SVB Wealth LLC Sells 7,036 Shares of ONEOK, Inc. $OKE

SVB Wealth LLC reduced its stake in shares of ONEOK, Inc. (NYSE:OKE) by 41.5% during the 3rd quarter, Holdings Channel.com reports. 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 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Assetmark Inc. lifted its position in ONEOK by 84.0% during the 2nd quarter. Assetmark Inc. now owns 4,047 shares of the utilities provider’s stock worth $330,000 after acquiring an additional 1,848 shares during the last quarter. National Pension Service increased its stake in shares of ONEOK by 2.9% in the third quarter. National Pension Service now owns 857,949 shares of the utilities provider’s stock worth $62,605,000 after purchasing an additional 24,003 shares during the period. Hudson Edge Investment Partners Inc. lifted its position in shares of ONEOK by 34.1% during the 3rd quarter. Hudson Edge Investment Partners Inc. now owns 87,667 shares of the utilities provider’s stock worth $6,397,000 after purchasing an additional 22,282 shares during the last quarter. Meixler Investment Management Ltd. boosted its stake in ONEOK by 134.0% during the 2nd quarter. Meixler Investment Management Ltd. now owns 30,937 shares of the utilities provider’s stock valued at $2,525,000 after purchasing an additional 17,714 shares during the period. Finally, Jackson Hole Capital Partners LLC grew its holdings in ONEOK by 24.6% in the 2nd quarter. Jackson Hole Capital Partners LLC now owns 81,923 shares of the utilities provider’s stock valued at $6,687,000 after buying an additional 16,151 shares during the last quarter. Institutional investors own 69.13% of the company’s stock.

ONEOK Price Performance

NYSE OKE opened at $84.95 on Thursday. The business has a 50 day simple moving average of $75.40 and a 200 day simple moving average of $73.39. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.75 and a current ratio of 0.90. ONEOK, Inc. has a 52-week low of $64.02 and a 52-week high of $103.64. The stock has a market cap of $53.45 billion, a price-to-earnings ratio of 15.62, a PEG ratio of 4.74 and a beta of 0.96.

ONEOK Increases Dividend

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

Wall Street Analyst Weigh In

A number of brokerages have recently commented on OKE. Wells Fargo & Company cut their price target on ONEOK from $90.00 to $82.00 and set an “equal weight” rating for the company in a report on Thursday, October 30th. UBS Group lowered their price objective on ONEOK from $114.00 to $103.00 and set a “buy” rating on the stock in a research note on Thursday, January 22nd. Morgan Stanley restated an “overweight” rating and set a $104.00 target price on shares of ONEOK in a research report on Wednesday, January 28th. Citigroup lowered their price target on ONEOK from $102.00 to $95.00 and set a “buy” rating on the stock in a research report on Friday, October 31st. Finally, Barclays decreased their price objective on shares of ONEOK from $78.00 to $76.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 15th. Seven analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $85.80.

ONEOK Profile

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.