ONEOK, Inc. (NYSE:OKE) Shares Acquired by Wesbanco Bank Inc.

Wesbanco Bank Inc. grew its position in ONEOK, Inc. (NYSE:OKEFree Report) by 6.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,482 shares of the utilities provider’s stock after acquiring an additional 667 shares during the quarter. Wesbanco Bank Inc.’s holdings in ONEOK were worth $728,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Acadian Asset Management LLC lifted its holdings in shares of ONEOK by 275.5% during the first quarter. Acadian Asset Management LLC now owns 2,850 shares of the utilities provider’s stock worth $201,000 after purchasing an additional 2,091 shares during the period. Raymond James Trust N.A. lifted its holdings in ONEOK by 6.6% in the first quarter. Raymond James Trust N.A. now owns 5,339 shares of the utilities provider’s stock valued at $377,000 after acquiring an additional 331 shares during the period. Sei Investments Co. lifted its holdings in ONEOK by 500.5% in the first quarter. Sei Investments Co. now owns 167,226 shares of the utilities provider’s stock valued at $11,812,000 after acquiring an additional 139,379 shares during the period. Aviva PLC lifted its holdings in ONEOK by 20.7% in the first quarter. Aviva PLC now owns 161,711 shares of the utilities provider’s stock valued at $11,422,000 after acquiring an additional 27,697 shares during the period. Finally, Prudential PLC acquired a new stake in ONEOK in the first quarter valued at $614,000. 68.87% of the stock is owned by institutional investors and hedge funds.

ONEOK Stock Performance

OKE opened at $77.11 on Friday. The company has a market cap of $44.97 billion, a PE ratio of 13.89, a price-to-earnings-growth ratio of 2.24 and a beta of 1.65. The stock has a 50-day moving average of $71.87 and a 200-day moving average of $68.61. ONEOK, Inc. has a 52-week low of $55.91 and a 52-week high of $78.37. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.67 and a current ratio of 0.90.

ONEOK (NYSE:OKEGet Free Report) last released its quarterly earnings results on Monday, February 26th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.21 by ($0.03). ONEOK had a return on equity of 22.57% and a net margin of 15.04%. The company had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.57 billion. During the same quarter last year, the company posted $1.08 EPS. As a group, equities research analysts forecast that ONEOK, Inc. will post 4.95 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Tuesday, January 30th were issued a $0.99 dividend. The ex-dividend date of this dividend was Monday, January 29th. This is a boost from ONEOK’s previous quarterly dividend of $0.96. This represents a $3.96 dividend on an annualized basis and a dividend yield of 5.14%. ONEOK’s dividend payout ratio is presently 71.35%.

ONEOK announced that its board has initiated a stock repurchase plan on Wednesday, January 17th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the utilities provider to reacquire up to 4.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

OKE has been the subject of a number of recent analyst reports. Wolfe Research raised ONEOK from an “underperform” rating to a “peer perform” rating in a report on Wednesday, January 10th. Mizuho restated a “neutral” rating and issued a $75.00 price target (up previously from $72.00) on shares of ONEOK in a research report on Friday, February 23rd. Royal Bank of Canada raised their price target on ONEOK from $69.00 to $76.00 and gave the company a “sector perform” rating in a research report on Thursday, November 16th. Citigroup raised their price target on ONEOK from $73.00 to $83.00 and gave the company a “buy” rating in a research report on Tuesday, March 5th. Finally, StockNews.com upgraded ONEOK from a “sell” rating to a “hold” rating in a research report on Wednesday, March 6th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $79.22.

Read Our Latest Analysis on OKE

Insider Activity at ONEOK

In other news, Director Wayne Thomas Smith bought 2,700 shares of the 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 of the company’s stock, valued at $203,175. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Director Wayne Thomas Smith acquired 2,700 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was acquired at an average cost of $75.25 per share, with a total value of $203,175.00. Following the completion of the purchase, the director now directly owns 2,700 shares in the company, valued at $203,175. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Eduardo A. Rodriguez sold 800 shares of the business’s stock in a transaction dated Friday, December 22nd. The shares were sold at an average price of $70.29, for a total value of $56,232.00. Following the completion of the transaction, the director now directly owns 25,154 shares of the company’s stock, valued at $1,768,074.66. The disclosure for this sale can be found here. Insiders own 0.65% of the company’s stock.

About ONEOK

(Free Report)

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.

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Institutional Ownership by Quarter for ONEOK (NYSE:OKE)

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