M&T Bank Corp Has $12.01 Million Holdings in ONEOK, Inc. (NYSE:OKE)

M&T Bank Corp trimmed its stake in shares of ONEOK, Inc. (NYSE:OKE) by 6.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 171,010 shares of the utilities provider’s stock after selling 12,632 shares during the period. M&T Bank Corp’s holdings in ONEOK were worth $12,009,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Fifth Third Bancorp boosted its position in shares of ONEOK by 16.2% during the fourth quarter. Fifth Third Bancorp now owns 21,800 shares of the utilities provider’s stock worth $1,531,000 after buying an additional 3,032 shares during the period. Kestra Private Wealth Services LLC lifted its position in shares of ONEOK by 26.6% in the fourth quarter. Kestra Private Wealth Services LLC now owns 24,568 shares of the utilities provider’s stock worth $1,725,000 after purchasing an additional 5,167 shares in the last quarter. ELCO Management Co. LLC boosted its holdings in ONEOK by 102.3% during the third quarter. ELCO Management Co. LLC now owns 26,432 shares of the utilities provider’s stock worth $1,677,000 after purchasing an additional 13,367 shares during the last quarter. Federated Hermes Inc. grew its position in ONEOK by 31.6% in the fourth quarter. Federated Hermes Inc. now owns 160,596 shares of the utilities provider’s stock valued at $11,277,000 after purchasing an additional 38,560 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. increased its stake in ONEOK by 11.4% in the 3rd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 7,729 shares of the utilities provider’s stock valued at $490,000 after buying an additional 790 shares during the last quarter. 69.13% of the stock is owned by institutional investors.

Insider Activity at ONEOK

In other news, Director Wayne Thomas Smith purchased 2,700 shares of the business’s stock in a transaction on Friday, March 1st. The shares were acquired at an average price of $75.25 per share, with a total value of $203,175.00. Following the completion of the transaction, the director now owns 2,700 shares of the company’s stock, valued at approximately $203,175. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.20% of the stock is currently owned by company insiders.

ONEOK Trading Up 0.4 %

Shares of NYSE:OKE traded up $0.28 during midday trading on Friday, hitting $77.23. 2,235,558 shares of the stock were exchanged, compared to its average volume of 2,820,855. The business’s 50-day moving average price is $78.34 and its 200 day moving average price is $72.00. The stock has a market capitalization of $45.08 billion, a price-to-earnings ratio of 17.96, a P/E/G ratio of 4.13 and a beta of 1.64. ONEOK, Inc. has a 12 month low of $55.91 and a 12 month high of $81.81. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.67 and a current ratio of 0.70.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.03. The firm had revenue of $4.78 billion during the quarter, compared to analysts’ expectations of $5.84 billion. ONEOK had a net margin of 12.54% and a return on equity of 15.94%. During the same period in the prior year, the company posted $2.34 EPS. Analysts predict that ONEOK, Inc. will post 4.95 earnings per share for the current year.

ONEOK declared that its board has initiated a share buyback program on Wednesday, January 17th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the utilities provider to reacquire up to 4.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

ONEOK Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be paid a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 5.13%. The ex-dividend date of this dividend is Tuesday, April 30th. ONEOK’s dividend payout ratio is currently 92.09%.

Analysts Set New Price Targets

Several research analysts have weighed in on OKE shares. JPMorgan Chase & Co. boosted their price target on ONEOK from $88.00 to $89.00 and gave the stock an “overweight” rating in a research report on Friday. Stifel Nicolaus boosted their target price on ONEOK from $81.00 to $88.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. US Capital Advisors downgraded ONEOK from an “overweight” rating to a “hold” rating in a report on Wednesday, March 20th. Seaport Res Ptn raised shares of ONEOK from a “neutral” rating to a “buy” rating in a research report on Thursday, February 8th. Finally, Raymond James raised their target price 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. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $83.58.

ONEOK 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.