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

Trust Investment Advisors lessened its position in ONEOK, Inc. (NYSE:OKE) 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 (NYSE:OKE) last posted its quarterly 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 company had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $5.52 billion. ONEOK had a net margin of 13.41% and a return on equity of 15.54%. During the same period last year, the company posted $1.04 EPS. On average, equities research analysts predict that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

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.

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.