Trust Investment Advisors Has $1.55 Million Holdings in ONEOK, Inc. (NYSE:OKE)

Trust Investment Advisors trimmed its position in shares of ONEOK, Inc. (NYSE:OKE) by 12.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,083 shares of the utilities provider’s stock after selling 3,116 shares during the quarter. ONEOK accounts for 1.2% of Trust Investment Advisors’ investment portfolio, making the stock its 25th largest holding. Trust Investment Advisors’ holdings in ONEOK were worth $1,551,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of ONEOK by 10.3% in the third quarter. Vanguard Group Inc. now owns 59,237,038 shares of the utilities provider’s stock worth $3,757,405,000 after purchasing an additional 5,525,010 shares during the last quarter. Moneta Group Investment Advisors LLC lifted its stake in ONEOK by 118,109.3% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 22,562,603 shares of the utilities provider’s stock valued at $1,482,363,000 after acquiring an additional 22,543,516 shares in the last quarter. Deutsche Bank AG boosted its holdings in ONEOK by 37.7% during the 3rd quarter. Deutsche Bank AG now owns 13,292,341 shares of the utilities provider’s stock worth $843,133,000 after acquiring an additional 3,636,660 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of ONEOK by 9.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 10,255,430 shares of the utilities provider’s stock worth $650,502,000 after acquiring an additional 889,110 shares in the last quarter. Finally, Morgan Stanley lifted its position in shares of ONEOK by 20.3% during the third quarter. Morgan Stanley now owns 8,660,013 shares of the utilities provider’s stock valued at $549,305,000 after purchasing an additional 1,458,392 shares in the last quarter. 69.13% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Morgan Stanley upped their price objective on shares of ONEOK from $84.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 26th. Citigroup boosted their price objective on ONEOK from $73.00 to $83.00 and gave the stock a “buy” rating in a research report on Tuesday, March 5th. StockNews.com raised ONEOK from a “sell” rating to a “hold” rating in a research report on Wednesday, March 6th. Wolfe Research upgraded shares of ONEOK from an “underperform” rating to a “peer perform” rating in a research report on Wednesday, January 10th. Finally, Mizuho boosted their price target on shares of ONEOK from $75.00 to $81.00 and gave the company a “neutral” rating in a research report on Wednesday, March 20th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $82.25.

ONEOK Price Performance

NYSE:OKE traded up $0.20 during mid-day trading on Thursday, reaching $77.88. The stock had a trading volume of 2,304,954 shares, compared to its average volume of 3,035,107. The stock has a market capitalization of $45.45 billion, a P/E ratio of 14.00, a P/E/G ratio of 2.22 and a beta of 1.65. The firm has a 50 day moving average price of $76.35 and a two-hundred day moving average price of $70.86. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.67 and a current ratio of 0.90. ONEOK, Inc. has a one year low of $55.91 and a one year high of $80.81.

ONEOK (NYSE:OKE) last issued its earnings results on Monday, February 26th. The utilities provider reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.03). ONEOK had a return on equity of 22.57% and a net margin of 15.04%. The business had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.57 billion. During the same quarter in the previous year, the business earned $1.08 EPS. As a group, analysts expect that ONEOK, Inc. will post 4.98 earnings per share for the current year.

ONEOK Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be issued a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 5.08%. ONEOK’s dividend payout ratio is presently 71.35%.

ONEOK declared that its board has initiated a share repurchase plan on Wednesday, January 17th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the utilities provider to buy up to 4.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In related news, Director Wayne Thomas Smith acquired 2,700 shares of the stock in a transaction on Friday, March 1st. The stock was purchased at an average price of $75.25 per share, for a total transaction of $203,175.00. Following the completion of the transaction, the director now owns 2,700 shares of the company’s stock, valued at approximately $203,175. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.20% of the stock is owned by corporate insiders.

ONEOK Company 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.