Teacher Retirement System of Texas Sells 23,630 Shares of ONEOK, Inc. (NYSE:OKE)

Teacher Retirement System of Texas reduced its position in ONEOK, Inc. (NYSE:OKEFree Report) by 35.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 43,175 shares of the utilities provider’s stock after selling 23,630 shares during the period. Teacher Retirement System of Texas’ holdings in ONEOK were worth $3,032,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of OKE. Vanguard Group Inc. increased its holdings in shares of ONEOK by 10.3% in the third quarter. Vanguard Group Inc. now owns 59,237,038 shares of the utilities provider’s stock valued at $3,757,405,000 after purchasing an additional 5,525,010 shares during the last quarter. Deutsche Bank AG grew its position in ONEOK by 37.7% during the third quarter. Deutsche Bank AG now owns 13,292,341 shares of the utilities provider’s stock worth $843,133,000 after buying an additional 3,636,660 shares in the last quarter. Blackstone Inc. increased its position in shares of ONEOK by 3,478.3% in the third quarter. Blackstone Inc. now owns 3,578,316 shares of the utilities provider’s stock worth $226,973,000 after purchasing an additional 3,478,316 shares during the period. Invesco Ltd. raised its position in shares of ONEOK by 65.9% in the 3rd quarter. Invesco Ltd. now owns 8,132,301 shares of the utilities provider’s stock valued at $515,832,000 after buying an additional 3,229,046 shares in the last quarter. Finally, International Assets Investment Management LLC raised its position in ONEOK by 5,247.1% during the fourth quarter. International Assets Investment Management LLC now owns 2,463,929 shares of the utilities provider’s stock valued at $173,017,000 after purchasing an additional 2,417,849 shares in the last quarter. Institutional investors own 69.13% of the company’s stock.

Insider Buying and Selling at ONEOK

In other ONEOK news, Director Wayne Thomas Smith acquired 2,700 shares of ONEOK stock in a transaction dated Friday, March 1st. The stock was purchased at an average cost of $75.25 per share, for a total transaction of $203,175.00. Following the completion of the acquisition, the director now directly owns 2,700 shares of the company’s stock, valued at $203,175. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.20% of the stock is currently owned by company insiders.

ONEOK Stock Performance

NYSE:OKE opened at $81.68 on Wednesday. The firm has a market capitalization of $47.67 billion, a P/E ratio of 19.00, a P/E/G ratio of 4.32 and a beta of 1.64. ONEOK, Inc. has a twelve month low of $55.91 and a twelve month high of $81.81. The company has a fifty day moving average of $78.89 and a 200-day moving average of $72.56. 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:OKEGet Free Report) last released its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.03. ONEOK had a net margin of 12.54% and a return on equity of 15.94%. The company had revenue of $4.78 billion for the quarter, compared to analysts’ expectations of $5.84 billion. During the same quarter in the prior year, the firm earned $2.34 EPS. As a group, sell-side analysts anticipate that ONEOK, Inc. will post 4.94 EPS for the current year.

ONEOK declared that its board has initiated a share buyback program on Wednesday, January 17th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the utilities provider to repurchase up to 4.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

ONEOK Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be issued a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 4.85%. The ex-dividend date of this dividend is Tuesday, April 30th. ONEOK’s dividend payout ratio is currently 92.09%.

Analyst Upgrades and Downgrades

OKE has been the subject of several research reports. Wells Fargo & Company increased their price objective on shares of ONEOK from $81.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Barclays upped their price target on shares of ONEOK from $73.00 to $80.00 and gave the company an “equal weight” rating in a research report on Thursday, March 7th. Mizuho boosted their price objective on shares of ONEOK from $75.00 to $81.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 20th. Stifel Nicolaus raised their target price on ONEOK from $81.00 to $88.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Finally, Raymond James upped their price target on ONEOK from $80.00 to $85.00 and gave the company an “outperform” rating in a research report on Friday, January 19th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $83.58.

Read Our Latest Stock Analysis on OKE

ONEOK Profile

(Free Report)

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.

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Institutional Ownership by Quarter for ONEOK (NYSE:OKE)

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