M&T Bank Corp Purchases 7,635 Shares of ONEOK, Inc. (NYSE:OKE)

M&T Bank Corp increased its position in shares of ONEOK, Inc. (NYSE:OKE) by 5.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 153,556 shares of the utilities provider’s stock after purchasing an additional 7,635 shares during the quarter. M&T Bank Corp’s holdings in ONEOK were worth $15,416,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Kieckhefer Group LLC purchased a new position in ONEOK in the fourth quarter valued at about $30,000. Access Investment Management LLC bought a new stake in ONEOK during the 3rd quarter worth approximately $37,000. Canton Hathaway LLC bought a new stake in ONEOK during the 4th quarter worth approximately $40,000. J.Safra Asset Management Corp purchased a new position in ONEOK in the 4th quarter worth approximately $48,000. Finally, Versant Capital Management Inc grew its stake in ONEOK by 98.1% in the 4th quarter. Versant Capital Management Inc now owns 525 shares of the utilities provider’s stock worth $53,000 after buying an additional 260 shares in the last quarter. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

OKE has been the subject of a number of research reports. Scotiabank assumed coverage on shares of ONEOK in a research note on Friday, January 10th. They issued a “sector outperform” rating and a $109.00 price objective for the company. Wells Fargo & Company decreased their price objective on shares of ONEOK from $107.00 to $102.00 and set an “equal weight” rating for the company in a report on Wednesday, February 26th. UBS Group upped their price objective on shares of ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Citigroup started coverage on shares of ONEOK in a report on Friday, February 28th. They issued a “buy” rating and a $110.00 price objective for the company. Finally, US Capital Advisors upgraded shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, February 3rd. Seven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, ONEOK has a consensus rating of “Moderate Buy” and a consensus target price of $104.15.

ONEOK Stock Down 2.0 %

Shares of ONEOK stock opened at $91.95 on Thursday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. The stock has a market capitalization of $57.40 billion, a PE ratio of 19.24, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70. ONEOK, Inc. has a 52-week low of $76.23 and a 52-week high of $118.07. The company has a 50-day simple moving average of $100.45 and a two-hundred day simple moving average of $99.34.

ONEOK (NYSE:OKE) last issued its earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.11. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The business had revenue of $7 billion during the quarter, compared to analysts’ expectations of $6.18 billion. On average, analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were paid a $1.03 dividend. The ex-dividend date was Monday, February 3rd. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.48%. ONEOK’s payout ratio is currently 79.69%.

ONEOK Company 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.