ONEOK, Inc. $OKE Shares Sold by J. Safra Sarasin Holding AG

J. Safra Sarasin Holding AG lessened its stake in shares of ONEOK, Inc. (NYSE:OKE) by 78.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,529 shares of the utilities provider’s stock after selling 26,892 shares during the quarter. J. Safra Sarasin Holding AG’s holdings in ONEOK were worth $549,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of ONEOK by 1.7% during the second quarter. Vanguard Group Inc. now owns 76,510,971 shares of the utilities provider’s stock worth $6,245,591,000 after purchasing an additional 1,314,002 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in ONEOK by 2.9% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 21,570,904 shares of the utilities provider’s stock valued at $1,760,833,000 after buying an additional 613,674 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of ONEOK by 2.3% during the second quarter. Geode Capital Management LLC now owns 15,800,797 shares of the utilities provider’s stock valued at $1,284,303,000 after acquiring an additional 355,751 shares in the last quarter. Invesco Ltd. increased its position in shares of ONEOK by 0.6% during the second quarter. Invesco Ltd. now owns 8,386,831 shares of the utilities provider’s stock worth $684,617,000 after acquiring an additional 46,892 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of ONEOK in the second quarter worth about $562,832,000. Institutional investors and hedge funds own 69.13% of the company’s stock.

Insider Transactions at ONEOK

In other ONEOK news, Director Brian L. Derksen purchased 2,500 shares of the business’s stock in a transaction dated Monday, November 3rd. The shares were bought at an average price of $66.00 per share, with a total value of $165,000.00. Following the completion of the acquisition, the director owned 21,200 shares in the company, valued at approximately $1,399,200. This represents a 13.37% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.21% of the stock is owned by insiders.

ONEOK Stock Down 1.0%

Shares of NYSE:OKE opened at $78.48 on Friday. The stock has a market capitalization of $49.38 billion, a price-to-earnings ratio of 14.43, a price-to-earnings-growth ratio of 4.53 and a beta of 0.94. ONEOK, Inc. has a 1-year low of $64.02 and a 1-year high of $103.64. The company’s fifty day moving average is $73.83 and its two-hundred day moving average is $73.47. 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 (NYSE:OKE) last posted its quarterly earnings results on Tuesday, October 28th. The utilities provider reported $1.49 EPS for the quarter, beating the consensus estimate of $1.48 by $0.01. ONEOK had a net margin of 10.58% and a return on equity of 15.12%. The business had revenue of $8.63 billion during the quarter, compared to analyst estimates of $8.23 billion. During the same period in the previous year, the business posted $1.18 EPS. Equities analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Monday, February 2nd will be given a $1.07 dividend. The ex-dividend date is Monday, February 2nd. This represents a $4.28 annualized dividend and a yield of 5.5%. This is a boost from ONEOK’s previous quarterly dividend of $1.03. ONEOK’s payout ratio is 75.74%.

Analysts Set New Price Targets

OKE has been the topic of several analyst reports. TD Cowen dropped their price objective on ONEOK from $78.00 to $76.00 and set a “hold” rating on the stock in a report on Thursday, October 30th. Argus upgraded shares of ONEOK from a “hold” rating to a “buy” rating and set a $79.00 price target for the company in a research note on Thursday, November 6th. Jefferies Financial Group started coverage on shares of ONEOK in a report on Tuesday, January 20th. They issued a “hold” rating and a $80.00 price target on the stock. Citigroup decreased their price objective on shares of ONEOK from $102.00 to $95.00 and set a “buy” rating for the company in a report on Friday, October 31st. Finally, Raymond James Financial restated an “outperform” rating and issued a $82.00 target price (down previously from $100.00) on shares of ONEOK in a research note on Friday, October 24th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $87.31.

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.