Trust Investment Advisors Sells 232 Shares of ONEOK, Inc. (NYSE:OKE)

Trust Investment Advisors lowered its stake in ONEOK, Inc. (NYSE:OKE) by 1.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,778 shares of the utilities provider’s stock after selling 232 shares during the period. ONEOK accounts for 1.1% of Trust Investment Advisors’ portfolio, making the stock its 20th largest position. Trust Investment Advisors’ holdings in ONEOK were worth $1,776,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of the company. Rise Advisors LLC bought a new position in ONEOK in the first quarter valued at about $25,000. LifeSteps Financial Inc. bought a new position in shares of ONEOK in the 1st quarter valued at about $26,000. Quest Partners LLC bought a new position in shares of ONEOK in the 2nd quarter valued at about $28,000. Ridgewood Investments LLC bought a new stake in shares of ONEOK during the second quarter worth approximately $31,000. Finally, American National Bank bought a new stake in shares of ONEOK during the first quarter worth approximately $32,000. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Stock Performance

OKE opened at $93.77 on Friday. The company has a market capitalization of $54.73 billion, a price-to-earnings ratio of 21.81, a P/E/G ratio of 4.49 and a beta of 1.67. The business’s 50-day moving average price is $87.05 and its two-hundred day moving average price is $82.30. ONEOK, Inc. has a 1 year low of $60.58 and a 1 year high of $95.28. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.62 and a quick ratio of 0.41.

ONEOK (NYSE:OKE) last announced its earnings results on Monday, August 5th. The utilities provider reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.12. ONEOK had a return on equity of 15.54% and a net margin of 13.41%. The business had revenue of $4.89 billion for the quarter, compared to analyst estimates of $5.52 billion. During the same quarter last year, the firm earned $1.04 EPS. Equities analysts expect that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Thursday, August 1st were given a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 4.22%. The ex-dividend date of this dividend was Thursday, August 1st. ONEOK’s dividend payout ratio (DPR) is currently 92.09%.

Wall Street Analyst Weigh In

A number of research firms have commented on OKE. Barclays lifted their target price on shares of ONEOK from $82.00 to $94.00 and gave the stock an “equal weight” rating in a report on Monday. Scotiabank upped their price objective on ONEOK from $88.00 to $102.00 and gave the company a “sector outperform” rating in a report on Friday, August 30th. Morgan Stanley raised ONEOK from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $103.00 to $111.00 in a research note on Monday. JPMorgan Chase & Co. upped their price target on ONEOK from $89.00 to $92.00 and gave the company an “overweight” rating in a research note on Wednesday, June 26th. Finally, Royal Bank of Canada lifted their price objective on shares of ONEOK from $84.00 to $89.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $92.38.

Insider Buying and Selling at ONEOK

In other news, Director Pattye L. Moore sold 3,379 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $92.01, for a total value of $310,901.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.20% of the company’s stock.

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.