ONEOK, Inc. (NYSE:OKE) Shares Sold by Hilltop National Bank

Hilltop National Bank reduced its stake in shares of ONEOK, Inc. (NYSE:OKE) by 8.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,849 shares of the utilities provider’s stock after selling 1,133 shares during the quarter. Hilltop National Bank’s holdings in ONEOK were worth $1,290,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. HM Payson & Co. increased its position in shares of ONEOK by 6.3% during the third quarter. HM Payson & Co. now owns 1,764 shares of the utilities provider’s stock worth $161,000 after purchasing an additional 105 shares in the last quarter. Claro Advisors LLC grew its stake in ONEOK by 1.6% during the 3rd quarter. Claro Advisors LLC now owns 7,132 shares of the utilities provider’s stock worth $650,000 after buying an additional 115 shares during the last quarter. Haverford Trust Co increased its position in ONEOK by 1.2% during the third quarter. Haverford Trust Co now owns 10,067 shares of the utilities provider’s stock worth $917,000 after buying an additional 117 shares during the period. Johnson Investment Counsel Inc. lifted its stake in ONEOK by 0.9% in the second quarter. Johnson Investment Counsel Inc. now owns 13,623 shares of the utilities provider’s stock valued at $1,111,000 after buying an additional 122 shares during the last quarter. Finally, Brighton Jones LLC boosted its holdings in shares of ONEOK by 1.1% in the second quarter. Brighton Jones LLC now owns 11,462 shares of the utilities provider’s stock valued at $935,000 after acquiring an additional 122 shares during the period. 69.13% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on OKE. Royal Bank of Canada upped their price target on shares of ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 16th. 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. Scotiabank began coverage on ONEOK in a research report on Friday. They issued a “sector outperform” rating and a $109.00 price target on the stock. Mizuho raised ONEOK to a “hold” rating in a research report on Thursday, November 7th. Finally, Morgan Stanley upgraded ONEOK from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $103.00 to $111.00 in a research note on Monday, September 16th. Eight equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $101.54.

ONEOK Price Performance

OKE stock traded down $1.53 during trading on Friday, hitting $101.32. The stock had a trading volume of 852,823 shares, compared to its average volume of 2,271,243. ONEOK, Inc. has a 1-year low of $67.05 and a 1-year high of $118.07. The stock has a market cap of $59.19 billion, a price-to-earnings ratio of 21.20, a price-to-earnings-growth ratio of 5.24 and a beta of 1.70. The company’s 50 day moving average price is $105.46 and its two-hundred day moving average price is $94.61. 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 announced its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($0.05). ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The firm had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $5.81 billion. During the same period in the previous year, the company posted $0.99 EPS. On average, sell-side analysts forecast that ONEOK, Inc. will post 5.1 EPS for the current fiscal year.

ONEOK Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 1st were paid a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.91%. The ex-dividend date of this dividend was Friday, November 1st. ONEOK’s dividend payout ratio is currently 82.85%.

ONEOK 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.