Trust Investment Advisors Grows Stock Holdings in ONEOK, Inc. (NYSE:OKE)

Trust Investment Advisors lifted its position in shares of ONEOK, Inc. (NYSE:OKE) by 9.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,500 shares of the utilities provider’s stock after purchasing an additional 1,890 shares during the period. ONEOK accounts for approximately 1.4% of Trust Investment Advisors’ portfolio, making the stock its 16th largest position. Trust Investment Advisors’ holdings in ONEOK were worth $2,159,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Nwam LLC bought a new stake in shares of ONEOK in the 3rd quarter worth approximately $224,000. Cerity Partners LLC raised its stake in ONEOK by 21.5% during the third quarter. Cerity Partners LLC now owns 154,250 shares of the utilities provider’s stock valued at $14,057,000 after buying an additional 27,305 shares during the last quarter. Summit Trail Advisors LLC boosted its holdings in ONEOK by 23.4% in the third quarter. Summit Trail Advisors LLC now owns 8,640 shares of the utilities provider’s stock worth $787,000 after acquiring an additional 1,637 shares in the last quarter. Daiwa Securities Group Inc. grew its stake in shares of ONEOK by 9.4% in the third quarter. Daiwa Securities Group Inc. now owns 84,908 shares of the utilities provider’s stock worth $7,737,000 after acquiring an additional 7,280 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of ONEOK during the third quarter valued at $990,000. 69.13% of the stock is owned by institutional investors.

Analysts Set New Price Targets

OKE has been the topic of several recent analyst reports. Morgan Stanley increased their price objective on shares of ONEOK from $111.00 to $133.00 and gave the company an “overweight” rating in a research report on Tuesday. Wells Fargo & Company reduced their price target on shares of ONEOK from $107.00 to $102.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 26th. Scotiabank lowered their price objective on ONEOK from $109.00 to $102.00 and set a “sector outperform” rating on the stock in a research report on Thursday, March 6th. US Capital Advisors raised ONEOK from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, February 3rd. Finally, Barclays lowered their price target on ONEOK from $105.00 to $101.00 and set an “equal weight” rating on the stock in a report on Friday, March 7th. Seven research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $105.00.

ONEOK Stock Performance

NYSE:OKE opened at $102.42 on Wednesday. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. The company has a market cap of $63.94 billion, a price-to-earnings ratio of 21.43, a PEG ratio of 3.77 and a beta of 1.70. ONEOK, Inc. has a 1 year low of $76.23 and a 1 year high of $118.07. The stock’s 50 day simple moving average is $98.84 and its two-hundred day simple moving average is $100.07.

ONEOK (NYSE:OKE) last released its quarterly earnings data on Monday, February 24th. The utilities provider reported $1.57 EPS for the quarter, beating the consensus estimate of $1.46 by $0.11. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The business had revenue of $7 billion during the quarter, compared to analyst estimates of $6.18 billion. As a group, equities analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were paid a dividend of $1.03 per share. This is a boost from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 annualized dividend and a yield of 4.02%. The ex-dividend date was Monday, February 3rd. ONEOK’s payout ratio is presently 79.69%.

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.