ONEOK, Inc. (NYSE:OKE) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky lowered its position in shares of ONEOK, Inc. (NYSE:OKE) by 7.3% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 290,414 shares of the utilities provider’s stock after selling 22,800 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in ONEOK were worth $23,283,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Rise Advisors LLC purchased a new position in shares of ONEOK during the 1st quarter valued at about $25,000. LifeSteps Financial Inc. purchased a new position in shares of ONEOK during the 1st quarter valued at about $26,000. HHM Wealth Advisors LLC purchased a new position in shares of ONEOK during the 4th quarter valued at about $32,000. American National Bank purchased a new position in shares of ONEOK in the 1st quarter valued at about $32,000. Finally, Security National Bank purchased a new position in shares of ONEOK in the 4th quarter valued at about $35,000. Institutional investors and hedge funds own 69.13% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on OKE shares. StockNews.com upgraded ONEOK from a “sell” rating to a “hold” rating in a research note on Friday, May 17th. Wells Fargo & Company lifted their price target on ONEOK from $81.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Mizuho lifted their price target on ONEOK from $81.00 to $85.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. JPMorgan Chase & Co. lifted their price target on ONEOK from $89.00 to $92.00 and gave the company an “overweight” rating in a research note on Wednesday, June 26th. Finally, Tudor Pickering upgraded ONEOK to a “hold” rating in a research note on Thursday, July 18th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, ONEOK currently has an average rating of “Hold” and an average price target of $85.00.

ONEOK Price Performance

Shares of ONEOK stock traded down $1.89 on Friday, hitting $80.17. 3,390,539 shares of the company were exchanged, compared to its average volume of 2,238,059. The stock has a market capitalization of $46.79 billion, a price-to-earnings ratio of 18.64, a price-to-earnings-growth ratio of 4.37 and a beta of 1.65. The company has a 50-day moving average price of $81.43 and a 200 day moving average price of $78.00. ONEOK, Inc. has a 1-year low of $60.58 and a 1-year high of $86.20. 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 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.03. The business had revenue of $4.78 billion for the quarter, compared to analysts’ expectations of $5.84 billion. ONEOK had a return on equity of 15.94% and a net margin of 12.54%. During the same period in the previous year, the firm posted $2.34 EPS. As a group, sell-side analysts predict that ONEOK, Inc. will post 5.02 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 14th. Stockholders of record on Thursday, August 1st will be issued a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a dividend yield of 4.94%. The ex-dividend date of this dividend is Thursday, August 1st. ONEOK’s dividend payout ratio is currently 92.09%.

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.