Steel Peak Wealth Management LLC bought a new stake in ONEOK, Inc. (NYSE:OKE) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 13,628 shares of the utilities provider’s stock, valued at approximately $1,031,000.
A number of other large investors have also recently modified their holdings of the stock. Allworth Financial LP lifted its stake in ONEOK by 43.1% in the 4th quarter. Allworth Financial LP now owns 465 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 140 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its stake in ONEOK by 14.4% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 1,187 shares of the utilities provider’s stock valued at $90,000 after purchasing an additional 149 shares during the last quarter. Haverford Trust Co. lifted its stake in ONEOK by 5.2% in the 3rd quarter. Haverford Trust Co. now owns 3,110 shares of the utilities provider’s stock valued at $229,000 after purchasing an additional 155 shares during the last quarter. Moors & Cabot Inc. lifted its stake in ONEOK by 0.3% in the 3rd quarter. Moors & Cabot Inc. now owns 45,389 shares of the utilities provider’s stock valued at $3,348,000 after purchasing an additional 157 shares during the last quarter. Finally, Washington Trust Bank lifted its position in ONEOK by 3.1% during the third quarter. Washington Trust Bank now owns 5,641 shares of the utilities provider’s stock worth $416,000 after acquiring an additional 170 shares during the last quarter. Institutional investors and hedge funds own 73.75% of the company’s stock.
Several equities research analysts have issued reports on the stock. ValuEngine upgraded shares of ONEOK from a “sell” rating to a “hold” rating in a research report on Tuesday, February 4th. Tudor Pickering assumed coverage on shares of ONEOK in a research report on Friday, November 8th. They set a “buy” rating and a $74.00 price objective for the company. Wolfe Research downgraded shares of ONEOK from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 8th. Morgan Stanley assumed coverage on shares of ONEOK in a research report on Monday, January 6th. They set an “underweight” rating and a $63.00 price objective for the company. Finally, Goldman Sachs Group upgraded shares of ONEOK from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $73.00 to $81.00 in a research report on Sunday, November 3rd. One analyst has rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $75.60.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Monday, January 27th will be paid a $0.935 dividend. This represents a $3.74 dividend on an annualized basis and a yield of 4.86%. This is a boost from ONEOK’s previous quarterly dividend of $0.92. The ex-dividend date is Friday, January 24th. ONEOK’s dividend payout ratio (DPR) is 134.53%.
In related news, CAO Mary M. Spears sold 2,000 shares of ONEOK stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $71.85, for a total value of $143,700.00. Following the transaction, the chief accounting officer now directly owns 10,263 shares of the company’s stock, valued at $737,396.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mark W. Helderman acquired 6,094 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The stock was purchased at an average cost of $73.36 per share, for a total transaction of $447,055.84. Company insiders own 0.60% of the company’s stock.
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.
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