Parkside Financial Bank & Trust Acquires 522 Shares of ONEOK, Inc. (NYSE:OKE)

Parkside Financial Bank & Trust boosted its stake in shares of ONEOK, Inc. (NYSE:OKE) by 11.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 5,071 shares of the utilities provider’s stock after buying an additional 522 shares during the period. Parkside Financial Bank & Trust’s holdings in ONEOK were worth $356,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of ONEOK by 10.3% in the 3rd quarter. Vanguard Group Inc. now owns 59,237,038 shares of the utilities provider’s stock worth $3,757,405,000 after buying an additional 5,525,010 shares during the last quarter. Deutsche Bank AG lifted its holdings in ONEOK by 37.7% in the third quarter. Deutsche Bank AG now owns 13,292,341 shares of the utilities provider’s stock valued at $843,133,000 after acquiring an additional 3,636,660 shares during the period. Blackstone Inc. increased its holdings in ONEOK by 3,478.3% in the third quarter. Blackstone Inc. now owns 3,578,316 shares of the utilities provider’s stock valued at $226,973,000 after buying an additional 3,478,316 shares in the last quarter. Invesco Ltd. grew its position in shares of ONEOK by 65.9% during the 3rd quarter. Invesco Ltd. now owns 8,132,301 shares of the utilities provider’s stock valued at $515,832,000 after acquiring an additional 3,229,046 shares during the period. Finally, International Assets Investment Management LLC raised its stake in shares of ONEOK by 5,247.1% during the 4th quarter. International Assets Investment Management LLC now owns 2,463,929 shares of the utilities provider’s stock worth $173,017,000 after buying an additional 2,417,849 shares during the period. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on OKE. Morgan Stanley raised their target price on shares of ONEOK from $84.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 26th. Citigroup upped their price target on ONEOK from $73.00 to $83.00 and gave the stock a “buy” rating in a research note on Tuesday, March 5th. Barclays raised their price objective on shares of ONEOK from $73.00 to $80.00 and gave the company an “equal weight” rating in a research note on Thursday, March 7th. StockNews.com raised ONEOK from a “sell” rating to a “hold” rating in a research report on Wednesday, March 6th. Finally, Wolfe Research upgraded ONEOK from an “underperform” rating to a “peer perform” rating in a research note on Wednesday, January 10th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $82.25.

ONEOK Trading Down 0.1 %

Shares of OKE traded down $0.08 during trading hours on Wednesday, hitting $80.27. The stock had a trading volume of 493,227 shares, compared to its average volume of 2,985,955. The company’s fifty day simple moving average is $77.16 and its 200 day simple moving average is $71.41. ONEOK, Inc. has a 12-month low of $55.91 and a 12-month high of $80.84. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.67 and a current ratio of 0.90. The firm has a market cap of $46.85 billion, a P/E ratio of 14.48, a P/E/G ratio of 4.88 and a beta of 1.65.

ONEOK (NYSE:OKE) last posted its quarterly earnings results on Monday, February 26th. The utilities provider reported $1.18 EPS for the quarter, missing the consensus estimate 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 analyst estimates of $5.57 billion. During the same period last year, the firm posted $1.08 earnings per share. Equities research analysts forecast that ONEOK, Inc. will post 4.99 EPS for the current fiscal year.

ONEOK Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be given a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 4.93%. The ex-dividend date is Tuesday, April 30th. ONEOK’s dividend payout ratio is presently 71.35%.

ONEOK declared that its Board of Directors has approved a share buyback plan 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 plans are often an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling at ONEOK

In related news, Director Wayne Thomas Smith purchased 2,700 shares of ONEOK stock in a transaction dated Friday, March 1st. The stock was bought at an average cost of $75.25 per share, with a total value of $203,175.00. Following the purchase, the director now owns 2,700 shares in the company, valued at approximately $203,175. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 0.20% of the stock is currently owned by company insiders.

ONEOK 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.