Charles Schwab Trust Co Lowers Holdings in ONEOK, Inc. (NYSE:OKE)

Charles Schwab Trust Co lessened its stake in ONEOK, Inc. (NYSE:OKE) by 0.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,521 shares of the utilities provider’s stock after selling 133 shares during the quarter. Charles Schwab Trust Co’s holdings in ONEOK were worth $3,146,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of OKE. Rise Advisors LLC bought a new stake in ONEOK in the 1st quarter worth about $25,000. Quest Partners LLC bought a new stake in ONEOK in the 2nd quarter worth about $28,000. Matrix Trust Co bought a new stake in ONEOK in the 3rd quarter worth about $29,000. Ridgewood Investments LLC bought a new stake in ONEOK in the 2nd quarter worth about $31,000. Finally, American National Bank bought a new stake in ONEOK in the 1st quarter worth about $32,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on OKE. JPMorgan Chase & Co. boosted their price target on ONEOK from $89.00 to $92.00 and gave the company an “overweight” rating in a research note on Wednesday, June 26th. Truist Financial boosted their price objective on ONEOK from $81.00 to $83.00 and gave the company a “hold” rating in a research note on Wednesday, July 31st. Scotiabank boosted their price target on ONEOK from $88.00 to $102.00 and gave the stock a “sector outperform” rating in a report on Friday, August 30th. Royal Bank of Canada upped their price objective on ONEOK from $84.00 to $89.00 and gave the stock a “sector perform” rating in a report on Thursday, August 22nd. Finally, Wells Fargo & Company boosted their target price on ONEOK from $91.00 to $100.00 and gave the company an “overweight” rating in a research report on Friday, August 30th. Eight investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $92.38.

Insider Transactions at ONEOK

In related news, Director Pattye L. Moore sold 3,379 shares of the business’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $92.01, for a total value of $310,901.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.20% of the company’s stock.

ONEOK Stock Performance

ONEOK stock traded up $1.35 during mid-day trading on Friday, reaching $96.04. 1,389,062 shares of the company were exchanged, compared to its average volume of 2,746,240. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.41 and a current ratio of 0.62. The firm’s 50-day simple moving average is $90.11 and its two-hundred day simple moving average is $83.95. The firm has a market cap of $56.09 billion, a PE ratio of 20.63, a price-to-earnings-growth ratio of 4.68 and a beta of 1.67. ONEOK, Inc. has a twelve month low of $63.33 and a twelve month high of $96.14.

ONEOK (NYSE:OKE) last issued its earnings results on Monday, August 5th. The utilities provider reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.12. The firm had revenue of $4.89 billion for the quarter, compared to analysts’ expectations of $5.52 billion. ONEOK had a return on equity of 15.54% and a net margin of 13.41%. During the same quarter last year, the firm earned $1.04 earnings per share. Equities analysts predict that ONEOK, Inc. will post 5.09 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Thursday, August 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 4.12%. The ex-dividend date was Thursday, August 1st. ONEOK’s payout ratio is 86.27%.

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.