Commerce Bank Purchases 28,366 Shares of ONEOK, Inc. (OKE)

Commerce Bank increased its position in ONEOK, Inc. (NYSE:OKE) by 11.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 285,331 shares of the utilities provider’s stock after buying an additional 28,366 shares during the quarter. Commerce Bank owned 0.07% of ONEOK worth $15,810,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Delta Asset Management LLC TN acquired a new position in shares of ONEOK in the second quarter valued at approximately $103,000. Ropes Wealth Advisors LLC acquired a new position in shares of ONEOK in the second quarter valued at approximately $103,000. Smithfield Trust Co. increased its stake in shares of ONEOK by 107.7% in the second quarter. Smithfield Trust Co. now owns 1,994 shares of the utilities provider’s stock valued at $104,000 after buying an additional 1,034 shares during the period. Winslow Evans & Crocker Inc. increased its stake in shares of ONEOK by 462.9% in the third quarter. Winslow Evans & Crocker Inc. now owns 1,970 shares of the utilities provider’s stock valued at $109,000 after buying an additional 1,620 shares during the period. Finally, Mercer Capital Advisers Inc. increased its stake in shares of ONEOK by 229.8% in the third quarter. Mercer Capital Advisers Inc. now owns 1,979 shares of the utilities provider’s stock valued at $110,000 after buying an additional 1,379 shares during the period. 53.22% of the stock is owned by institutional investors.

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OKE has been the subject of several recent research reports. Barclays PLC initiated coverage on ONEOK in a research note on Tuesday, September 5th. They issued an “equal weight” rating and a $58.00 price objective for the company. Jefferies Group LLC reaffirmed a “hold” rating and issued a $52.00 price objective (up previously from $51.00) on shares of ONEOK in a research note on Friday, September 1st. Mizuho initiated coverage on ONEOK in a report on Tuesday, October 10th. They issued a “neutral” rating and a $59.00 target price on the stock. Zacks Investment Research upgraded ONEOK from a “hold” rating to a “strong-buy” rating and set a $65.00 target price on the stock in a report on Tuesday, October 17th. Finally, J P Morgan Chase & Co reiterated a “neutral” rating and issued a $58.00 target price on shares of ONEOK in a report on Monday, September 11th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $59.07.

ONEOK, Inc. (NYSE OKE) traded down $0.55 during trading on Thursday, hitting $50.83. The company’s stock had a trading volume of 2,611,400 shares, compared to its average volume of 3,287,157. The company has a market cap of $19,700.98, a PE ratio of 32.11, a price-to-earnings-growth ratio of 3.71 and a beta of 1.29. ONEOK, Inc. has a 52-week low of $47.14 and a 52-week high of $59.47. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.55 and a quick ratio of 0.41.

ONEOK (NYSE:OKE) last posted its quarterly earnings results on Tuesday, October 31st. The utilities provider reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.06). The business had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.80 billion. ONEOK had a return on equity of 9.25% and a net margin of 3.76%. During the same quarter in the previous year, the company posted $0.43 earnings per share. sell-side analysts expect that ONEOK, Inc. will post 1.73 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 14th. Shareholders of record on Monday, November 6th were issued a dividend of $0.745 per share. This represents a $2.98 dividend on an annualized basis and a dividend yield of 5.86%. The ex-dividend date was Friday, November 3rd. ONEOK’s payout ratio is 186.25%.

ONEOK Company Profile

ONEOK, Inc is an energy midstream service provider in the United States. The Company owns and operates natural gas liquids (NGL) systems, and is engaged in the gathering, processing, storage and transportation of natural gas. THe Company’s operations include a 38,000-mile integrated network of NGL and natural gas pipelines, processing plants, fractionators and storage facilities in the Mid-Continent, Williston, Permian and Rocky Mountain regions.

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Institutional Ownership by Quarter for ONEOK (NYSE:OKE)

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