Sanibel Captiva Trust Company Inc. Purchases 1,778 Shares of ONEOK, Inc. (NYSE:OKE)

Sanibel Captiva Trust Company Inc. lifted its position in shares of ONEOK, Inc. (NYSE:OKE) by 33.0% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 7,166 shares of the utilities provider’s stock after acquiring an additional 1,778 shares during the quarter. Sanibel Captiva Trust Company Inc.’s holdings in ONEOK were worth $584,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Dakota Wealth Management grew its stake in shares of ONEOK by 3.7% during the 2nd quarter. Dakota Wealth Management now owns 12,923 shares of the utilities provider’s stock worth $1,054,000 after acquiring an additional 457 shares during the period. Garrett Wealth Advisory Group LLC bought a new position in ONEOK in the 2nd quarter worth about $707,000. Meridian Financial Partners LLC bought a new position in ONEOK in the 2nd quarter worth about $376,000. Davis Investment Partners LLC boosted its stake in ONEOK by 16.6% in the 2nd quarter. Davis Investment Partners LLC now owns 11,953 shares of the utilities provider’s stock worth $1,012,000 after purchasing an additional 1,704 shares during the period. Finally, Gradient Investments LLC boosted its stake in ONEOK by 267.2% in the 2nd quarter. Gradient Investments LLC now owns 1,704 shares of the utilities provider’s stock worth $139,000 after purchasing an additional 1,240 shares during the period. Institutional investors own 69.13% of the company’s stock.

ONEOK Stock Down 2.0 %

Shares of NYSE OKE traded down $1.81 during mid-day trading on Tuesday, hitting $86.59. 2,214,164 shares of the stock traded hands, compared to its average volume of 2,778,678. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.41 and a current ratio of 0.62. ONEOK, Inc. has a 52 week low of $60.58 and a 52 week high of $88.68. The company has a market cap of $50.57 billion, a price-to-earnings ratio of 20.56, a PEG ratio of 4.36 and a beta of 1.65. The stock has a fifty day moving average price of $82.56 and a 200-day moving average price of $79.31.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Monday, August 5th. The utilities provider reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.12. ONEOK had a return on equity of 15.54% and a net margin of 13.41%. The company had revenue of $4.89 billion for the quarter, compared to analyst estimates of $5.52 billion. During the same period in the previous year, the company posted $1.04 earnings per share. Research analysts anticipate that ONEOK, Inc. will post 4.98 EPS for the current year.

ONEOK Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Thursday, August 1st were issued a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 4.57%. The ex-dividend date of this dividend was Thursday, August 1st. ONEOK’s dividend payout ratio (DPR) is 92.09%.

Wall Street Analyst Weigh In

Several research analysts have commented on OKE shares. Tudor Pickering upgraded ONEOK to a “hold” rating in a research note on Thursday, July 18th. StockNews.com upgraded ONEOK from a “sell” rating to a “hold” rating in a research note on Friday, May 17th. JPMorgan Chase & Co. raised their target price on ONEOK from $89.00 to $92.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 26th. Wells Fargo & Company raised their price target on ONEOK from $85.00 to $91.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. Finally, Morgan Stanley raised their price target on ONEOK from $90.00 to $93.00 and gave the company an “equal weight” rating in a report on Monday, June 10th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, ONEOK presently has a consensus rating of “Hold” and a consensus target price of $85.50.

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.