First American Trust FSB Acquires Shares of 2,228 ONEOK, Inc. (NYSE:OKE)

First American Trust FSB bought a new position in shares of ONEOK, Inc. (NYSE:OKE) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 2,228 shares of the utilities provider’s stock, valued at approximately $224,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Kieckhefer Group LLC bought a new position in ONEOK during the 4th quarter worth $30,000. Canton Hathaway LLC bought a new position in shares of ONEOK in the fourth quarter worth $40,000. J.Safra Asset Management Corp acquired a new position in ONEOK in the fourth quarter valued at about $48,000. VSM Wealth Advisory LLC bought a new stake in ONEOK during the fourth quarter worth about $50,000. Finally, OFI Invest Asset Management bought a new position in ONEOK in the 4th quarter valued at about $51,000. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

OKE has been the topic of a number of recent analyst reports. Citigroup started coverage on shares of ONEOK in a research note on Friday, February 28th. They issued a “buy” rating and a $110.00 price objective on the stock. Truist Financial upped their price objective on ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research report on Tuesday, December 3rd. Barclays decreased their target price on shares of ONEOK from $105.00 to $101.00 and set an “equal weight” rating on the stock in a research note on Friday, March 7th. US Capital Advisors raised ONEOK from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, February 3rd. Finally, Morgan Stanley lifted their price target on ONEOK from $111.00 to $133.00 and gave the company an “overweight” rating in a research note on Tuesday. Seven equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $105.00.

ONEOK Stock Performance

Shares of OKE stock opened at $102.42 on Wednesday. The stock has a market capitalization of $63.94 billion, a PE ratio of 21.43, a PEG ratio of 3.77 and a beta of 1.70. The business’s 50 day simple moving average is $98.84 and its 200 day simple moving average is $100.07. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. ONEOK, Inc. has a one year low of $76.23 and a one year high of $118.07.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Monday, February 24th. The utilities provider reported $1.57 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.11. The company had revenue of $7 billion during the quarter, compared to analysts’ expectations of $6.18 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. As a group, research analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were given a dividend of $1.03 per share. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date was Monday, February 3rd. This represents a $4.12 annualized dividend and a dividend yield of 4.02%. ONEOK’s dividend payout ratio is presently 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.