Texas Bank & Trust Co Makes New Investment in ONEOK, Inc. (NYSE:OKE)

Texas Bank & Trust Co bought a new position in shares of ONEOK, Inc. (NYSE:OKE) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 3,490 shares of the utilities provider’s stock, valued at approximately $350,000.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in ONEOK by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 70,120,264 shares of the utilities provider’s stock valued at $7,040,075,000 after acquiring an additional 558,789 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in ONEOK by 5.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 18,414,781 shares of the utilities provider’s stock valued at $1,848,844,000 after acquiring an additional 934,007 shares during the period. Geode Capital Management LLC lifted its stake in ONEOK by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 14,037,890 shares of the utilities provider’s stock valued at $1,405,697,000 after acquiring an additional 357,015 shares during the period. Northern Trust Corp lifted its stake in ONEOK by 15.2% during the 4th quarter. Northern Trust Corp now owns 6,535,861 shares of the utilities provider’s stock valued at $656,200,000 after acquiring an additional 864,392 shares during the period. Finally, Norges Bank acquired a new stake in ONEOK during the 4th quarter valued at approximately $539,554,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Price Performance

ONEOK stock opened at $85.74 on Monday. ONEOK, Inc. has a 52-week low of $75.48 and a 52-week high of $118.07. The firm has a market capitalization of $53.55 billion, a price-to-earnings ratio of 17.94, a PEG ratio of 3.77 and a beta of 1.01. The company has a fifty day simple moving average of $88.59 and a 200-day simple moving average of $97.71. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59.

ONEOK (NYSE:OKE) last released its earnings results on Tuesday, April 29th. The utilities provider reported $1.04 earnings per share (EPS) 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 business had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $8.23 billion. During the same period in the previous year, the company earned $1.09 EPS. On average, equities analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 5th were issued a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.81%. The ex-dividend date was Monday, May 5th. ONEOK’s payout ratio is 80.47%.

Analyst Upgrades and Downgrades

Several analysts have commented on OKE shares. Stifel Nicolaus decreased their price objective on shares of ONEOK from $110.00 to $107.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. US Capital Advisors upgraded shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, February 3rd. Scotiabank decreased their target price on shares of ONEOK from $101.00 to $100.00 and set a “sector outperform” rating for the company in a research note on Tuesday, April 29th. Morgan Stanley boosted their target price on shares of ONEOK from $111.00 to $133.00 and gave the company an “overweight” rating in a research note on Tuesday, March 25th. Finally, Barclays decreased their target price on shares of ONEOK from $105.00 to $101.00 and set an “equal weight” rating for the company in a research note on Friday, March 7th. Six investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $105.00.

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.