Heritage Trust Co Buys New Shares in ONEOK, Inc. (NYSE:OKE)

Heritage Trust Co purchased a new stake in shares of ONEOK, Inc. (NYSE:OKE - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 72,594 shares of the utilities provider's stock, valued at approximately $7,288,000. ONEOK accounts for approximately 0.9% of Heritage Trust Co's holdings, making the stock its 26th biggest position.

Other institutional investors also recently bought and sold shares of the company. Summit Financial Wealth Advisors LLC lifted its stake in shares of ONEOK by 37.1% in the 4th quarter. Summit Financial Wealth Advisors LLC now owns 7,870 shares of the utilities provider's stock valued at $768,000 after purchasing an additional 2,129 shares during the period. Argent Trust Co lifted its position in ONEOK by 5.3% during the fourth quarter. Argent Trust Co now owns 12,751 shares of the utilities provider's stock valued at $1,280,000 after buying an additional 640 shares during the period. Treasurer of the State of North Carolina lifted its position in ONEOK by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 256,639 shares of the utilities provider's stock valued at $25,767,000 after buying an additional 1,610 shares during the period. Legacy Financial Advisors Inc. boosted its holdings in shares of ONEOK by 12.9% during the 4th quarter. Legacy Financial Advisors Inc. now owns 2,713 shares of the utilities provider's stock valued at $272,000 after buying an additional 310 shares in the last quarter. Finally, Faithward Advisors LLC grew its position in shares of ONEOK by 0.9% in the 4th quarter. Faithward Advisors LLC now owns 50,179 shares of the utilities provider's stock worth $5,038,000 after buying an additional 433 shares during the period. 69.13% of the stock is owned by institutional investors.

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Analyst Ratings Changes

OKE has been the topic of several research reports. Barclays dropped their price objective on shares of ONEOK from $105.00 to $101.00 and set an "equal weight" rating on the stock in a research note on Friday, March 7th. Scotiabank cut their price target on ONEOK from $109.00 to $102.00 and set a "sector outperform" rating on the stock in a research note on Thursday, March 6th. Citigroup started coverage on ONEOK in a research report on Friday, February 28th. They set a "buy" rating and a $110.00 price objective for the company. Morgan Stanley boosted their target price on ONEOK from $111.00 to $133.00 and gave the stock an "overweight" rating in a report on Tuesday, March 25th. Finally, Wells Fargo & Company reduced their price target on ONEOK from $107.00 to $102.00 and set an "equal weight" rating for the company in a report on Wednesday, February 26th. Seven investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $105.00.

ONEOK Stock Performance

NYSE:OKE traded up $0.70 during trading hours on Tuesday, reaching $84.08. The company had a trading volume of 3,285,855 shares, compared to its average volume of 3,158,173. The firm has a market cap of $52.52 billion, a price-to-earnings ratio of 17.59, a PEG ratio of 3.77 and a beta of 1.20. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. The firm's 50 day moving average price is $94.34 and its 200-day moving average price is $99.61. ONEOK, Inc. has a 52 week low of $75.48 and a 52 week high of $118.07.

ONEOK (NYSE:OKE - Get Free Report) last issued its quarterly earnings data on Monday, February 24th. The utilities provider reported $1.57 EPS for the quarter, topping the consensus estimate of $1.46 by $0.11. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The company had revenue of $7 billion during the quarter, compared to analyst estimates of $6.18 billion. On average, analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were issued a $1.03 dividend. This is an increase from ONEOK's previous quarterly dividend of $0.99. The ex-dividend date was Monday, February 3rd. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.90%. ONEOK's dividend payout ratio (DPR) is presently 79.69%.

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.