ONEOK, Inc. (NYSE:OKE) Shares Sold by Comerica Bank

Comerica Bank lessened its holdings in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 3.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and 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 reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Kieckhefer Group LLC acquired a new position in ONEOK during the 4th quarter worth approximately $30,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in ONEOK during the fourth quarter worth $39,000. Canton Hathaway LLC purchased a new position in shares of ONEOK during the 4th quarter worth approximately $40,000. J.Safra Asset Management Corp purchased a new position in ONEOK in the 4th quarter valued at about $48,000. Finally, VSM Wealth Advisory LLC purchased a new stake in ONEOK in the 4th quarter valued at about $50,000. 69.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on OKE shares. Wells Fargo & Company lowered their target price on ONEOK from $102.00 to $93.00 and set an "equal weight" rating for the company in a research note on Thursday. Morgan Stanley upped their target price on ONEOK from $111.00 to $133.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 25th. Scotiabank reduced their target price on ONEOK from $101.00 to $100.00 and set a "sector outperform" rating for the company in a report on Tuesday, April 29th. US Capital Advisors raised ONEOK from a "moderate buy" rating to a "strong-buy" rating in a research note on Monday, February 3rd. Finally, Citigroup started coverage on shares of ONEOK in a research note on Friday, February 28th. They issued a "buy" rating and a $110.00 price objective for the company. Seven research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $105.62.

ONEOK Stock Performance

NYSE OKE traded up $1.84 during trading hours on Friday, hitting $82.77. The company's stock had a trading volume of 5,505,793 shares, compared to its average volume of 3,216,069. 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, Inc. has a 12 month low of $75.48 and a 12 month high of $118.07. The company has a market cap of $51.70 billion, a P/E ratio of 17.32, a price-to-earnings-growth ratio of 3.77 and a beta of 1.20. The company's 50 day simple moving average is $90.67 and its two-hundred day simple moving average is $98.63.

ONEOK (NYSE:OKE - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The utilities provider reported $1.04 EPS for the quarter, missing the consensus estimate of $1.28 by ($0.24). The company had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $8.23 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. During the same period last year, the company earned $1.09 EPS. As a group, sell-side analysts expect that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Monday, May 5th will be given a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 4.98%. The ex-dividend date of this dividend is Monday, May 5th. ONEOK's dividend payout ratio is currently 79.69%.

ONEOK 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.