Arizona State Retirement System Buys 2,431 Shares of ONEOK, Inc. (NYSE:OKE)

Arizona State Retirement System increased its stake in shares of ONEOK, Inc. (NYSE:OKE) by 1.5% during the 4th quarter, HoldingsChannel.com reports. The fund owned 169,645 shares of the utilities provider’s stock after acquiring an additional 2,431 shares during the period. Arizona State Retirement System’s holdings in ONEOK were worth $17,032,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of OKE. Kieckhefer Group LLC bought a new stake in ONEOK during the fourth quarter worth about $30,000. Access Investment Management LLC bought a new stake in ONEOK during the third quarter worth about $37,000. Canton Hathaway LLC bought a new stake in ONEOK during the fourth quarter worth about $40,000. J.Safra Asset Management Corp bought a new stake in ONEOK during the fourth quarter worth about $48,000. Finally, Versant Capital Management Inc raised its holdings in ONEOK by 98.1% during the fourth quarter. Versant Capital Management Inc now owns 525 shares of the utilities provider’s stock worth $53,000 after acquiring an additional 260 shares in the last quarter. Institutional investors own 69.13% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Mizuho upgraded ONEOK to a “hold” rating in a research note on Thursday, November 7th. Scotiabank assumed coverage on ONEOK in a research note on Friday, January 10th. They issued a “sector outperform” rating and a $109.00 price objective on the stock. Truist Financial upped their price objective on ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research note on Tuesday, December 3rd. UBS Group upped their price objective on ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Finally, Wolfe Research upgraded ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price objective on the stock in a research note on Monday, February 10th. Seven investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $104.15.

ONEOK Price Performance

Shares of NYSE OKE opened at $91.95 on Thursday. The firm has a market cap of $57.40 billion, a P/E ratio of 19.24, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. ONEOK, Inc. has a 1-year low of $76.23 and a 1-year high of $118.07. The business’s 50 day moving average is $100.45 and its 200-day moving average is $99.34.

ONEOK (NYSE:OKE) last announced its earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.11. The company had revenue of $7 billion for the quarter, compared to analyst estimates of $6.18 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. Equities research analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were given a dividend of $1.03 per share. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $4.12 dividend on an annualized basis and a yield of 4.48%. This is an increase from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio is currently 79.69%.

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.