Trust Investment Advisors lessened its position in ONEOK, Inc. (NYSE:OKE – Free Report) by 1.1% in the second quarter, HoldingsChannel.com reports. The fund owned 21,778 shares of the utilities provider’s stock after selling 232 shares during the period. ONEOK comprises about 1.1% of Trust Investment Advisors’ portfolio, making the stock its 20th biggest holding. Trust Investment Advisors’ holdings in ONEOK were worth $1,776,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors also recently modified their holdings of the company. Rise Advisors LLC bought a new position in ONEOK during the first quarter worth about $25,000. LifeSteps Financial Inc. acquired a new stake in shares of ONEOK in the first quarter valued at approximately $26,000. Quest Partners LLC bought a new position in shares of ONEOK during the 2nd quarter worth approximately $28,000. Ridgewood Investments LLC acquired a new position in shares of ONEOK during the 2nd quarter worth approximately $31,000. Finally, American National Bank bought a new stake in ONEOK in the 1st quarter valued at $32,000. 69.13% of the stock is currently owned by institutional investors and hedge funds.
ONEOK Price Performance
Shares of NYSE:OKE opened at $93.77 on Friday. The firm has a 50 day moving average of $87.05 and a 200-day moving average of $82.30. The stock has a market capitalization of $54.73 billion, a PE ratio of 21.81, a PEG ratio of 4.49 and a beta of 1.67. The company has a current ratio of 0.62, a quick ratio of 0.41 and a debt-to-equity ratio of 1.22. ONEOK, Inc. has a 12 month low of $60.58 and a 12 month high of $95.28.
ONEOK Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Thursday, August 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 4.22%. The ex-dividend date was Thursday, August 1st. ONEOK’s payout ratio is 92.09%.
Insider Transactions at ONEOK
In related news, Director Pattye L. Moore sold 3,379 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $92.01, for a total value of $310,901.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.20% of the company’s stock.
Analysts Set New Price Targets
OKE has been the subject of a number of research analyst reports. Scotiabank lifted their price objective on shares of ONEOK from $88.00 to $102.00 and gave the stock a “sector outperform” rating in a research report on Friday, August 30th. Morgan Stanley raised shares of ONEOK from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $103.00 to $111.00 in a report on Monday. Truist Financial boosted their price objective on ONEOK from $81.00 to $83.00 and gave the stock a “hold” rating in a report on Wednesday, July 31st. Tudor Pickering upgraded ONEOK to a “hold” rating in a research note on Thursday, July 18th. Finally, Barclays boosted their price target on ONEOK from $82.00 to $94.00 and gave the company an “equal weight” rating in a research note on Monday. One analyst has rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $92.38.
Check Out Our Latest Research Report on OKE
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.
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