ONEOK, Inc. $OKE Shares Sold by SVB Wealth LLC

SVB Wealth LLC lowered its position in ONEOK, Inc. (NYSE:OKE) by 41.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,914 shares of the utilities provider’s stock after selling 7,036 shares during the quarter. SVB Wealth LLC’s holdings in ONEOK were worth $723,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Brighton Jones LLC boosted its holdings in ONEOK by 137.1% in the fourth quarter. Brighton Jones LLC now owns 15,278 shares of the utilities provider’s stock valued at $1,534,000 after purchasing an additional 8,834 shares during the last quarter. Empowered Funds LLC boosted its stake in shares of ONEOK by 0.8% during the 1st quarter. Empowered Funds LLC now owns 17,957 shares of the utilities provider’s stock valued at $1,782,000 after buying an additional 137 shares during the last quarter. Acadian Asset Management LLC purchased a new position in shares of ONEOK during the 1st quarter valued at approximately $216,000. Inspire Investing LLC grew its position in shares of ONEOK by 4.6% during the second quarter. Inspire Investing LLC now owns 4,783 shares of the utilities provider’s stock worth $390,000 after buying an additional 211 shares in the last quarter. Finally, CWM LLC increased its stake in shares of ONEOK by 3.1% in the second quarter. CWM LLC now owns 43,703 shares of the utilities provider’s stock worth $3,567,000 after buying an additional 1,323 shares during the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

OKE has been the subject of several recent analyst reports. Barclays decreased their price objective on shares of ONEOK from $78.00 to $76.00 and set an “equal weight” rating for the company in a report on Thursday, January 15th. JPMorgan Chase & Co. cut shares of ONEOK from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $87.00 to $83.00 in a report on Tuesday, January 27th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ONEOK in a report on Monday, December 29th. Jefferies Financial Group assumed coverage on shares of ONEOK in a research note on Tuesday, January 20th. They set a “hold” rating and a $80.00 price objective on the stock. Finally, Wells Fargo & Company cut their target price on shares of ONEOK from $90.00 to $82.00 and set an “equal weight” rating on the stock in a report on Thursday, October 30th. Seven equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, ONEOK presently has an average rating of “Hold” and an average target price of $85.80.

ONEOK Trading Up 1.8%

Shares of NYSE:OKE opened at $84.95 on Thursday. The company has a quick ratio of 0.75, a current ratio of 0.90 and a debt-to-equity ratio of 1.44. The company’s 50-day moving average price is $75.40 and its 200 day moving average price is $73.39. The company has a market cap of $53.45 billion, a PE ratio of 15.62, a P/E/G ratio of 4.74 and a beta of 0.96. ONEOK, Inc. has a fifty-two week low of $64.02 and a fifty-two week high of $103.64.

ONEOK Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Monday, February 2nd will be paid a $1.07 dividend. The ex-dividend date of this dividend is Monday, February 2nd. This represents a $4.28 annualized dividend and a yield of 5.0%. This is an increase from ONEOK’s previous quarterly dividend of $1.03. ONEOK’s dividend payout ratio (DPR) is currently 78.68%.

About ONEOK

ONEOK, Inc (NYSE: OKE) is a publicly traded midstream energy company headquartered in Tulsa, Oklahoma. The company owns and operates a portfolio of natural gas and natural gas liquids (NGL) pipelines, processing facilities, fractionators and storage and terminal assets. Its operations are focused on gathering, processing, transporting, fractionating and marketing NGLs and interstate natural gas, providing critical infrastructure that connects hydrocarbon production to refineries, petrochemical plants and other end markets.

ONEOK’s asset base includes pipeline systems and processing plants that move and condition natural gas, along with infrastructure for the transportation, storage and fractionation of NGLs such as ethane, propane and butane.