Private Trust Co. NA Sells 303 Shares of ONEOK, Inc. (NYSE:OKE)

Private Trust Co. NA reduced its stake in shares of ONEOK, Inc. (NYSE:OKE) by 3.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,731 shares of the utilities provider’s stock after selling 303 shares during the period. Private Trust Co. NA’s holdings in ONEOK were worth $705,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. boosted its position in ONEOK by 3.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 17,480,774 shares of the utilities provider’s stock worth $1,593,023,000 after purchasing an additional 661,854 shares during the period. Tortoise Capital Advisors L.L.C. raised its holdings in ONEOK by 3.5% in the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 6,795,313 shares of the utilities provider’s stock worth $554,158,000 after acquiring an additional 232,043 shares during the period. Dimensional Fund Advisors LP lifted its position in ONEOK by 4.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,340,155 shares of the utilities provider’s stock worth $272,377,000 after acquiring an additional 132,326 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in ONEOK by 9,439.9% during the third quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider’s stock valued at $294,440,000 after acquiring an additional 3,197,121 shares during the period. Finally, abrdn plc grew its position in shares of ONEOK by 14.8% in the third quarter. abrdn plc now owns 2,149,676 shares of the utilities provider’s stock valued at $195,545,000 after purchasing an additional 277,514 shares during the last quarter. Institutional investors own 69.13% of the company’s stock.

Insider Activity

In related news, Director Pattye L. Moore sold 3,379 shares of the stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $92.01, for a total value of $310,901.79. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.20% of the company’s stock.

ONEOK Stock Up 1.7 %

OKE opened at $113.45 on Wednesday. The firm has a market cap of $66.28 billion, a price-to-earnings ratio of 23.73, a PEG ratio of 5.56 and a beta of 1.66. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. The firm’s 50-day simple moving average is $99.60 and its 200-day simple moving average is $89.46. ONEOK, Inc. has a twelve month low of $65.49 and a twelve month high of $118.07.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.05). The firm had revenue of $5.02 billion for the quarter, compared to analyst estimates of $5.81 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. During the same period in the previous year, the business posted $0.99 EPS. Equities research analysts anticipate that ONEOK, Inc. will post 5.15 EPS for the current fiscal year.

ONEOK Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were given a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 3.49%. The ex-dividend date of this dividend was Friday, November 1st. ONEOK’s dividend payout ratio (DPR) is presently 82.85%.

Analyst Ratings Changes

Several analysts recently weighed in on OKE shares. Morgan Stanley upgraded ONEOK from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $103.00 to $111.00 in a research note on Monday, September 16th. Citigroup raised their price objective on shares of ONEOK from $85.00 to $102.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Bank of America started coverage on shares of ONEOK in a research note on Thursday, October 17th. They set a “buy” rating and a $105.00 target price for the company. UBS Group raised their price target on shares of ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Finally, Mizuho upgraded shares of ONEOK to a “hold” rating in a research note on Thursday, November 7th. Eight analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $100.38.

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.