Summit Trail Advisors LLC Has $260,000 Stock Position in ONEOK, Inc. (NYSE:OKE)

Summit Trail Advisors LLC grew its stake in ONEOK, Inc. (NYSE:OKE) by 11.6% in the 4th quarter, Holdings Channel reports. The institutional investor owned 3,704 shares of the utilities provider’s stock after buying an additional 384 shares during the quarter. Summit Trail Advisors LLC’s holdings in ONEOK were worth $260,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of ONEOK by 6.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 86,365 shares of the utilities provider’s stock worth $5,478,000 after acquiring an additional 5,019 shares in the last quarter. Strs Ohio acquired a new stake in shares of ONEOK in the third quarter valued at approximately $1,374,000. NBT Bank N A NY bought a new stake in ONEOK in the 3rd quarter valued at $666,000. Advisor Partners II LLC lifted its holdings in ONEOK by 12.0% during the 3rd quarter. Advisor Partners II LLC now owns 33,331 shares of the utilities provider’s stock valued at $2,114,000 after purchasing an additional 3,576 shares during the last quarter. Finally, Park Avenue Securities LLC bought a new position in ONEOK during the third quarter worth $365,000. Institutional investors own 69.13% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on OKE shares. Barclays increased their price objective on shares of ONEOK from $73.00 to $80.00 and gave the company an “equal weight” rating in a research report on Thursday, March 7th. JPMorgan Chase & Co. upped their price objective on ONEOK from $88.00 to $89.00 and gave the company an “overweight” rating in a report on Friday, May 3rd. Seaport Res Ptn raised shares of ONEOK from a “neutral” rating to a “buy” rating in a research report on Thursday, February 8th. Stifel Nicolaus raised their price target on shares of ONEOK from $81.00 to $88.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Finally, Citigroup boosted their price objective on shares of ONEOK from $73.00 to $83.00 and gave the company a “buy” rating in a report on Tuesday, March 5th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, ONEOK currently has a consensus rating of “Hold” and an average target price of $83.58.

Insider Activity

In related news, Director Wayne Thomas Smith acquired 2,700 shares of ONEOK stock in a transaction dated Friday, March 1st. The stock was bought at an average price of $75.25 per share, with a total value of $203,175.00. Following the transaction, the director now directly owns 2,700 shares in the company, valued at approximately $203,175. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 0.20% of the stock is owned by company insiders.

ONEOK Stock Up 1.0 %

Shares of NYSE:OKE opened at $79.14 on Thursday. The business has a fifty day simple moving average of $78.52 and a 200 day simple moving average of $72.18. ONEOK, Inc. has a 12-month low of $55.91 and a 12-month high of $81.81. The firm has a market cap of $46.19 billion, a P/E ratio of 18.40, a P/E/G ratio of 4.13 and a beta of 1.64. The company has a quick ratio of 0.48, a current ratio of 0.70 and a debt-to-equity ratio of 1.24.

ONEOK (NYSE:OKE) last released its earnings results on Tuesday, April 30th. The utilities provider reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.03. ONEOK had a net margin of 12.54% and a return on equity of 15.94%. The business had revenue of $4.78 billion during the quarter, compared to the consensus estimate of $5.84 billion. During the same quarter in the prior year, the firm posted $2.34 EPS. Analysts predict that ONEOK, Inc. will post 4.95 earnings per share for the current year.

ONEOK Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be given a $0.99 dividend. This represents a $3.96 annualized dividend and a dividend yield of 5.00%. The ex-dividend date is Tuesday, April 30th. ONEOK’s dividend payout ratio (DPR) is presently 92.09%.

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

About ONEOK

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.