Charles Schwab Trust Co Buys 783 Shares of ONEOK, Inc. (NYSE:OKE)

Charles Schwab Trust Co lifted its stake in ONEOK, Inc. (NYSE:OKE) by 2.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 35,309 shares of the utilities provider’s stock after buying an additional 783 shares during the period. Charles Schwab Trust Co’s holdings in ONEOK were worth $3,503,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in OKE. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of ONEOK by 9.7% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,544,208 shares of the utilities provider’s stock valued at $155,038,000 after buying an additional 136,071 shares in the last quarter. Cinctive Capital Management LP acquired a new position in ONEOK in the fourth quarter worth about $19,909,000. Americana Partners LLC lifted its stake in ONEOK by 258.6% during the fourth quarter. Americana Partners LLC now owns 271,836 shares of the utilities provider’s stock worth $27,292,000 after purchasing an additional 196,038 shares during the period. Cbre Investment Management Listed Real Assets LLC acquired a new stake in ONEOK during the fourth quarter valued at approximately $34,360,000. Finally, Dynamic Technology Lab Private Ltd grew its stake in shares of ONEOK by 41.8% in the 4th quarter. Dynamic Technology Lab Private Ltd now owns 15,399 shares of the utilities provider’s stock valued at $1,546,000 after purchasing an additional 4,538 shares during the period. 69.13% of the stock is owned by institutional investors and hedge funds.

ONEOK Stock Performance

OKE stock opened at $80.61 on Thursday. The company has a 50 day moving average price of $84.21 and a 200 day moving average price of $95.81. ONEOK, Inc. has a fifty-two week low of $75.48 and a fifty-two week high of $118.07. 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 stock has a market capitalization of $50.35 billion, a PE ratio of 16.86, a price-to-earnings-growth ratio of 3.77 and a beta of 0.94.

ONEOK (NYSE:OKE) last released its earnings results on Tuesday, April 29th. The utilities provider reported $1.04 earnings per share for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.24). ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The firm had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $8.23 billion. During the same quarter in the previous year, the firm earned $1.09 EPS. Analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 5th were given a dividend of $1.03 per share. The ex-dividend date of this dividend was Monday, May 5th. This represents a $4.12 dividend on an annualized basis and a yield of 5.11%. ONEOK’s payout ratio is presently 80.47%.

Analysts Set New Price Targets

Several research firms recently commented on OKE. Morgan Stanley raised their target price on ONEOK from $111.00 to $133.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 25th. Barclays dropped their target price on shares of ONEOK from $101.00 to $91.00 and set an “equal weight” rating for the company in a research report on Tuesday. Wells Fargo & Company reduced their price target on shares of ONEOK from $102.00 to $93.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 1st. Wolfe Research upgraded shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 target price for the company in a research note on Monday, February 10th. Finally, Stifel Nicolaus decreased their price target on ONEOK from $110.00 to $107.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. Six investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $103.92.

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.