Gibraltar Capital Management Inc. Has $224,000 Holdings in ONEOK, Inc. (NYSE:OKE)

Gibraltar Capital Management Inc. lessened its holdings in ONEOK, Inc. (NYSE:OKE) by 5.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,193 shares of the utilities provider’s stock after selling 190 shares during the quarter. Gibraltar Capital Management Inc.’s holdings in ONEOK were worth $224,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Peoples Bank KS bought a new position in shares of ONEOK in the 3rd quarter valued at about $25,000. Beacon Capital Management LLC boosted its stake in ONEOK by 90.7% during the 4th quarter. Beacon Capital Management LLC now owns 408 shares of the utilities provider’s stock worth $29,000 after acquiring an additional 194 shares during the last quarter. HHM Wealth Advisors LLC bought a new position in ONEOK during the 4th quarter worth approximately $32,000. SOA Wealth Advisors LLC. boosted its stake in ONEOK by 283.5% during the 4th quarter. SOA Wealth Advisors LLC. now owns 510 shares of the utilities provider’s stock worth $36,000 after acquiring an additional 377 shares during the last quarter. Finally, Loomis Sayles & Co. L P boosted its stake in ONEOK by 605.1% during the 3rd quarter. Loomis Sayles & Co. L P now owns 557 shares of the utilities provider’s stock worth $35,000 after acquiring an additional 478 shares during the last quarter. Institutional investors own 69.13% of the company’s stock.

ONEOK Stock Down 2.8 %

Shares of NYSE OKE traded down $2.29 during midday trading on Tuesday, reaching $79.13. The company’s stock had a trading volume of 4,163,724 shares, compared to its average volume of 2,986,888. The company has a current ratio of 0.90, a quick ratio of 0.67 and a debt-to-equity ratio of 1.29. ONEOK, Inc. has a fifty-two week low of $55.91 and a fifty-two week high of $81.81. The stock has a market capitalization of $46.18 billion, a price-to-earnings ratio of 14.26, a PEG ratio of 4.95 and a beta of 1.65. The stock has a 50 day simple moving average of $78.12 and a 200-day simple moving average of $71.88.

ONEOK (NYSE:OKE) last issued its earnings results on Monday, February 26th. The utilities provider reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.03). The firm had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.57 billion. ONEOK had a return on equity of 22.57% and a net margin of 15.04%. During the same quarter in the previous year, the firm posted $1.08 earnings per share. Equities research analysts predict that ONEOK, Inc. will post 4.99 earnings per share for the current year.

ONEOK declared that its board has approved a share buyback program on Wednesday, January 17th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the utilities provider to purchase up to 4.9% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

ONEOK Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be issued a dividend of $0.99 per share. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $3.96 dividend on an annualized basis and a yield of 5.00%. ONEOK’s payout ratio is 71.35%.

Insider Buying and Selling

In other news, Director Wayne Thomas Smith bought 2,700 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were acquired at an average cost of $75.25 per share, for a total transaction of $203,175.00. Following the completion of the acquisition, the director now owns 2,700 shares in the company, valued at $203,175. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

OKE has been the topic of several recent analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of ONEOK from $81.00 to $85.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 13th. Barclays lifted their price objective on shares of ONEOK from $73.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 7th. Raymond James lifted their price objective on shares of ONEOK from $80.00 to $85.00 and gave the stock an “outperform” rating in a research note on Friday, January 19th. Citigroup raised their target price on shares of ONEOK from $73.00 to $83.00 and gave the stock a “buy” rating in a report on Tuesday, March 5th. Finally, Mizuho raised their target price on shares of ONEOK from $75.00 to $81.00 and gave the stock a “neutral” rating in a report on Wednesday, March 20th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, ONEOK has a consensus rating of “Hold” and a consensus price target of $82.25.

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.