Trust Co. of Vermont Has $97,000 Stake in ONEOK, Inc. (NYSE:OKE)

Trust Co. of Vermont trimmed its position in ONEOK, Inc. (NYSE:OKE) by 27.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,062 shares of the utilities provider’s stock after selling 408 shares during the quarter. Trust Co. of Vermont’s holdings in ONEOK were worth $97,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of OKE. Wellington Management Group LLP raised its stake in ONEOK by 2,643.5% during the fourth quarter. Wellington Management Group LLP now owns 1,170,739 shares of the utilities provider’s stock worth $82,209,000 after acquiring an additional 1,128,066 shares in the last quarter. M&G Plc acquired a new position in ONEOK during the first quarter worth $77,634,000. Kayne Anderson Capital Advisors LP raised its stake in ONEOK by 28.7% during the first quarter. Kayne Anderson Capital Advisors LP now owns 3,705,367 shares of the utilities provider’s stock worth $297,059,000 after acquiring an additional 825,464 shares in the last quarter. Bahl & Gaynor Inc. raised its stake in ONEOK by 3,648.4% during the second quarter. Bahl & Gaynor Inc. now owns 514,954 shares of the utilities provider’s stock worth $41,995,000 after acquiring an additional 501,216 shares in the last quarter. Finally, Cetera Investment Advisers raised its stake in ONEOK by 370.1% during the first quarter. Cetera Investment Advisers now owns 615,276 shares of the utilities provider’s stock worth $49,327,000 after acquiring an additional 484,403 shares in the last quarter. 69.13% of the stock is currently owned by institutional investors and hedge funds.

ONEOK Stock Performance

OKE opened at $97.23 on Friday. The business has a fifty day simple moving average of $91.79 and a 200 day simple moving average of $84.68. The company has a market capitalization of $56.79 billion, a PE ratio of 21.18, a price-to-earnings-growth ratio of 4.82 and a beta of 1.67. 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, Inc. has a 1 year low of $63.33 and a 1 year high of $98.01.

ONEOK (NYSE:OKE) last released its earnings results on Monday, August 5th. The utilities provider reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.12. The firm had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $5.52 billion. ONEOK had a return on equity of 15.54% and a net margin of 13.41%. During the same period in the prior year, the company posted $1.04 EPS. Research analysts expect that ONEOK, Inc. will post 5.09 EPS for the current year.

ONEOK Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Friday, November 1st will be issued a dividend of $0.99 per share. The ex-dividend date is Friday, November 1st. This represents a $3.96 dividend on an annualized basis and a dividend yield of 4.07%. ONEOK’s dividend payout ratio (DPR) is currently 86.27%.

Insider Transactions at ONEOK

In other news, Director Pattye L. Moore sold 3,379 shares of the business’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $92.01, for a total transaction of $310,901.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.20% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

OKE has been the subject of several recent analyst reports. JPMorgan Chase & Co. increased their price objective on ONEOK from $89.00 to $92.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 26th. Truist Financial raised their target price on ONEOK from $81.00 to $83.00 and gave the company a “hold” rating in a research note on Wednesday, July 31st. Mizuho raised their target price on ONEOK from $81.00 to $85.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Barclays raised their target price on ONEOK from $82.00 to $94.00 and gave the company an “equal weight” rating in a research note on Monday, September 16th. Finally, Tudor Pickering upgraded ONEOK to a “hold” rating in a research note on Thursday, July 18th. Eight research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $94.77.

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.