Kentucky Retirement Systems Insurance Trust Fund Sells 1,529 Shares of ONEOK, Inc. (NYSE:OKE)

Kentucky Retirement Systems Insurance Trust Fund decreased its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 7.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,225 shares of the utilities provider’s stock after selling 1,529 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in ONEOK were worth $1,541,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Norges Bank acquired a new position in ONEOK during the 4th quarter worth approximately $297,948,000. International Assets Investment Management LLC lifted its stake in shares of ONEOK by 5,247.1% in the 4th quarter. International Assets Investment Management LLC now owns 2,463,929 shares of the utilities provider’s stock valued at $173,017,000 after acquiring an additional 2,417,849 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of ONEOK by 21.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 12,408,725 shares of the utilities provider’s stock valued at $871,341,000 after acquiring an additional 2,153,295 shares in the last quarter. First Eagle Investment Management LLC grew its position in ONEOK by 77.9% during the 4th quarter. First Eagle Investment Management LLC now owns 3,086,559 shares of the utilities provider’s stock worth $216,738,000 after acquiring an additional 1,351,626 shares during the last quarter. Finally, Wellington Management Group LLP increased its holdings in ONEOK by 2,643.5% in the 4th quarter. Wellington Management Group LLP now owns 1,170,739 shares of the utilities provider’s stock worth $82,209,000 after purchasing an additional 1,128,066 shares in the last quarter. Institutional investors own 69.13% of the company’s stock.

ONEOK Stock Up 0.8 %

NYSE:OKE traded up $0.62 during trading hours on Friday, reaching $82.02. The company had a trading volume of 1,826,761 shares, compared to its average volume of 2,137,539. The business’s 50-day simple moving average is $81.39 and its two-hundred day simple moving average is $77.65. ONEOK, Inc. has a twelve month low of $60.58 and a twelve month high of $86.20. The firm has a market cap of $47.87 billion, a price-to-earnings ratio of 19.07, a P/E/G ratio of 4.34 and a beta of 1.65. The company has a quick ratio of 0.48, a current ratio of 0.70 and a debt-to-equity ratio of 1.24.

ONEOK (NYSE:OKE) last issued its earnings results on Tuesday, April 30th. The utilities provider reported $1.09 EPS for the quarter, beating the consensus estimate of $1.06 by $0.03. ONEOK had a return on equity of 15.94% and a net margin of 12.54%. The company had revenue of $4.78 billion during the quarter, compared to the consensus estimate of $5.84 billion. During the same period last year, the business posted $2.34 EPS. On average, equities analysts expect that ONEOK, Inc. will post 5.06 earnings per share for the current year.

ONEOK Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 14th. Investors of record on Thursday, August 1st will be issued a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 4.83%. The ex-dividend date is Thursday, August 1st. ONEOK’s dividend payout ratio is currently 92.09%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on OKE shares. Wells Fargo & Company boosted their price target on ONEOK from $81.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Tudor Pickering raised shares of ONEOK to a “hold” rating in a report on Thursday, July 18th. Stifel Nicolaus upped their price target on shares of ONEOK from $81.00 to $88.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Morgan Stanley lifted their price target 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. Finally, JPMorgan Chase & Co. increased their price objective on ONEOK from $89.00 to $92.00 and gave the company an “overweight” rating in a report on Wednesday, June 26th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, ONEOK has a consensus rating of “Hold” and a consensus target price of $84.83.

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.