Private Trust Co. NA Raises Holdings in ONEOK, Inc. (NYSE:OKE)

by · The Cerbat Gem

Private Trust Co. NA increased its stake in shares of ONEOK, Inc. (NYSE:OKE – Free Report) by 15.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,505 shares of the utilities provider’s stock after purchasing an additional 1,444 shares during the period. Private Trust Co. NA’s holdings in ONEOK were worth $1,042,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Greenline Partners LLC purchased a new position in ONEOK during the fourth quarter worth $32,000. First Pacific Financial purchased a new stake in shares of ONEOK in the first quarter valued at $34,000. Vermillion Wealth Management Inc. acquired a new stake in shares of ONEOK during the fourth quarter valued at $37,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in ONEOK during the 4th quarter worth about $39,000. Finally, MorganRosel Wealth Management LLC acquired a new position in ONEOK in the 1st quarter valued at about $39,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Trading Down 0.5%

Shares of OKE opened at $81.73 on Friday. ONEOK, Inc. has a twelve month low of $75.48 and a twelve month high of $118.07. The firm has a market capitalization of $51.45 billion, a P/E ratio of 15.96, a price-to-earnings-growth ratio of 1.61 and a beta of 0.93. The company has a current ratio of 0.67, a quick ratio of 0.52 and a debt-to-equity ratio of 1.35. The stock’s fifty day simple moving average is $82.36 and its 200 day simple moving average is $91.68.

ONEOK (NYSE:OKE – Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The utilities provider reported $1.04 EPS for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.24). The firm had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $8.23 billion. ONEOK had a return on equity of 15.58% and a net margin of 12.15%. During the same quarter last year, the business earned $1.09 earnings per share. On average, equities research analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 5th were issued a $1.03 dividend. The ex-dividend date was Monday, May 5th. This represents a $4.12 annualized dividend and a yield of 5.04%. ONEOK’s payout ratio is 80.47%.

Analyst Upgrades and Downgrades

OKE has been the topic of several analyst reports. Stifel Nicolaus decreased their price target on shares of ONEOK from $110.00 to $107.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. Barclays decreased their target price on shares of ONEOK from $101.00 to $91.00 and set an “equal weight” rating on the stock in a research report on Tuesday, June 3rd. Morgan Stanley boosted their price target on ONEOK from $111.00 to $133.00 and gave the company an “overweight” rating in a report on Tuesday, March 25th. JPMorgan Chase & Co. increased their price target on ONEOK from $94.00 to $97.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, Citigroup lowered their price objective on ONEOK from $110.00 to $102.00 and set a “buy” rating for the company in a research report on Tuesday, May 6th. Six research 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $104.08.

Get Our Latest Analysis on OKE

ONEOK Company Profile

(Free Report)

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.

Further Reading

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