First Hawaiian Bank Sells 2,239 Shares of ONEOK, Inc. (NYSE:OKE)

First Hawaiian Bank lowered its position in shares of ONEOK, Inc. (NYSE:OKE) by 19.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,001 shares of the utilities provider’s stock after selling 2,239 shares during the period. First Hawaiian Bank’s holdings in ONEOK were worth $722,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in OKE. Beacon Capital Management LLC increased 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 worth $29,000 after purchasing an additional 194 shares in the last quarter. HHM Wealth Advisors LLC bought a new stake in ONEOK in the 4th quarter worth about $32,000. Security National Bank bought a new stake in ONEOK in the 4th quarter worth about $35,000. SOA Wealth Advisors LLC. raised its position in ONEOK by 283.5% in the 4th quarter. SOA Wealth Advisors LLC. now owns 510 shares of the utilities provider’s stock worth $36,000 after buying an additional 377 shares during the last quarter. Finally, Raleigh Capital Management Inc. lifted its stake in ONEOK by 108.8% during the 4th quarter. Raleigh Capital Management Inc. now owns 591 shares of the utilities provider’s stock valued at $42,000 after acquiring an additional 308 shares during the period. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on OKE. UBS Group lifted their price target on shares of ONEOK from $80.00 to $87.00 and gave the stock a “buy” rating in a research note on Tuesday, February 27th. StockNews.com raised ONEOK from a “sell” rating to a “hold” rating in a report on Friday, May 17th. JPMorgan Chase & Co. lifted their price objective on ONEOK from $88.00 to $89.00 and gave the stock an “overweight” rating in a report on Friday, May 3rd. Citigroup increased their price target on shares of ONEOK from $73.00 to $83.00 and gave the stock a “buy” rating in a research report on Tuesday, March 5th. Finally, Wells Fargo & Company increased their target price on shares of ONEOK from $81.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $84.25.

ONEOK Stock Down 1.4 %

NYSE OKE opened at $79.88 on Friday. The company has a market capitalization of $46.62 billion, a P/E ratio of 18.58, a P/E/G ratio of 4.35 and a beta of 1.65. The stock has a 50 day moving average price of $79.86 and a 200-day moving average price of $75.30. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.48 and a current ratio of 0.70. ONEOK, Inc. has a one year low of $57.37 and a one year high of $83.31.

ONEOK (NYSE:OKE) last posted its earnings results on Tuesday, April 30th. The utilities provider reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.03. The firm had revenue of $4.78 billion for the quarter, compared to the consensus estimate of $5.84 billion. ONEOK had a net margin of 12.54% and a return on equity of 15.94%. During the same period in the previous year, the firm posted $2.34 EPS. As a group, equities analysts predict that ONEOK, Inc. will post 4.94 EPS for the current fiscal year.

ONEOK Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st were given a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 4.96%. The ex-dividend date was Tuesday, April 30th. ONEOK’s dividend payout ratio (DPR) is 92.09%.

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.