ONEOK, Inc. (NYSE:OKE) Position Boosted by Charles Schwab Trust Co

Charles Schwab Trust Co increased its position in ONEOK, Inc. (NYSE:OKE) by 2.3% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 35,309 shares of the utilities provider’s stock after purchasing 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.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Greenline Partners LLC acquired a new stake in ONEOK during the fourth quarter worth about $32,000. Vermillion Wealth Management Inc. acquired a new stake in shares of ONEOK during the 4th quarter worth approximately $37,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of ONEOK during the 4th quarter worth approximately $39,000. Canton Hathaway LLC bought a new stake in shares of ONEOK in the 4th quarter worth approximately $40,000. Finally, J.Safra Asset Management Corp acquired a new position in ONEOK during the 4th quarter valued at approximately $48,000. 69.13% of the stock is owned by institutional investors.

ONEOK Stock Down 3.2%

NYSE OKE opened at $80.61 on Thursday. The company has a market capitalization of $50.35 billion, a P/E ratio of 16.86, a PEG ratio of 3.77 and a beta of 0.94. ONEOK, Inc. has a 12 month low of $75.48 and a 12 month 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 company’s 50 day simple moving average is $84.21 and its 200 day simple moving average is $95.81.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Tuesday, April 29th. The utilities provider reported $1.04 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts’ expectations of $8.23 billion. During the same period in the prior year, the company posted $1.09 earnings per share. Equities research analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Announces Dividend

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

Analysts Set New Price Targets

Several brokerages have weighed in on OKE. Stifel Nicolaus dropped their target price on ONEOK from $110.00 to $107.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. Morgan Stanley lifted their price objective on shares of ONEOK from $111.00 to $133.00 and gave the company an “overweight” rating in a research report on Tuesday, March 25th. Barclays decreased 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. Wolfe Research upgraded shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price target on the stock in a research note on Monday, February 10th. Finally, Citigroup reduced their price objective on ONEOK from $110.00 to $102.00 and set a “buy” rating for the company in a research report on Tuesday, May 6th. Six 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.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $103.92.

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.