Sanibel Captiva Trust Company Inc. Sells 1,544 Shares of ONEOK, Inc. (NYSE:OKE)

Sanibel Captiva Trust Company Inc. lessened its position in ONEOK, Inc. (NYSE:OKE) by 18.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,704 shares of the utilities provider’s stock after selling 1,544 shares during the quarter. Sanibel Captiva Trust Company Inc.’s holdings in ONEOK were worth $665,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Greenline Partners LLC bought a new position in ONEOK in the 4th quarter valued at $32,000. Vermillion Wealth Management Inc. bought a new position in ONEOK in the 4th quarter valued at $37,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in ONEOK in the 4th quarter valued at $39,000. Canton Hathaway LLC bought a new position in shares of ONEOK during the 4th quarter worth $40,000. Finally, J.Safra Asset Management Corp bought a new position in shares of ONEOK during the 4th quarter worth $48,000. Institutional investors own 69.13% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Scotiabank dropped their price target on ONEOK from $96.00 to $93.00 and set a “sector outperform” rating on the stock in a research report on Thursday, June 5th. Stifel Nicolaus dropped their price target on ONEOK from $110.00 to $107.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. Wells Fargo & Company dropped their price objective on ONEOK from $102.00 to $93.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 1st. Morgan Stanley raised their price objective on ONEOK from $111.00 to $133.00 and gave the company an “overweight” rating in a research report on Tuesday, March 25th. Finally, Citigroup dropped their price objective on ONEOK from $110.00 to $102.00 and set a “buy” rating on the stock in a research report on Tuesday, May 6th. Six equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $103.69.

ONEOK Trading Up 1.5%

ONEOK stock opened at $82.95 on Thursday. The stock has a 50-day moving average of $82.93 and a two-hundred day moving average of $94.68. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. ONEOK, Inc. has a one year low of $75.48 and a one year high of $118.07. The stock has a market cap of $52.22 billion, a PE ratio of 17.35, a price-to-earnings-growth ratio of 3.77 and a beta of 0.94.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Tuesday, April 29th. The utilities provider reported $1.04 EPS for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.24). ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The business had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $8.23 billion. During the same quarter last year, the business posted $1.09 earnings per share. On average, research analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 5th were paid a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 4.97%. The ex-dividend date of this dividend was Monday, May 5th. ONEOK’s payout ratio is 80.47%.

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.