Greenleaf Trust Acquires 646 Shares of ONEOK, Inc. (NYSE:OKE)

Greenleaf Trust increased its position in ONEOK, Inc. (NYSE:OKE) by 7.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 9,352 shares of the utilities provider’s stock after acquiring an additional 646 shares during the quarter. Greenleaf Trust’s holdings in ONEOK were worth $657,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of OKE. Vanguard Group Inc. grew its holdings in shares of ONEOK by 10.3% in the third quarter. Vanguard Group Inc. now owns 59,237,038 shares of the utilities provider’s stock worth $3,757,405,000 after acquiring an additional 5,525,010 shares during the period. Deutsche Bank AG grew its holdings in ONEOK by 37.7% during the third quarter. Deutsche Bank AG now owns 13,292,341 shares of the utilities provider’s stock valued at $843,133,000 after purchasing an additional 3,636,660 shares during the period. Blackstone Inc. grew its holdings in ONEOK by 3,478.3% during the third quarter. Blackstone Inc. now owns 3,578,316 shares of the utilities provider’s stock valued at $226,973,000 after purchasing an additional 3,478,316 shares during the period. Invesco Ltd. grew its holdings in ONEOK by 65.9% during the third quarter. Invesco Ltd. now owns 8,132,301 shares of the utilities provider’s stock valued at $515,832,000 after purchasing an additional 3,229,046 shares during the period. Finally, International Assets Investment Management LLC grew its holdings in ONEOK by 5,247.1% during the fourth quarter. International Assets Investment Management LLC now owns 2,463,929 shares of the utilities provider’s stock valued at $173,017,000 after purchasing an additional 2,417,849 shares during the period. Institutional investors own 69.13% of the company’s stock.

Insiders Place Their Bets

In related news, Director Wayne Thomas Smith bought 2,700 shares of the stock in a transaction on Friday, March 1st. The stock was bought at an average price of $75.25 per share, for a total transaction of $203,175.00. Following the completion of the acquisition, the director now directly owns 2,700 shares in the company, valued at $203,175. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.20% of the stock is owned by company insiders.

ONEOK Trading Up 0.3 %

OKE opened at $79.90 on Tuesday. The stock has a market cap of $46.63 billion, a price-to-earnings ratio of 14.40, a P/E/G ratio of 4.87 and a beta of 1.65. The stock’s 50 day moving average price is $76.94 and its 200-day moving average price is $71.29. ONEOK, Inc. has a one year low of $55.91 and a one year 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.

ONEOK (NYSE:OKE) last announced its quarterly earnings data 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 firm had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.57 billion. During the same period last year, the company earned $1.08 EPS. On average, equities analysts forecast that ONEOK, Inc. will post 4.99 EPS for the current year.

ONEOK announced that its Board of Directors has approved a stock repurchase plan on Wednesday, January 17th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the utilities provider to buy up to 4.9% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

ONEOK Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be paid a $0.99 dividend. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $3.96 annualized dividend and a yield of 4.96%. ONEOK’s dividend payout ratio (DPR) is currently 71.35%.

Analyst Ratings Changes

Several analysts have issued reports on OKE shares. StockNews.com raised ONEOK from a “sell” rating to a “hold” rating in a report on Wednesday, March 6th. Stifel Nicolaus boosted their price target on ONEOK from $81.00 to $88.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Barclays boosted their price target on ONEOK from $73.00 to $80.00 and gave the company an “equal weight” rating in a report on Thursday, March 7th. UBS Group boosted their price objective on ONEOK from $80.00 to $87.00 and gave the company a “buy” rating in a research report on Tuesday, February 27th. Finally, Morgan Stanley boosted their price objective on ONEOK from $84.00 to $85.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 26th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $82.25.

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.