Private Trust Co. NA Acquires 1,330 Shares of ONEOK, Inc. (NYSE:OKE)

Private Trust Co. NA grew its holdings in ONEOK, Inc. (NYSE:OKE) by 17.2% during the 4th quarter, Holdings Channel reports. The fund owned 9,061 shares of the utilities provider’s stock after buying an additional 1,330 shares during the period. Private Trust Co. NA’s holdings in ONEOK were worth $910,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. National Pension Service raised its position in ONEOK by 1.6% in the third quarter. National Pension Service now owns 763,833 shares of the utilities provider’s stock worth $69,608,000 after acquiring an additional 12,349 shares during the period. Leavell Investment Management Inc. raised its position in ONEOK by 3.8% in the third quarter. Leavell Investment Management Inc. now owns 141,236 shares of the utilities provider’s stock worth $12,871,000 after acquiring an additional 5,175 shares during the period. Nations Financial Group Inc. IA ADV raised its position in ONEOK by 11.1% in the third quarter. Nations Financial Group Inc. IA ADV now owns 54,557 shares of the utilities provider’s stock worth $4,972,000 after acquiring an additional 5,451 shares during the period. FNY Investment Advisers LLC raised its position in ONEOK by 14,279.1% in the fourth quarter. FNY Investment Advisers LLC now owns 22,000 shares of the utilities provider’s stock worth $2,208,000 after acquiring an additional 21,847 shares during the period. Finally, Kingswood Wealth Advisors LLC raised its position in shares of ONEOK by 57.9% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 14,506 shares of the utilities provider’s stock valued at $1,456,000 after purchasing an additional 5,321 shares during the period. 69.13% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

OKE has been the topic of several recent analyst reports. Citigroup initiated coverage on shares of ONEOK in a research report on Friday. They set a “buy” rating and a $110.00 price objective on the stock. Scotiabank initiated coverage on shares of ONEOK in a research report on Friday, January 10th. They set a “sector outperform” rating and a $109.00 price objective on the stock. Mizuho upgraded shares of ONEOK to a “hold” rating in a research report on Thursday, November 7th. UBS Group raised their price objective on shares of ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Finally, Truist Financial raised their price objective on shares of ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research report on Tuesday, December 3rd. Seven investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $104.15.

ONEOK Stock Performance

OKE opened at $100.29 on Friday. The stock has a market capitalization of $58.59 billion, a price-to-earnings ratio of 20.98, a PEG ratio of 3.77 and a beta of 1.70. The company has a fifty day moving average of $100.91 and a 200 day moving average of $99.10. ONEOK, Inc. has a fifty-two week low of $74.39 and a fifty-two week high of $118.07. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81.

ONEOK (NYSE:OKE) last issued its quarterly earnings data on Monday, February 24th. The utilities provider reported $1.57 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $6.18 billion. As a group, sell-side analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were paid a $1.03 dividend. This is a boost from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.11%. The ex-dividend date was Monday, February 3rd. ONEOK’s dividend payout ratio (DPR) is presently 86.19%.

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.