Teachers Retirement System of The State of Kentucky Cuts Stake in ONEOK, Inc. (NYSE:OKE)

Teachers Retirement System of The State of Kentucky decreased its holdings in ONEOK, Inc. (NYSE:OKEGet Rating) by 4.2% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 31,479 shares of the utilities provider’s stock after selling 1,370 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in ONEOK were worth $2,223,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of OKE. Cowa LLC raised its holdings in ONEOK by 9,775.0% in the first quarter. Cowa LLC now owns 5,324,428 shares of the utilities provider’s stock valued at $3,761,000 after buying an additional 5,270,510 shares during the period. Norges Bank purchased a new position in ONEOK in the fourth quarter valued at approximately $188,577,000. BlackRock Inc. raised its holdings in ONEOK by 6.1% in the fourth quarter. BlackRock Inc. now owns 45,529,862 shares of the utilities provider’s stock valued at $2,675,334,000 after buying an additional 2,614,981 shares during the period. State Street Corp raised its holdings in ONEOK by 4.8% in the first quarter. State Street Corp now owns 32,825,649 shares of the utilities provider’s stock valued at $2,318,476,000 after buying an additional 1,493,647 shares during the period. Finally, Vanguard Group Inc. raised its holdings in ONEOK by 2.1% in the first quarter. Vanguard Group Inc. now owns 51,774,594 shares of the utilities provider’s stock valued at $3,656,839,000 after buying an additional 1,043,147 shares during the period. Hedge funds and other institutional investors own 66.82% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on OKE shares. US Capital Advisors restated an “overweight” rating on shares of ONEOK in a report on Wednesday, June 1st. Mizuho lifted their price objective on shares of ONEOK from $64.00 to $65.00 and gave the company a “neutral” rating in a research note on Wednesday, August 10th. Barclays dropped their price objective on shares of ONEOK from $71.00 to $62.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 20th. Finally, Morgan Stanley dropped their price objective on shares of ONEOK from $81.00 to $74.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 20th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $68.42.

ONEOK Stock Down 2.0 %

OKE stock opened at $59.70 on Wednesday. ONEOK, Inc. has a twelve month low of $52.19 and a twelve month high of $75.07. The company has a current ratio of 0.83, a quick ratio of 0.62 and a debt-to-equity ratio of 2.11. The company has a market capitalization of $26.68 billion, a P/E ratio of 16.96, a PEG ratio of 2.15 and a beta of 1.68. The firm has a 50 day simple moving average of $60.90 and a 200-day simple moving average of $63.46.

ONEOK (NYSE:OKEGet Rating) last released its quarterly earnings results on Monday, August 8th. The utilities provider reported $0.92 earnings per share for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.02). The company had revenue of $6 billion for the quarter, compared to analyst estimates of $5.18 billion. ONEOK had a return on equity of 26.32% and a net margin of 7.37%. The firm’s quarterly revenue was up 76.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.77 EPS. On average, equities research analysts predict that ONEOK, Inc. will post 3.71 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 15th. Shareholders of record on Monday, August 1st were issued a $0.935 dividend. This represents a $3.74 dividend on an annualized basis and a yield of 6.26%. The ex-dividend date was Friday, July 29th. ONEOK’s dividend payout ratio is presently 106.25%.

About ONEOK

(Get Rating)

ONEOK, Inc, together with its subsidiaries, engages in gathering, processing, storage, and transportation of natural gas in the United States. It operates through Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments. The company owns natural gas gathering pipelines and processing plants in the Mid-Continent and Rocky Mountain regions.

Further Reading

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Institutional Ownership by Quarter for ONEOK (NYSE:OKE)

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