Equitable Trust Co. Has $271,000 Position in ONEOK, Inc. (NYSE:OKE)

Equitable Trust Co. trimmed its holdings in ONEOK, Inc. (NYSE:OKE) by 46.1% during the fourth quarter, Holdings Channel reports. The firm owned 2,704 shares of the utilities provider’s stock after selling 2,317 shares during the quarter. Equitable Trust Co.’s holdings in ONEOK were worth $271,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Kieckhefer Group LLC acquired a new position in ONEOK in the fourth quarter valued at approximately $30,000. Access Investment Management LLC bought a new stake in shares of ONEOK in the 3rd quarter valued at $37,000. Values First Advisors Inc. acquired a new position in shares of ONEOK during the 3rd quarter valued at $44,000. Fortitude Family Office LLC lifted its position in shares of ONEOK by 37.4% during the 3rd quarter. Fortitude Family Office LLC now owns 496 shares of the utilities provider’s stock valued at $45,000 after acquiring an additional 135 shares during the period. Finally, Versant Capital Management Inc boosted its stake in ONEOK by 98.1% during the fourth quarter. Versant Capital Management Inc now owns 525 shares of the utilities provider’s stock worth $53,000 after acquiring an additional 260 shares in the last quarter. Institutional investors own 69.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on OKE shares. US Capital Advisors upgraded shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, February 3rd. Bank of America assumed coverage on ONEOK in a research note on Thursday, October 17th. They set a “buy” rating and a $105.00 price target on the stock. Mizuho raised ONEOK to a “hold” rating in a research note on Thursday, November 7th. Wolfe Research raised ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 target price on the stock in a research report on Monday. Finally, UBS Group lifted their price target on shares of ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Seven research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, ONEOK has a consensus rating of “Moderate Buy” and a consensus target price of $103.92.

ONEOK Stock Performance

Shares of OKE stock opened at $98.98 on Wednesday. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. The firm has a 50-day moving average of $102.68 and a 200-day moving average of $97.82. ONEOK, Inc. has a one year low of $68.65 and a one year high of $118.07. The company has a market cap of $57.82 billion, a P/E ratio of 20.71, a P/E/G ratio of 3.67 and a beta of 1.70.

ONEOK Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Monday, February 3rd will be paid a $1.03 dividend. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date is Monday, February 3rd. This represents a $4.12 annualized dividend and a yield of 4.16%. ONEOK’s dividend payout ratio (DPR) is 86.19%.

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.