Cribstone Capital Management LLC cut its position in shares of ONEOK, Inc. (NYSE:OKE) by 12.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,092 shares of the utilities provider’s stock after selling 150 shares during the quarter. Cribstone Capital Management LLC’s holdings in ONEOK were worth $83,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of OKE. Evanson Asset Management LLC increased its stake in shares of ONEOK by 0.3% in the third quarter. Evanson Asset Management LLC now owns 45,538 shares of the utilities provider’s stock valued at $3,356,000 after buying an additional 145 shares in the last quarter. Haverford Trust Co. increased its stake in shares of ONEOK by 5.2% in the third quarter. Haverford Trust Co. now owns 3,110 shares of the utilities provider’s stock valued at $229,000 after buying an additional 155 shares in the last quarter. Moors & Cabot Inc. increased its stake in shares of ONEOK by 0.3% in the third quarter. Moors & Cabot Inc. now owns 45,389 shares of the utilities provider’s stock valued at $3,348,000 after buying an additional 157 shares in the last quarter. Washington Trust Bank increased its stake in shares of ONEOK by 3.1% in the third quarter. Washington Trust Bank now owns 5,641 shares of the utilities provider’s stock valued at $416,000 after buying an additional 170 shares in the last quarter. Finally, Laffer Investments increased its stake in shares of ONEOK by 1.8% in the second quarter. Laffer Investments now owns 9,905 shares of the utilities provider’s stock valued at $682,000 after buying an additional 174 shares in the last quarter. Institutional investors and hedge funds own 73.29% of the company’s stock.
A number of analysts have recently weighed in on the company. Wolfe Research lowered ONEOK from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 8th. Morgan Stanley assumed coverage on ONEOK in a report on Monday, January 6th. They set an “underweight” rating and a $63.00 target price on the stock. Zacks Investment Research cut ONEOK from a “buy” rating to a “hold” rating and set a $81.00 target price on the stock. in a report on Wednesday, September 18th. Barclays set a $79.00 target price on ONEOK and gave the stock a “hold” rating in a report on Tuesday, October 15th. Finally, Raymond James reduced their target price on ONEOK from $74.00 to $73.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $74.38.
ONEOK (NYSE:OKE) last released its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $0.74 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.74. The business had revenue of $2.26 billion for the quarter, compared to analysts’ expectations of $2.36 billion. ONEOK had a return on equity of 19.56% and a net margin of 11.76%. During the same period in the prior year, the firm posted $0.75 EPS. As a group, equities analysts expect that ONEOK, Inc. will post 3.07 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Monday, January 27th will be given a $0.935 dividend. This is a boost from ONEOK’s previous quarterly dividend of $0.92. This represents a $3.74 annualized dividend and a yield of 4.87%. ONEOK’s dividend payout ratio is 131.65%.
In other news, CAO Mary M. Spears sold 2,000 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $71.85, for a total transaction of $143,700.00. Following the transaction, the chief accounting officer now directly owns 10,263 shares of the company’s stock, valued at approximately $737,396.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Mark W. Helderman purchased 6,094 shares of the stock in a transaction dated Tuesday, December 17th. The shares were purchased at an average cost of $73.36 per share, for a total transaction of $447,055.84. Corporate insiders own 0.60% of the company’s stock.
ONEOK Company Profile
ONEOK, Inc, together with its subsidiaries, engages in the gathering, processing, storage, and transportation of natural gas in the United States. It operates through Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments. The company owns natural gas gathering pipelines and processing plants in the Mid-Continent and Rocky Mountain regions.
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