SVB Wealth LLC Purchases Shares of 19,022 ONEOK, Inc. (NYSE:OKE)

SVB Wealth LLC bought a new stake in ONEOK, Inc. (NYSE:OKE - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 19,022 shares of the utilities provider's stock, valued at approximately $1,910,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Kieckhefer Group LLC purchased a new position in ONEOK during the fourth quarter worth approximately $30,000. Canton Hathaway LLC bought a new position in shares of ONEOK in the 4th quarter worth about $40,000. Access Investment Management LLC bought a new position in shares of ONEOK in the 3rd quarter worth about $37,000. Versant Capital Management Inc lifted its position in shares of ONEOK by 98.1% in the 4th quarter. Versant Capital Management Inc now owns 525 shares of the utilities provider's stock worth $53,000 after buying an additional 260 shares during the last quarter. Finally, Sierra Ocean LLC bought a new stake in ONEOK in the 4th quarter valued at about $58,000. 69.13% of the stock is currently owned by institutional investors and hedge funds.

ONEOK Stock Performance

Shares of NYSE:OKE traded down $3.82 during midday trading on Monday, reaching $96.57. 3,556,230 shares of the company traded hands, compared to its average volume of 4,050,158. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. ONEOK, Inc. has a 12 month low of $75.69 and a 12 month high of $118.07. The firm has a market capitalization of $60.29 billion, a price-to-earnings ratio of 20.20, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70. The firm's fifty day moving average price is $100.91 and its two-hundred day moving average price is $99.29.

ONEOK (NYSE:OKE - Get Free Report) last released its quarterly earnings data on Monday, February 24th. The utilities provider reported $1.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.46 by $0.11. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The company had revenue of $7 billion for the quarter, compared to analyst estimates of $6.18 billion. On average, equities analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.27%. The ex-dividend date of this dividend was Monday, February 3rd. This is a positive change from ONEOK's previous quarterly dividend of $0.99. ONEOK's payout ratio is 79.69%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on OKE. Barclays initiated coverage on shares of ONEOK in a research note on Thursday, February 6th. They issued an "equal weight" rating and a $105.00 price target for the company. Truist Financial boosted their target price on shares of ONEOK from $99.00 to $107.00 and gave the stock a "hold" rating in a research report on Tuesday, December 3rd. US Capital Advisors upgraded shares of ONEOK from a "moderate buy" rating to a "strong-buy" rating in a research note on Monday, February 3rd. UBS Group lifted their price target on ONEOK from $112.00 to $132.00 and gave the company a "buy" rating in a report on Friday, November 15th. Finally, Wells Fargo & Company decreased their price objective on ONEOK from $107.00 to $102.00 and set an "equal weight" rating for the company in a research report on Wednesday, February 26th. Seven investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $104.15.

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.