Texas Permanent School Fund Corp Grows Holdings in ONEOK, Inc. (NYSE:OKE)

Texas Permanent School Fund Corp increased its holdings in ONEOK, Inc. (NYSE:OKE) by 0.1% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 120,398 shares of the utilities provider’s stock after purchasing an additional 139 shares during the period. Texas Permanent School Fund Corp’s holdings in ONEOK were worth $9,652,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Venturi Wealth Management LLC boosted its holdings in shares of ONEOK by 5.3% in the first quarter. Venturi Wealth Management LLC now owns 2,809 shares of the utilities provider’s stock worth $225,000 after buying an additional 142 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its stake in ONEOK by 4.7% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 3,199 shares of the utilities provider’s stock worth $256,000 after acquiring an additional 144 shares during the period. Presima Securities ULC raised its stake in ONEOK by 1.7% during the 4th quarter. Presima Securities ULC now owns 9,100 shares of the utilities provider’s stock worth $639,000 after acquiring an additional 150 shares during the period. FourThought Financial Partners LLC raised its stake in ONEOK by 3.8% during the 4th quarter. FourThought Financial Partners LLC now owns 4,386 shares of the utilities provider’s stock worth $308,000 after acquiring an additional 161 shares during the period. Finally, Valeo Financial Advisors LLC raised its stake in ONEOK by 2.6% during the 1st quarter. Valeo Financial Advisors LLC now owns 6,867 shares of the utilities provider’s stock worth $556,000 after acquiring an additional 171 shares during the period. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Price Performance

OKE traded up $0.57 during trading hours on Thursday, hitting $82.89. The company’s stock had a trading volume of 1,460,404 shares, compared to its average volume of 2,774,335. The business’s 50-day moving average price is $80.50 and its 200-day moving average price is $76.58. ONEOK, Inc. has a 12 month low of $60.58 and a 12 month high of $83.34. The stock has a market cap of $48.38 billion, a price-to-earnings ratio of 19.25, a P/E/G ratio of 4.39 and a beta of 1.65. The company has a current ratio of 0.70, a quick ratio of 0.48 and a debt-to-equity ratio of 1.24.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $1.09 EPS for the quarter, topping the consensus estimate of $1.06 by $0.03. The company had revenue of $4.78 billion during the quarter, compared to analyst estimates of $5.84 billion. ONEOK had a net margin of 12.54% and a return on equity of 15.94%. During the same period in the previous year, the firm earned $2.34 earnings per share. Sell-side analysts expect that ONEOK, Inc. will post 4.95 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st were paid a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 4.78%. The ex-dividend date of this dividend was Tuesday, April 30th. ONEOK’s payout ratio is 92.09%.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Truist Financial raised their target price on shares of ONEOK from $71.00 to $81.00 and gave the stock a “hold” rating in a research note on Thursday, March 21st. US Capital Advisors cut shares of ONEOK from an “overweight” rating to a “hold” rating in a research note on Wednesday, March 20th. Stifel Nicolaus raised their target price on shares of ONEOK from $81.00 to $88.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Wells Fargo & Company lifted their price objective on shares of ONEOK from $81.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. Finally, Morgan Stanley lifted their price objective on shares of ONEOK from $90.00 to $93.00 and gave the company an “equal weight” rating in a research report on Monday, June 10th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $84.50.

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.