First Hawaiian Bank Increases Position in ONEOK, Inc. (NYSE:OKE)

First Hawaiian Bank boosted its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 32.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,939 shares of the utilities provider’s stock after acquiring an additional 2,938 shares during the period. First Hawaiian Bank’s holdings in ONEOK were worth $974,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Rise Advisors LLC purchased a new position in shares of ONEOK in the first quarter valued at $25,000. LifeSteps Financial Inc. acquired a new stake in ONEOK in the first quarter valued at $26,000. American National Bank acquired a new stake in ONEOK in the first quarter valued at $32,000. HHM Wealth Advisors LLC acquired a new stake in ONEOK in the fourth quarter valued at $32,000. Finally, Manchester Capital Management LLC raised its holdings in ONEOK by 66.4% in the first quarter. Manchester Capital Management LLC now owns 456 shares of the utilities provider’s stock valued at $37,000 after acquiring an additional 182 shares in the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Price Performance

OKE traded up $3.92 on Tuesday, reaching $82.54. The company had a trading volume of 2,311,321 shares, compared to its average volume of 2,753,592. The company has a fifty day moving average of $81.38 and a 200-day moving average of $78.17. The company has a market capitalization of $48.17 billion, a P/E ratio of 18.95, a PEG ratio of 4.37 and a beta of 1.65. The company has a current ratio of 0.70, a quick ratio of 0.48 and a debt-to-equity ratio of 1.24. ONEOK, Inc. has a one year low of $60.58 and a one year high of $86.20.

ONEOK (NYSE:OKE) last announced its earnings results on Monday, August 5th. The utilities provider reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.12. The firm had revenue of $4.89 billion during the quarter, compared to analyst estimates of $5.52 billion. ONEOK had a net margin of 12.54% and a return on equity of 15.94%. During the same quarter in the prior year, the firm posted $1.04 EPS. As a group, equities research analysts anticipate that ONEOK, Inc. will post 5.02 earnings per share for the current year.

ONEOK Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 14th. Stockholders of record on Thursday, August 1st will be given a dividend of $0.99 per share. The ex-dividend date is Thursday, August 1st. This represents a $3.96 annualized dividend and a dividend yield of 4.80%. ONEOK’s dividend payout ratio (DPR) is 92.09%.

Analysts Set New Price Targets

OKE has been the topic of a number of research reports. Mizuho increased their target price on shares of ONEOK from $81.00 to $85.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Morgan Stanley increased their target price on shares of ONEOK from $90.00 to $93.00 and gave the stock an “equal weight” rating in a report on Monday, June 10th. Tudor Pickering raised shares of ONEOK to a “hold” rating in a report on Thursday, July 18th. Wells Fargo & Company increased their target price on shares of ONEOK from $81.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Finally, StockNews.com raised shares of ONEOK from a “sell” rating to a “hold” rating in a report on Friday, May 17th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, ONEOK has an average rating of “Hold” and an average price target of $85.00.

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.