Syon Capital LLC Has $817,000 Stake in ONEOK, Inc. (NYSE:OKE)

Syon Capital LLC increased its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 20.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,632 shares of the utilities provider’s stock after acquiring an additional 1,961 shares during the quarter. Syon Capital LLC’s holdings in ONEOK were worth $817,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in ONEOK by 10.3% during 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 last quarter. Deutsche Bank AG lifted its position 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 valued at $843,133,000 after acquiring an additional 3,636,660 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of ONEOK by 9.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 10,255,430 shares of the utilities provider’s stock worth $650,502,000 after purchasing an additional 889,110 shares in the last quarter. Morgan Stanley increased its position in shares of ONEOK by 20.3% in the third quarter. Morgan Stanley now owns 8,660,013 shares of the utilities provider’s stock worth $549,305,000 after purchasing an additional 1,458,392 shares during the period. Finally, Invesco Ltd. raised its stake in ONEOK by 65.9% in 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 in the last quarter. Institutional investors own 69.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on OKE shares. Citigroup boosted their target price on shares of ONEOK from $73.00 to $83.00 and gave the company a “buy” rating in a research report on Tuesday, March 5th. Wolfe Research raised ONEOK from an “underperform” rating to a “peer perform” rating in a report on Wednesday, January 10th. Mizuho boosted their price target on ONEOK from $75.00 to $81.00 and gave the stock a “neutral” rating in a report on Wednesday, March 20th. Seaport Res Ptn raised ONEOK from a “neutral” rating to a “buy” rating in a research note on Thursday, February 8th. Finally, Raymond James lifted their target price on ONEOK from $80.00 to $85.00 and gave the company an “outperform” rating in a research report on Friday, January 19th. One analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, ONEOK currently has an average rating of “Hold” and a consensus price target of $82.25.

Insiders Place Their Bets

In other news, Director Wayne Thomas Smith acquired 2,700 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was bought at an average cost of $75.25 per share, for a total transaction of $203,175.00. Following the completion of the transaction, the director now directly owns 2,700 shares in the company, valued at approximately $203,175. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.20% of the company’s stock.

ONEOK Trading Down 0.4 %

NYSE OKE traded down $0.32 on Friday, hitting $81.06. The company’s stock had a trading volume of 1,554,671 shares, compared to its average volume of 2,974,498. The company’s 50-day moving average is $77.60 and its 200 day moving average is $71.54. The firm has a market cap of $47.31 billion, a PE ratio of 14.66, a PEG ratio of 4.94 and a beta of 1.65. ONEOK, Inc. has a 1-year low of $55.91 and a 1-year high of $81.81. The company has a quick ratio of 0.67, a current ratio of 0.90 and a debt-to-equity ratio of 1.29.

ONEOK (NYSE:OKE) last posted its quarterly earnings data 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 net margin of 15.04% and a return on equity of 22.57%. The company had revenue of $5.24 billion during the quarter, compared to analyst estimates of $5.57 billion. During the same quarter in the previous year, the company earned $1.08 earnings per share. As a group, analysts predict that ONEOK, Inc. will post 4.99 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be given a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 4.89%. The ex-dividend date of this dividend is Tuesday, April 30th. 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 shares. This repurchase authorization allows the utilities provider to reacquire up to 4.9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.

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.