Trust Investment Advisors Purchases 1,890 Shares of ONEOK, Inc. (NYSE:OKE)

Trust Investment Advisors grew its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 9.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,500 shares of the utilities provider’s stock after purchasing an additional 1,890 shares during the quarter. ONEOK comprises approximately 1.4% of Trust Investment Advisors’ portfolio, making the stock its 16th biggest holding. Trust Investment Advisors’ holdings in ONEOK were worth $2,159,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of OKE. Kieckhefer Group LLC purchased a new position in ONEOK in the 4th quarter valued at approximately $30,000. Canton Hathaway LLC bought a new stake in shares of ONEOK during the 4th quarter valued at $40,000. J.Safra Asset Management Corp purchased a new stake in ONEOK during the 4th quarter worth about $48,000. VSM Wealth Advisory LLC bought a new position in ONEOK in the 4th quarter worth about $50,000. Finally, OFI Invest Asset Management purchased a new position in ONEOK during the 4th quarter valued at about $51,000. Institutional investors own 69.13% of the company’s stock.

ONEOK Stock Up 0.1 %

Shares of NYSE OKE opened at $102.42 on Wednesday. The stock has a market capitalization of $63.94 billion, a P/E ratio of 21.43, a PEG ratio of 3.77 and a beta of 1.70. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. ONEOK, Inc. has a one year low of $76.23 and a one year high of $118.07. The firm’s 50 day simple moving average is $98.84 and its two-hundred day simple moving average is $100.07.

ONEOK (NYSE:OKE) last issued its earnings results 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 company had revenue of $7 billion for the quarter, compared to analysts’ expectations of $6.18 billion. As a group, analysts expect that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were given a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 4.02%. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date was Monday, February 3rd. ONEOK’s dividend payout ratio (DPR) is presently 79.69%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on OKE. Citigroup assumed coverage on shares of ONEOK in a report on Friday, February 28th. They issued a “buy” rating and a $110.00 price target on the stock. Wolfe Research raised shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price target for the company in a report on Monday, February 10th. Morgan Stanley upped their price target on shares of ONEOK from $111.00 to $133.00 and gave the stock an “overweight” rating in a report on Tuesday. Truist Financial lifted their price objective on ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research note on Tuesday, December 3rd. Finally, Scotiabank decreased their target price on ONEOK from $109.00 to $102.00 and set a “sector outperform” rating on the stock in a research note on Thursday, March 6th. Seven equities research 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $105.00.

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.