Kentucky Retirement Systems Insurance Trust Fund Sells 1,532 Shares of ONEOK, Inc. (NYSE:OKE)

Kentucky Retirement Systems Insurance Trust Fund lessened its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 8.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,293 shares of the utilities provider’s stock after selling 1,532 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in ONEOK were worth $1,576,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quest Partners LLC acquired a new stake in shares of ONEOK during the second quarter worth $28,000. Matrix Trust Co purchased a new stake in shares of ONEOK in the third quarter worth about $29,000. Ridgewood Investments LLC acquired a new stake in shares of ONEOK during the 2nd quarter worth approximately $31,000. Access Investment Management LLC acquired a new stake in ONEOK during the third quarter valued at $37,000. Finally, Values First Advisors Inc. purchased a new position in shares of ONEOK in the 3rd quarter valued at about $44,000. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

ONEOK Stock Up 1.8 %

Shares of NYSE OKE opened at $109.81 on Friday. The business has a 50-day moving average of $96.54 and a two-hundred day moving average of $87.64. The company has a market capitalization of $64.15 billion, a price-to-earnings ratio of 22.97, a price-to-earnings-growth ratio of 5.48 and a beta of 1.66. ONEOK, Inc. has a 1 year low of $64.68 and a 1 year high of $110.05. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59.

ONEOK (NYSE:OKE) last posted its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.05). The business had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $5.81 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. During the same quarter in the previous year, the firm earned $0.99 EPS. On average, analysts forecast that ONEOK, Inc. will post 5.15 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were given a $0.99 dividend. The ex-dividend date was Friday, November 1st. This represents a $3.96 dividend on an annualized basis and a yield of 3.61%. ONEOK’s dividend payout ratio (DPR) is presently 82.85%.

Analyst Ratings Changes

Several equities analysts have issued reports on OKE shares. Citigroup increased their price objective on shares of ONEOK from $85.00 to $102.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Mizuho upgraded ONEOK to a “hold” rating in a report on Thursday, November 7th. UBS Group lifted their price target on shares of ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a research report on Friday. Wells Fargo & Company upped their target price on shares of ONEOK from $100.00 to $107.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Finally, Morgan Stanley upgraded ONEOK from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $103.00 to $111.00 in a research report on Monday, September 16th. Eight analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $100.38.

Insider Activity

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of the firm’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $92.01, for a total transaction of $310,901.79. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.20% of the company’s stock.

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.