Cullen Frost Bankers Inc. Has $1.17 Million Stock Position in ONEOK, Inc. (NYSE:OKE)

Cullen Frost Bankers Inc. lowered its position in ONEOK, Inc. (NYSE:OKE) by 5.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 11,694 shares of the utilities provider’s stock after selling 725 shares during the period. Cullen Frost Bankers Inc.’s holdings in ONEOK were worth $1,174,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Kieckhefer Group LLC bought a new position in ONEOK in the fourth quarter worth approximately $30,000. Access Investment Management LLC bought a new position in ONEOK in the third quarter worth approximately $37,000. Canton Hathaway LLC bought a new position in shares of ONEOK in the fourth quarter valued at approximately $40,000. J.Safra Asset Management Corp bought a new position in shares of ONEOK in the fourth quarter valued at approximately $48,000. Finally, Versant Capital Management Inc lifted its holdings in shares of ONEOK by 98.1% in the fourth quarter. Versant Capital Management Inc now owns 525 shares of the utilities provider’s stock valued at $53,000 after purchasing an additional 260 shares in the last quarter. Institutional investors own 69.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on OKE. Scotiabank dropped their target price on ONEOK from $109.00 to $102.00 and set a “sector outperform” rating on the stock in a report on Thursday. Barclays dropped their target price on ONEOK from $105.00 to $101.00 and set an “equal weight” rating on the stock in a report on Friday. Wolfe Research raised ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price target for the company in a research report on Monday, February 10th. Citigroup started coverage on ONEOK in a research report on Friday, February 28th. They set a “buy” rating and a $110.00 price target for the company. Finally, Truist Financial increased their price target on ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research report on Tuesday, December 3rd. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $103.31.

ONEOK Trading Down 0.2 %

NYSE OKE opened at $89.59 on Friday. ONEOK, Inc. has a 1-year low of $76.23 and a 1-year high of $118.07. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. The stock has a 50-day moving average of $100.00 and a 200-day moving average of $99.29. The firm has a market cap of $55.93 billion, a PE ratio of 18.74, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70.

ONEOK (NYSE:OKE) last announced its quarterly 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 return on equity of 16.84% and a net margin of 14.05%. The company had revenue of $7 billion for the quarter, compared to the consensus estimate of $6.18 billion. As a group, sell-side analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current 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 issued a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 4.60%. The ex-dividend date was Monday, February 3rd. This is an increase from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s payout ratio is currently 79.69%.

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.