First International Bank & Trust Sells 1,567 Shares of ONEOK, Inc. (NYSE:OKE)

First International Bank & Trust trimmed its position in ONEOK, Inc. (NYSE:OKE) by 34.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 2,942 shares of the utilities provider’s stock after selling 1,567 shares during the period. First International Bank & Trust’s holdings in ONEOK were worth $295,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of OKE. Quest Partners LLC bought a new position in ONEOK in the second quarter valued at about $28,000. Matrix Trust Co acquired a new position in shares of ONEOK in the third quarter valued at approximately $29,000. Access Investment Management LLC bought a new position in ONEOK in the 3rd quarter valued at approximately $37,000. Values First Advisors Inc. acquired a new stake in ONEOK during the 3rd quarter worth approximately $44,000. Finally, Fortitude Family Office LLC grew its holdings in ONEOK by 37.4% during the 3rd quarter. Fortitude Family Office LLC now owns 496 shares of the utilities provider’s stock worth $45,000 after acquiring an additional 135 shares during the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on OKE. Wells Fargo & Company downgraded shares of ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price target for the company. in a research note on Wednesday, December 18th. Royal Bank of Canada raised their target price on ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 16th. Barclays upped their price target on ONEOK from $94.00 to $99.00 and gave the company an “equal weight” rating in a research report on Monday, November 4th. UBS Group raised their price objective on ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Finally, US Capital Advisors upgraded ONEOK from a “hold” rating to a “moderate buy” rating in a report on Tuesday, November 26th. Eight investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, ONEOK has a consensus rating of “Moderate Buy” and a consensus target price of $101.00.

ONEOK Stock Up 1.1 %

Shares of NYSE OKE opened at $102.68 on Friday. ONEOK, Inc. has a 12-month low of $67.05 and a 12-month high of $118.07. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. The firm has a market cap of $59.98 billion, a PE ratio of 21.48, a P/E/G ratio of 5.24 and a beta of 1.70. The company’s fifty day simple moving average is $105.46 and its 200 day simple moving average is $94.61.

ONEOK (NYSE:OKE) last released its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The company had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $5.81 billion. During the same period last year, the company earned $0.99 EPS. As a group, sell-side analysts forecast that ONEOK, Inc. will post 5.1 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 1st were given a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.86%. The ex-dividend date was Friday, November 1st. ONEOK’s payout ratio is 82.85%.

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.