First National Trust Co Sells 267 Shares of ONEOK, Inc. (NYSE:OKE)

First National Trust Co lowered its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 3.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,154 shares of the utilities provider’s stock after selling 267 shares during the quarter. First National Trust Co’s holdings in ONEOK were worth $502,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Pinnacle Associates Ltd. grew its holdings in ONEOK by 27.2% during the third quarter. Pinnacle Associates Ltd. now owns 5,707 shares of the utilities provider’s stock valued at $362,000 after purchasing an additional 1,221 shares during the last quarter. Stratos Wealth Advisors LLC acquired a new position in ONEOK in the 3rd quarter valued at $238,000. Independent Advisor Alliance raised its holdings in ONEOK by 47.8% in the 3rd quarter. Independent Advisor Alliance now owns 14,099 shares of the utilities provider’s stock worth $894,000 after acquiring an additional 4,558 shares during the period. J.W. Cole Advisors Inc. lifted its position in ONEOK by 53.1% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 8,847 shares of the utilities provider’s stock worth $561,000 after acquiring an additional 3,070 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in ONEOK by 9.2% during the third quarter. Bank of New York Mellon Corp now owns 4,755,340 shares of the utilities provider’s stock valued at $301,631,000 after acquiring an additional 401,728 shares during the period. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Price Performance

Shares of ONEOK stock traded up $0.28 during midday trading on Friday, hitting $77.23. 2,235,558 shares of the company were exchanged, compared to its average volume of 2,820,855. The firm has a 50 day simple moving average of $78.34 and a 200-day simple moving average of $72.00. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.70 and a quick ratio of 0.67. The firm has a market cap of $45.08 billion, a P/E ratio of 17.96, a PEG ratio of 4.13 and a beta of 1.64. ONEOK, Inc. has a 52 week low of $55.91 and a 52 week high of $81.81.

ONEOK (NYSE:OKE) last released its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.03. ONEOK had a return on equity of 15.94% and a net margin of 12.54%. The firm had revenue of $4.78 billion during the quarter, compared to analyst estimates of $5.84 billion. During the same period in the prior year, the company posted $2.34 earnings per share. Research analysts forecast that ONEOK, Inc. will post 4.95 earnings per share for the current year.

ONEOK Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be given a dividend of $0.99 per share. The ex-dividend date is Tuesday, April 30th. This represents a $3.96 dividend on an annualized basis and a yield of 5.13%. ONEOK’s dividend payout ratio (DPR) is presently 92.09%.

ONEOK announced that its board has approved a stock buyback 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 repurchase up to 4.9% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

OKE has been the subject of several research analyst reports. Barclays boosted their price objective on ONEOK from $73.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 7th. Truist Financial increased their price objective on ONEOK from $71.00 to $81.00 and gave the company a “hold” rating in a research report on Thursday, March 21st. StockNews.com raised shares of ONEOK from a “sell” rating to a “hold” rating in a research report on Wednesday, March 6th. Raymond James upped their target price on shares of ONEOK from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Friday, January 19th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of ONEOK from $88.00 to $89.00 and gave the stock an “overweight” rating in a report on Friday. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $83.58.

Insider Activity at ONEOK

In other ONEOK news, Director Wayne Thomas Smith acquired 2,700 shares of ONEOK stock in a transaction on Friday, March 1st. The shares were bought at an average price of $75.25 per share, with a total value 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 purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.20% of the company’s stock.

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.