Busey Bank Boosts Stock Position in ONEOK, Inc. (NYSE:OKE)

Busey Bank raised its stake in ONEOK, Inc. (NYSE:OKE) by 1.3% during the 4th quarter, Holdings Channel.com reports. The firm owned 15,307 shares of the utilities provider’s stock after buying an additional 199 shares during the quarter. Busey Bank’s holdings in ONEOK were worth $1,537,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Ibex Wealth Advisors purchased a new position in ONEOK in the fourth quarter valued at about $18,014,000. Patton Fund Management Inc. purchased a new position in ONEOK in the fourth quarter valued at about $6,315,000. Robeco Institutional Asset Management B.V. grew its stake in ONEOK by 66.3% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 252,588 shares of the utilities provider’s stock valued at $25,360,000 after purchasing an additional 100,744 shares during the last quarter. Gateway Wealth Partners LLC purchased a new position in ONEOK in the fourth quarter valued at about $689,000. Finally, BSW Wealth Partners grew its stake in shares of ONEOK by 9.0% during the fourth quarter. BSW Wealth Partners now owns 3,268 shares of the utilities provider’s stock worth $328,000 after acquiring an additional 270 shares during the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on OKE shares. Royal Bank of Canada boosted their price target on ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 16th. Bank of America started coverage on ONEOK in a research note on Thursday, October 17th. They set a “buy” rating and a $105.00 price target on the stock. UBS Group boosted their price target on ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Scotiabank started coverage on ONEOK in a research note on Friday, January 10th. They set a “sector outperform” rating and a $109.00 price target on the stock. Finally, Wells Fargo & Company lowered ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price target on the stock. in a research note on Wednesday, December 18th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, ONEOK presently has an average rating of “Moderate Buy” and a consensus target price of $102.92.

ONEOK Trading Down 0.2 %

Shares of NYSE:OKE opened at $100.38 on Thursday. ONEOK, Inc. has a 12-month low of $67.05 and a 12-month high of $118.07. The company has a market capitalization of $58.64 billion, a PE ratio of 21.00, a PEG ratio of 4.03 and a beta of 1.70. The business has a 50 day moving average of $105.51 and a two-hundred day moving average of $96.93. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The company had revenue of $5.02 billion during the quarter, compared to analyst estimates of $5.81 billion. During the same period in the previous year, the firm posted $0.99 earnings per share. As a group, analysts forecast that ONEOK, Inc. will post 5.1 EPS for the current year.

ONEOK Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Monday, February 3rd will be issued a $1.03 dividend. The ex-dividend date is Monday, February 3rd. This is an increase from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 dividend on an annualized basis and a yield of 4.10%. ONEOK’s payout ratio is presently 82.85%.

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.