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

First Hawaiian Bank reduced its position in ONEOK, Inc. (NYSE:OKE) by 19.9% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 9,001 shares of the utilities provider’s stock after selling 2,239 shares during the period. First Hawaiian Bank’s holdings in ONEOK were worth $722,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of OKE. Vanguard Group Inc. grew its holdings in ONEOK by 10.3% in the third quarter. Vanguard Group Inc. now owns 59,237,038 shares of the utilities provider’s stock valued at $3,757,405,000 after purchasing an additional 5,525,010 shares during the period. Deutsche Bank AG raised its stake in shares of ONEOK by 37.7% in the 3rd quarter. Deutsche Bank AG now owns 13,292,341 shares of the utilities provider’s stock valued at $843,133,000 after acquiring an additional 3,636,660 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of ONEOK by 21.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 12,408,725 shares of the utilities provider’s stock valued at $871,341,000 after acquiring an additional 2,153,295 shares in the last quarter. Morgan Stanley boosted its position in ONEOK by 20.3% during the 3rd quarter. Morgan Stanley now owns 8,660,013 shares of the utilities provider’s stock worth $549,305,000 after purchasing an additional 1,458,392 shares during the period. Finally, Northern Trust Corp raised its position in ONEOK by 1.5% in the fourth quarter. Northern Trust Corp now owns 5,754,127 shares of the utilities provider’s stock valued at $404,055,000 after purchasing an additional 85,736 shares during the period. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. StockNews.com upgraded ONEOK from a “sell” rating to a “hold” rating in a research note on Friday, May 17th. Stifel Nicolaus lifted their price objective on shares of ONEOK from $81.00 to $88.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Mizuho raised their price target on shares of ONEOK from $75.00 to $81.00 and gave the company a “neutral” rating in a report on Wednesday, March 20th. Barclays boosted their price objective on shares of ONEOK from $73.00 to $80.00 and gave the stock an “equal weight” rating in a report on Thursday, March 7th. Finally, US Capital Advisors lowered ONEOK from an “overweight” rating to a “hold” rating in a research report on Wednesday, March 20th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, ONEOK has a consensus rating of “Hold” and an average target price of $84.25.

ONEOK Price Performance

Shares of OKE opened at $79.88 on Friday. The company has a current ratio of 0.70, a quick ratio of 0.48 and a debt-to-equity ratio of 1.24. The firm has a market cap of $46.62 billion, a price-to-earnings ratio of 18.58, a PEG ratio of 4.35 and a beta of 1.65. ONEOK, Inc. has a 52 week low of $57.37 and a 52 week high of $83.31. The stock has a 50 day moving average of $79.86 and a 200-day moving average of $75.30.

ONEOK (NYSE:OKE) last released its earnings results on Tuesday, April 30th. The utilities provider reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.03. ONEOK had a net margin of 12.54% and a return on equity of 15.94%. The firm had revenue of $4.78 billion during the quarter, compared to analyst estimates of $5.84 billion. During the same quarter in the previous year, the firm earned $2.34 earnings per share. As a group, analysts forecast that ONEOK, Inc. will post 4.94 EPS for the current year.

ONEOK Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st were issued a $0.99 dividend. The ex-dividend date was Tuesday, April 30th. This represents a $3.96 dividend on an annualized basis and a yield of 4.96%. ONEOK’s dividend payout ratio is currently 92.09%.

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.