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

Comerica Bank cut its stake in shares of ONEOK, Inc. (NYSE:OKE) by 3.8% during 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 as of its most recent SEC filing.

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

ONEOK Stock Performance

ONEOK stock opened at $80.91 on Friday. The firm’s 50 day simple moving average is $90.93 and its 200 day simple moving average is $98.68. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. ONEOK, Inc. has a 1-year low of $75.48 and a 1-year high of $118.07. The firm has a market capitalization of $50.54 billion, a PE ratio of 16.93, a price-to-earnings-growth ratio of 3.77 and a beta of 1.20.

ONEOK (NYSE:OKE) last posted 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). The business 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 in the prior year, the business posted $1.09 EPS. As a group, analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Monday, May 5th will be given a dividend of $1.03 per share. The ex-dividend date of this dividend is Monday, May 5th. This represents a $4.12 annualized dividend and a yield of 5.09%. ONEOK’s payout ratio is presently 79.69%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. US Capital Advisors upgraded shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, February 3rd. Stifel Nicolaus reduced their target price on shares of ONEOK from $110.00 to $107.00 and set a “buy” rating for the company in a research report on Thursday. Morgan Stanley lifted their price target on shares of ONEOK from $111.00 to $133.00 and gave the stock an “overweight” rating in a report on Tuesday, March 25th. Citigroup assumed coverage on ONEOK in a report on Friday, February 28th. They set a “buy” rating and a $110.00 price objective for the company. Finally, Wells Fargo & Company lowered their target price on ONEOK from $102.00 to $93.00 and set an “equal weight” rating on the stock in a research note on Thursday. Seven analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $105.62.

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.