ONEOK, Inc. (NYSE:OKE) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas lowered its holdings in ONEOK, Inc. (NYSE:OKE) by 91.6% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,467 shares of the utilities provider’s stock after selling 59,623 shares during the period. Teacher Retirement System of Texas’ holdings in ONEOK were worth $549,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Kieckhefer Group LLC acquired a new stake in shares of ONEOK in the fourth quarter valued at $30,000. Canton Hathaway LLC purchased a new position in shares of ONEOK in the 4th quarter valued at about $40,000. J.Safra Asset Management Corp purchased a new stake in shares of ONEOK during the fourth quarter worth approximately $48,000. VSM Wealth Advisory LLC acquired a new stake in ONEOK in the fourth quarter valued at approximately $50,000. Finally, OFI Invest Asset Management acquired a new position in shares of ONEOK during the fourth quarter worth $51,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Trading Down 0.2 %

NYSE:OKE opened at $98.47 on Monday. ONEOK, Inc. has a 52-week low of $76.23 and a 52-week high of $118.07. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. The stock has a fifty day simple moving average of $98.32 and a 200-day simple moving average of $100.24. The company has a market capitalization of $61.48 billion, a PE ratio of 20.60, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70.

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

ONEOK Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were given a dividend of $1.03 per share. This is an increase from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date was Monday, February 3rd. This represents a $4.12 annualized dividend and a yield of 4.18%. ONEOK’s dividend payout ratio (DPR) is presently 79.69%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Scotiabank lowered their price target on ONEOK from $109.00 to $102.00 and set a “sector outperform” rating for the company in a report on Thursday, March 6th. Barclays dropped their price objective on shares of ONEOK from $105.00 to $101.00 and set an “equal weight” rating on the stock in a research note on Friday, March 7th. Wells Fargo & Company decreased their target price on shares of ONEOK from $107.00 to $102.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 26th. US Capital Advisors upgraded ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, February 3rd. Finally, Morgan Stanley increased their price objective on ONEOK from $111.00 to $133.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 25th. Seven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $105.00.

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.