J. Safra Sarasin Holding AG Boosts Holdings in ONEOK, Inc. (NYSE:OKE)

Key Points

• J. Safra Sarasin Holding AG increased its stake in ONEOK, Inc. by 18.6% during the first quarter, owning a total of 31,177 shares valued at approximately $3.1 million.
• ONEOK has announced a quarterly dividend of $1.03 per share, set to be paid on August 14th, which corresponds to an annual yield of 5.2%.
• Analysts have mixed opinions on ONEOK, with an average rating of "Moderate Buy" and a consensus price target of $104.57, while several banks have adjusted their price targets on the stock.

J. Safra Sarasin Holding AG lifted its holdings in ONEOK, Inc. (NYSE:OKE - Free Report) by 18.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 31,177 shares of the utilities provider's stock after purchasing an additional 4,887 shares during the quarter. J. Safra Sarasin Holding AG's holdings in ONEOK were worth $3,093,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Marcum Wealth LLC grew its stake in shares of ONEOK by 1.1% in the 1st quarter. Marcum Wealth LLC now owns 10,250 shares of the utilities provider's stock valued at $1,017,000 after purchasing an additional 108 shares during the last quarter. West Paces Advisors Inc. raised its holdings in shares of ONEOK by 4.7% in the fourth quarter. West Paces Advisors Inc. now owns 2,527 shares of the utilities provider's stock worth $254,000 after acquiring an additional 114 shares during the last quarter. Morey & Quinn Wealth Partners LLC increased its stake in ONEOK by 0.8% in the first quarter. Morey & Quinn Wealth Partners LLC now owns 15,722 shares of the utilities provider's stock valued at $1,560,000 after purchasing an additional 130 shares during the last quarter. Uniplan Investment Counsel Inc. increased its stake in ONEOK by 0.3% in the fourth quarter. Uniplan Investment Counsel Inc. now owns 50,970 shares of the utilities provider's stock valued at $5,117,000 after purchasing an additional 132 shares during the last quarter. Finally, Visionary Wealth Advisors increased its stake in ONEOK by 2.1% in the fourth quarter. Visionary Wealth Advisors now owns 6,320 shares of the utilities provider's stock valued at $635,000 after purchasing an additional 132 shares during the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

OKE has been the subject of a number of research reports. Stifel Nicolaus lowered their price target on ONEOK from $110.00 to $107.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. TD Cowen initiated coverage on ONEOK in a research report on Monday, July 7th. They set a "hold" rating and a $91.00 price target for the company. Barclays lowered their price target on ONEOK from $101.00 to $91.00 and set an "equal weight" rating for the company in a research report on Tuesday, June 3rd. Wells Fargo & Company lowered their price target on ONEOK from $102.00 to $93.00 and set an "equal weight" rating for the company in a research report on Thursday, May 1st. Finally, Scotiabank set a $92.00 target price on ONEOK and gave the stock a "sector outperform" rating in a research report on Tuesday, July 15th. Six analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $104.57.

ONEOK Trading Down 6.5%

Shares of ONEOK stock traded down $5.21 on Tuesday, hitting $74.62. 3,150,556 shares of the company's stock traded hands, compared to its average volume of 3,946,855. The firm's 50-day moving average price is $81.40 and its two-hundred day moving average price is $88.30. The stock has a market capitalization of $46.98 billion, a PE ratio of 14.63, a price-to-earnings-growth ratio of 1.87 and a beta of 0.99. ONEOK, Inc. has a one year low of $75.05 and a one year high of $118.07. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.67 and a quick ratio of 0.52.

ONEOK (NYSE:OKE - Get Free Report) last announced its earnings results on Monday, August 4th. The utilities provider reported $1.34 earnings per share for the quarter, topping analysts' consensus estimates of $1.33 by $0.01. ONEOK had a net margin of 12.15% and a return on equity of 15.58%. The firm had revenue of $8.21 billion during the quarter, compared to analyst estimates of $7.20 billion. During the same period in the prior year, the business earned $1.33 EPS. On average, research analysts expect that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Friday, August 1st will be issued a dividend of $1.03 per share. The ex-dividend date is Friday, August 1st. This represents a $4.12 annualized dividend and a yield of 5.5%. ONEOK's payout ratio is 80.47%.

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.