Commerce Bank Has $15.09 Million Stock Position in ONEOK, Inc. (NYSE:OKE)

Commerce Bank cut its position in ONEOK, Inc. (NYSE:OKE) by 3.9% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 150,278 shares of the utilities provider’s stock after selling 6,089 shares during the quarter. Commerce Bank’s holdings in ONEOK were worth $15,088,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Kieckhefer Group LLC bought a new stake in ONEOK during the 4th quarter worth approximately $30,000. Canton Hathaway LLC acquired a new stake in shares of ONEOK in the fourth quarter valued at $40,000. J.Safra Asset Management Corp bought a new position in shares of ONEOK in the fourth quarter valued at about $48,000. VSM Wealth Advisory LLC acquired a new position in ONEOK during the 4th quarter worth about $50,000. Finally, OFI Invest Asset Management acquired a new stake in ONEOK in the 4th quarter valued at about $51,000. 69.13% of the stock is owned by institutional investors.

ONEOK Price Performance

NYSE:OKE opened at $86.19 on Friday. The company has a market cap of $53.84 billion, a P/E ratio of 18.03, a P/E/G ratio of 3.77 and a beta of 1.20. ONEOK, Inc. has a 52-week low of $75.48 and a 52-week high of $118.07. The stock’s 50-day simple moving average is $93.39 and its 200 day simple moving average is $99.33. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81.

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, beating analysts’ consensus estimates of $1.46 by $0.11. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The company had revenue of $7 billion for the quarter, compared to analysts’ expectations of $6.18 billion. As a group, sell-side analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 4.78%. The ex-dividend date of this dividend was Monday, February 3rd. This is a boost from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio is 79.69%.

Wall Street Analysts Forecast Growth

OKE has been the topic of several research analyst reports. Barclays decreased their price target on shares of ONEOK from $105.00 to $101.00 and set an “equal weight” rating on the stock in a research note on Friday, March 7th. Morgan Stanley raised their price target on ONEOK from $111.00 to $133.00 and gave the company an “overweight” rating in a report on Tuesday, March 25th. Wells Fargo & Company lowered their price target on shares of ONEOK from $107.00 to $102.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 26th. Scotiabank decreased their price objective on ONEOK from $109.00 to $102.00 and set a “sector outperform” rating for the company in a research note on Thursday, March 6th. Finally, Wolfe Research raised shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price objective on the stock in a research note on Monday, February 10th. Seven analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $106.42.

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.