mohr McNeal bought a new position in shares of ONEOK during the 1st quarter valued at about $28,000. IMA Wealth Inc. bought a new position in shares of ONEOK during the 2nd quarter valued at about $32,000. Finally, Moody National Bank Trust Division boosted its position in shares of ONEOK by 74.4% during the 1st quarter. Moody National Bank Trust Division now owns 471 shares of the utilities provider’s stock valued at $33,000 after purchasing an additional 201 shares in the last quarter. Institutional investors own 74.52% of the company’s stock.

Shares of OKE traded down $1.04 during midday trading on Wednesday, hitting $67.06. The stock had a trading volume of 52,588 shares, compared to its average volume of 1,981,568. ONEOK, Inc. has a fifty-two week low of $50.26 and a fifty-two week high of $72.38. The stock’s 50-day moving average price is $69.10. The company has a market capitalization of $29.32 billion, a price-to-earnings ratio of 24.08, a P/E/G ratio of 2.01 and a beta of 1.17. The company has a current ratio of 0.81, a quick ratio of 0.60 and a debt-to-equity ratio of 1.70.

ONEOK (NYSE:OKE) last posted its quarterly earnings results on Tuesday, July 30th. The utilities provider reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.04. The business had revenue of $2.46 billion during the quarter, compared to analyst estimates of $2.87 billion. ONEOK had a net margin of 10.67% and a return on equity of 19.30%. The firm’s revenue was down 17.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.68 earnings per share. On average, equities analysts anticipate that ONEOK, Inc. will post 3.08 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 14th. Stockholders of record on Tuesday, August 6th will be given a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a dividend yield of 5.31%. This is a positive change from ONEOK’s previous quarterly dividend of $0.87. The ex-dividend date of this dividend is Monday, August 5th. ONEOK’s dividend payout ratio is 124.46%.

Several research firms have recently weighed in on OKE. Argus raised their price objective on shares of ONEOK to $82.00 and gave the company an “average” rating in a research report on Tuesday. Citigroup raised their price objective on shares of ONEOK from $67.00 to $77.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Zacks Investment Research cut shares of ONEOK from a “buy” rating to a “hold” rating in a report on Monday, May 20th. Seaport Global Securities cut shares of ONEOK from a “buy” rating to a “neutral” rating and set a $69.07 target price for the company. in a report on Monday, April 22nd. Finally, Mitsubishi UFJ Financial Group raised their target price on shares of ONEOK to $77.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Thirteen equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $72.16.

ONEOK Company Profile

ONEOK, Inc, together with its subsidiaries, engages in the gathering, processing, storage, and transportation of natural gas in the United States. It operates through Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments. The company owns natural gas gathering pipelines and processing plants in the Mid-Continent and Rocky Mountain regions.

Further Reading: Buyback

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Institutional Ownership by Quarter for ONEOK (NYSE:OKE)

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