Comerica Bank Sells 5,529 Shares of ONEOK, Inc. (NYSE:OKE)

Comerica Bank decreased its position in ONEOK, Inc. (NYSE:OKE - Free Report) by 3.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 141,287 shares of the utilities provider's stock after selling 5,529 shares during the period. Comerica Bank's holdings in ONEOK were worth $14,185,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of OKE. FNY Investment Advisers LLC grew its holdings in shares of ONEOK by 14,279.1% during the fourth quarter. FNY Investment Advisers LLC now owns 22,000 shares of the utilities provider's stock worth $2,208,000 after buying an additional 21,847 shares in the last quarter. Kingswood Wealth Advisors LLC lifted its holdings in shares of ONEOK by 57.9% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 14,506 shares of the utilities provider's stock worth $1,456,000 after acquiring an additional 5,321 shares during the period. Simon Quick Advisors LLC acquired a new position in shares of ONEOK in the 4th quarter valued at $251,000. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of ONEOK by 9.7% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,544,208 shares of the utilities provider's stock worth $155,038,000 after buying an additional 136,071 shares during the last quarter. Finally, Contravisory Investment Management Inc. purchased a new position in shares of ONEOK in the 4th quarter worth $9,483,000. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

ONEOK Stock Up 1.0 %

ONEOK stock traded up $0.82 during trading hours on Wednesday, hitting $80.11. The company had a trading volume of 712,439 shares, compared to its average volume of 3,214,198. The firm's fifty day moving average is $90.02 and its 200-day moving average is $98.38. The firm has a market capitalization of $50.04 billion, a P/E ratio of 16.74, a price-to-earnings-growth ratio of 3.77 and a beta of 1.01. ONEOK, Inc. has a fifty-two week low of $75.48 and a fifty-two week high of $118.07. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59.

ONEOK (NYSE:OKE - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The utilities provider reported $1.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.28 by ($0.24). ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The firm had revenue of $6.49 billion for the quarter, compared to analysts' expectations of $8.23 billion. During the same quarter in the prior year, the business posted $1.09 earnings per share. On average, research analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Monday, May 5th will be given a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 5.14%. The ex-dividend date of this dividend is Monday, May 5th. ONEOK's dividend payout ratio is 80.47%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Scotiabank reduced their price objective on ONEOK from $101.00 to $100.00 and set a "sector outperform" rating on the stock in a research note on Tuesday, April 29th. Morgan Stanley raised their target price on ONEOK from $111.00 to $133.00 and gave the company an "overweight" rating in a research note on Tuesday, March 25th. Citigroup reduced their price target on shares of ONEOK from $110.00 to $102.00 and set a "buy" rating on the stock in a research report on Tuesday. Wells Fargo & Company decreased their target price on ONEOK from $102.00 to $93.00 and set an "equal weight" rating for the company in a research report on Thursday, May 1st. Finally, Stifel Nicolaus lowered their target price on shares of ONEOK from $110.00 to $107.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Seven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $105.00.

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.