Equitable Trust Co. Sells 2,317 Shares of ONEOK, Inc. (NYSE:OKE)

Equitable Trust Co. decreased its position in shares of ONEOK, Inc. (NYSE:OKE) by 46.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,704 shares of the utilities provider’s stock after selling 2,317 shares during the quarter. Equitable Trust Co.’s holdings in ONEOK were worth $271,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Kieckhefer Group LLC bought a new stake in shares of ONEOK during the 4th quarter worth approximately $30,000. Access Investment Management LLC bought a new stake in ONEOK during the third quarter worth $37,000. Values First Advisors Inc. acquired a new stake in shares of ONEOK in the 3rd quarter valued at $44,000. Fortitude Family Office LLC increased its stake in shares of ONEOK by 37.4% in the 3rd quarter. Fortitude Family Office LLC now owns 496 shares of the utilities provider’s stock valued at $45,000 after purchasing an additional 135 shares during the last quarter. Finally, Versant Capital Management Inc raised its holdings in shares of ONEOK by 98.1% during the 4th quarter. Versant Capital Management Inc now owns 525 shares of the utilities provider’s stock worth $53,000 after buying an additional 260 shares in the last quarter. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

OKE has been the topic of several research analyst reports. Bank of America began coverage on ONEOK in a research note on Thursday, October 17th. They issued a “buy” rating and a $105.00 price objective on the stock. Mizuho raised shares of ONEOK to a “hold” rating in a report on Thursday, November 7th. UBS Group increased their price objective on shares of ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Barclays began coverage on shares of ONEOK in a research note on Thursday, February 6th. They set an “equal weight” rating and a $105.00 target price on the stock. Finally, Royal Bank of Canada increased their price target on ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 16th. Seven analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $103.92.

ONEOK Trading Up 0.3 %

Shares of OKE stock opened at $98.98 on Wednesday. ONEOK, Inc. has a 1-year low of $68.65 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 market cap of $57.82 billion, a price-to-earnings ratio of 20.71, a PEG ratio of 3.67 and a beta of 1.70. The stock has a 50-day moving average of $102.68 and a 200-day moving average of $97.82.

ONEOK Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Monday, February 3rd will be given a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 4.16%. The ex-dividend date is Monday, February 3rd. This is an increase from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio is currently 86.19%.

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.