New York State Teachers Retirement System Lowers Stock Holdings in ONEOK, Inc. (NYSE:OKE)

New York State Teachers Retirement System lessened its stake in shares of ONEOK, Inc. (NYSE:OKE) by 0.0% in the 3rd quarter, Holdings Channel.com reports. The firm owned 468,570 shares of the utilities provider’s stock after selling 131 shares during the quarter. New York State Teachers Retirement System’s holdings in ONEOK were worth $42,701,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Quest Partners LLC purchased a new position in ONEOK during the second quarter worth about $28,000. Matrix Trust Co acquired a new position in ONEOK during the 3rd quarter worth approximately $29,000. Ridgewood Investments LLC purchased a new position in shares of ONEOK during the 2nd quarter worth approximately $31,000. Manchester Capital Management LLC lifted its holdings in shares of ONEOK by 66.4% in the 1st quarter. Manchester Capital Management LLC now owns 456 shares of the utilities provider’s stock valued at $37,000 after buying an additional 182 shares during the period. Finally, Values First Advisors Inc. purchased a new stake in shares of ONEOK in the third quarter valued at approximately $44,000. 69.13% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at ONEOK

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of the stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $92.01, for a total transaction of $310,901.79. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have commented on OKE. Citigroup raised their target price on ONEOK from $85.00 to $102.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Tudor Pickering upgraded shares of ONEOK to a “hold” rating in a research report on Thursday, July 18th. Scotiabank lifted their price target on shares of ONEOK from $88.00 to $102.00 and gave the company a “sector outperform” rating in a research report on Friday, August 30th. Truist Financial upped their price target on ONEOK from $83.00 to $99.00 and gave the stock a “hold” rating in a report on Wednesday. Finally, Wells Fargo & Company lifted their price objective on ONEOK from $91.00 to $100.00 and gave the stock an “overweight” rating in a report on Friday, August 30th. Eight investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $96.00.

ONEOK Stock Up 0.7 %

Shares of NYSE:OKE opened at $96.21 on Thursday. The company has a quick ratio of 0.41, a current ratio of 0.62 and a debt-to-equity ratio of 1.22. The company has a market capitalization of $56.19 billion, a P/E ratio of 20.96, a P/E/G ratio of 4.17 and a beta of 1.67. ONEOK, Inc. has a 52-week low of $63.33 and a 52-week high of $98.43. The stock’s fifty day simple moving average is $93.37 and its 200-day simple moving average is $85.64.

ONEOK (NYSE:OKE) last released its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). The firm had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $5.81 billion. ONEOK had a net margin of 13.41% and a return on equity of 15.54%. During the same quarter last year, the company posted $0.99 earnings per share. As a group, equities research analysts forecast that ONEOK, Inc. will post 5.1 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Friday, November 1st will be paid a $0.99 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a $3.96 annualized dividend and a yield of 4.12%. ONEOK’s payout ratio is currently 86.27%.

About ONEOK

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.