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

Trust Investment Advisors cut its holdings in ONEOK, Inc. (NYSE:OKE) by 12.4% in the fourth quarter, HoldingsChannel reports. The firm owned 22,083 shares of the utilities provider’s stock after selling 3,116 shares during the quarter. ONEOK accounts for 1.2% of Trust Investment Advisors’ portfolio, making the stock its 25th largest position. Trust Investment Advisors’ holdings in ONEOK were worth $1,551,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Peoples Bank KS purchased a new position in shares of ONEOK in the 3rd quarter worth $25,000. Beacon Capital Management LLC lifted its holdings in shares of ONEOK by 90.7% in the 4th quarter. Beacon Capital Management LLC now owns 408 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 194 shares during the last quarter. Resurgent Financial Advisors LLC bought a new stake in ONEOK during the fourth quarter worth approximately $29,000. Worth Asset Management LLC purchased a new stake in ONEOK during the first quarter valued at approximately $30,000. Finally, Quarry LP purchased a new stake in ONEOK during the first quarter valued at approximately $31,000. Institutional investors own 69.13% of the company’s stock.

Insider Activity

In other ONEOK news, Director Wayne Thomas Smith acquired 2,700 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were purchased at an average cost of $75.25 per share, for a total transaction of $203,175.00. Following the completion of the purchase, the director now owns 2,700 shares in the company, valued at $203,175. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.20% of the company’s stock.

ONEOK Trading Up 0.3 %

Shares of ONEOK stock traded up $0.20 on Thursday, hitting $77.88. 2,304,954 shares of the company traded hands, compared to its average volume of 3,035,107. ONEOK, Inc. has a 52 week low of $55.91 and a 52 week high of $80.81. The company has a market cap of $45.45 billion, a PE ratio of 14.00, a PEG ratio of 2.22 and a beta of 1.65. The stock’s 50 day moving average price is $76.35 and its 200-day moving average price is $70.86. The company has a current ratio of 0.90, a quick ratio of 0.67 and a debt-to-equity ratio of 1.29.

ONEOK (NYSE:OKE) last issued its earnings results on Monday, February 26th. The utilities provider reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.03). The firm had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.57 billion. ONEOK had a net margin of 15.04% and a return on equity of 22.57%. During the same period last year, the firm earned $1.08 earnings per share. Equities research analysts predict that ONEOK, Inc. will post 4.98 EPS for the current year.

ONEOK announced that its Board of Directors has authorized a share repurchase plan on Wednesday, January 17th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the utilities provider to buy up to 4.9% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

ONEOK Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be given a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 5.08%. ONEOK’s dividend payout ratio (DPR) is 71.35%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on OKE. Morgan Stanley boosted their target price on ONEOK from $84.00 to $85.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 26th. Citigroup boosted their price objective on shares of ONEOK from $73.00 to $83.00 and gave the company a “buy” rating in a research report on Tuesday, March 5th. UBS Group raised their target price on shares of ONEOK from $80.00 to $87.00 and gave the stock a “buy” rating in a report on Tuesday, February 27th. Mizuho upped their price target on shares of ONEOK from $75.00 to $81.00 and gave the company a “neutral” rating in a report on Wednesday, March 20th. Finally, Truist Financial increased their price objective on shares of ONEOK from $71.00 to $81.00 and gave the stock a “hold” rating in a research report on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, ONEOK has an average rating of “Hold” and an average price target of $82.25.

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.