Huntington National Bank Sells 1,371 Shares of ONEOK, Inc. (NYSE:OKE)

Huntington National Bank lessened its position in shares of ONEOK, Inc. (NYSE:OKE) by 7.9% in the fourth quarter, Holdings Channel.com reports. The firm owned 15,892 shares of the utilities provider’s stock after selling 1,371 shares during the period. Huntington National Bank’s holdings in ONEOK were worth $1,596,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of ONEOK by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 70,120,264 shares of the utilities provider’s stock worth $7,040,075,000 after buying an additional 558,789 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of ONEOK by 5.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 18,414,781 shares of the utilities provider’s stock worth $1,848,844,000 after purchasing an additional 934,007 shares in the last quarter. Geode Capital Management LLC boosted its holdings in ONEOK by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 14,037,890 shares of the utilities provider’s stock worth $1,405,697,000 after purchasing an additional 357,015 shares during the last quarter. Norges Bank bought a new position in ONEOK in the fourth quarter valued at $539,554,000. Finally, Wellington Management Group LLP increased its stake in ONEOK by 433.4% in the 4th quarter. Wellington Management Group LLP now owns 4,206,906 shares of the utilities provider’s stock valued at $422,373,000 after buying an additional 3,418,207 shares during the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Stock Down 7.6 %

ONEOK stock opened at $92.78 on Friday. ONEOK, Inc. has a twelve month low of $76.23 and a twelve month high of $118.07. The stock has a market cap of $57.93 billion, a P/E ratio of 19.41, a P/E/G ratio of 3.77 and a beta of 1.70. The company’s 50-day moving average price is $97.55 and its two-hundred day moving average price is $100.31. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59.

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

ONEOK Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were given a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.44%. The ex-dividend date was Monday, February 3rd. This is a boost from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s payout ratio is presently 79.69%.

Analysts Set New Price Targets

OKE has been the subject of several analyst reports. Wells Fargo & Company decreased their price objective on ONEOK from $107.00 to $102.00 and set an “equal weight” rating for the company in a report on Wednesday, February 26th. Barclays dropped their price objective on 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 upgraded shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, February 3rd. Scotiabank dropped their price target on shares of ONEOK from $109.00 to $102.00 and set a “sector outperform” rating on the stock in a research report on Thursday, March 6th. Finally, Wolfe Research raised shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price objective for the company in a research report on Monday, February 10th. 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 stock. According to MarketBeat, ONEOK presently has a consensus rating of “Moderate Buy” and a consensus target price of $105.00.

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.