ONEOK, Inc. (NYSE:OKE) Shares Purchased by Arlington Trust Co LLC

Arlington Trust Co LLC raised its holdings in ONEOK, Inc. (NYSE:OKE) by 27.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 838 shares of the utilities provider’s stock after purchasing an additional 183 shares during the period. Arlington Trust Co LLC’s holdings in ONEOK were worth $59,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings 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 valued at $3,757,405,000 after buying an additional 5,525,010 shares during the period. Moneta Group Investment Advisors LLC raised its stake in shares of ONEOK by 118,109.3% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 22,562,603 shares of the utilities provider’s stock worth $1,482,363,000 after buying an additional 22,543,516 shares in the last quarter. Deutsche Bank AG raised its stake in shares of ONEOK by 37.7% during the 3rd quarter. Deutsche Bank AG now owns 13,292,341 shares of the utilities provider’s stock worth $843,133,000 after buying an additional 3,636,660 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in ONEOK by 9.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 10,255,430 shares of the utilities provider’s stock valued at $650,502,000 after purchasing an additional 889,110 shares in the last quarter. Finally, Morgan Stanley increased its stake in ONEOK by 20.3% in the 3rd quarter. Morgan Stanley now owns 8,660,013 shares of the utilities provider’s stock valued at $549,305,000 after purchasing an additional 1,458,392 shares in the last quarter. 69.13% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Mizuho raised their price target on ONEOK from $75.00 to $81.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 20th. Citigroup lifted their target price on ONEOK from $73.00 to $83.00 and gave the stock a “buy” rating in a research report on Tuesday, March 5th. StockNews.com raised ONEOK from a “sell” rating to a “hold” rating in a report on Wednesday, March 6th. Morgan Stanley lifted their target price on ONEOK from $84.00 to $85.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 26th. Finally, US Capital Advisors downgraded ONEOK from an “overweight” rating to a “hold” rating in a research report on Wednesday, March 20th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $81.73.

Insider Activity at ONEOK

In related news, Director Wayne Thomas Smith acquired 2,700 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was acquired at an average price of $75.25 per share, with a total value of $203,175.00. Following the purchase, the director now directly owns 2,700 shares in the company, valued at $203,175. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.29% of the stock is owned by insiders.

ONEOK Stock Performance

Shares of ONEOK stock opened at $79.65 on Monday. The company has a 50 day moving average of $74.75 and a 200-day moving average of $70.14. ONEOK, Inc. has a 1-year low of $55.91 and a 1-year high of $80.81. The company has a current ratio of 0.90, a quick ratio of 0.67 and a debt-to-equity ratio of 1.29. The company has a market cap of $46.49 billion, a PE ratio of 14.35, a price-to-earnings-growth ratio of 2.47 and a beta of 1.65.

ONEOK (NYSE:OKE) last issued its quarterly earnings results on Monday, February 26th. The utilities provider reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.03). ONEOK had a return on equity of 22.57% and a net margin of 15.04%. The firm had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.57 billion. During the same period last year, the company posted $1.08 EPS. As a group, equities research analysts forecast that ONEOK, Inc. will post 4.62 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 14th. Investors of record on Tuesday, January 30th were paid a $0.99 dividend. This is an increase from ONEOK’s previous quarterly dividend of $0.96. The ex-dividend date was Monday, January 29th. This represents a $3.96 annualized dividend and a yield of 4.97%. ONEOK’s dividend payout ratio is presently 71.35%.

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

About ONEOK

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.