First Hawaiian Bank Boosts Stock Position in ONEOK, Inc. (NYSE:OKE)

First Hawaiian Bank boosted its holdings in ONEOK, Inc. (NYSE:OKE) by 32.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,939 shares of the utilities provider’s stock after purchasing an additional 2,938 shares during the period. First Hawaiian Bank’s holdings in ONEOK were worth $974,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of OKE. Charles Schwab Investment Management Inc. raised its stake in shares of ONEOK by 21.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 12,408,725 shares of the utilities provider’s stock valued at $871,341,000 after buying an additional 2,153,295 shares during the period. Northern Trust Corp boosted its holdings in shares of ONEOK by 1.5% in the 4th quarter. Northern Trust Corp now owns 5,754,127 shares of the utilities provider’s stock worth $404,055,000 after purchasing an additional 85,736 shares in the last quarter. Norges Bank purchased a new stake in ONEOK during the 4th quarter valued at about $297,948,000. Kayne Anderson Capital Advisors LP lifted its holdings in ONEOK by 28.7% in the 1st quarter. Kayne Anderson Capital Advisors LP now owns 3,705,367 shares of the utilities provider’s stock worth $297,059,000 after buying an additional 825,464 shares during the period. Finally, First Eagle Investment Management LLC raised its position in shares of ONEOK by 12.3% in the 1st quarter. First Eagle Investment Management LLC now owns 3,465,068 shares of the utilities provider’s stock worth $277,795,000 after acquiring an additional 378,509 shares in the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Trading Up 5.0 %

Shares of NYSE:OKE traded up $3.92 during mid-day trading on Tuesday, reaching $82.54. 2,311,321 shares of the company were exchanged, compared to its average volume of 2,753,592. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.70 and a quick ratio of 0.48. The firm has a market cap of $48.17 billion, a price-to-earnings ratio of 18.95, a P/E/G ratio of 4.37 and a beta of 1.65. The firm’s 50-day simple moving average is $81.38 and its 200 day simple moving average is $78.17. ONEOK, Inc. has a 1 year low of $60.58 and a 1 year high of $86.20.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Monday, August 5th. The utilities provider reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.12. The firm had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $5.52 billion. ONEOK had a net margin of 12.54% and a return on equity of 15.94%. During the same quarter last year, the company posted $1.04 EPS. Equities research analysts forecast that ONEOK, Inc. will post 5.02 EPS for the current year.

ONEOK Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 14th. Shareholders of record on Thursday, August 1st will be given a $0.99 dividend. The ex-dividend date of this dividend is Thursday, August 1st. This represents a $3.96 annualized dividend and a yield of 4.80%. ONEOK’s dividend payout ratio is presently 92.09%.

Analyst Upgrades and Downgrades

OKE has been the subject of a number of analyst reports. Stifel Nicolaus raised their price objective on ONEOK from $81.00 to $88.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Mizuho raised their price objective on ONEOK from $81.00 to $85.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. JPMorgan Chase & Co. increased their target price on ONEOK from $89.00 to $92.00 and gave the company an “overweight” rating in a research note on Wednesday, June 26th. Wells Fargo & Company increased their target price on ONEOK from $81.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Finally, Truist Financial increased their target price on ONEOK from $81.00 to $83.00 and gave the company a “hold” rating in a research note on Wednesday, July 31st. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $85.00.

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.