Teachers Retirement System of The State of Kentucky Cuts Stock Position in ONEOK, Inc. (NYSE:OKE)

Teachers Retirement System of The State of Kentucky reduced its stake in ONEOK, Inc. (NYSE:OKE) by 0.6% during the 3rd quarter, Holdings Channel reports. The fund owned 381,240 shares of the utilities provider’s stock after selling 2,174 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in ONEOK were worth $34,742,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. HM Payson & Co. grew its holdings in ONEOK by 6.3% in the 3rd quarter. HM Payson & Co. now owns 1,764 shares of the utilities provider’s stock valued at $161,000 after buying an additional 105 shares during the period. Claro Advisors LLC boosted its holdings in shares of ONEOK by 1.6% in the 3rd quarter. Claro Advisors LLC now owns 7,132 shares of the utilities provider’s stock valued at $650,000 after purchasing an additional 115 shares during the last quarter. Haverford Trust Co increased its holdings in shares of ONEOK by 1.2% during the 3rd quarter. Haverford Trust Co now owns 10,067 shares of the utilities provider’s stock worth $917,000 after buying an additional 117 shares during the last quarter. QRG Capital Management Inc. boosted its holdings in ONEOK by 2.2% in the second quarter. QRG Capital Management Inc. now owns 5,572 shares of the utilities provider’s stock valued at $454,000 after acquiring an additional 119 shares during the last quarter. Finally, Johnson Investment Counsel Inc. grew its position in ONEOK by 0.9% during the second quarter. Johnson Investment Counsel Inc. now owns 13,623 shares of the utilities provider’s stock valued at $1,111,000 after acquiring an additional 122 shares during the period. 69.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on OKE shares. Bank of America assumed coverage on shares of ONEOK in a research report on Thursday, October 17th. They set a “buy” rating and a $105.00 price target on the stock. Wells Fargo & Company increased their target price on ONEOK from $100.00 to $107.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Mizuho upgraded ONEOK to a “hold” rating in a report on Thursday, November 7th. US Capital Advisors upgraded shares of ONEOK from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, November 26th. Finally, Truist Financial upped their target price on shares of ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research note on Tuesday, December 3rd. Seven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $101.00.

ONEOK Trading Down 0.7 %

NYSE OKE opened at $104.34 on Wednesday. ONEOK, Inc. has a one year low of $65.49 and a one year high of $118.07. The company has a 50-day simple moving average of $102.71 and a 200-day simple moving average of $91.26. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. The firm has a market capitalization of $60.95 billion, a PE ratio of 21.83, a price-to-earnings-growth ratio of 5.49 and a beta of 1.69.

ONEOK (NYSE:OKE) last posted 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). ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The company had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $5.81 billion. During the same quarter in the previous year, the business posted $0.99 earnings per share. On average, equities analysts forecast that ONEOK, Inc. will post 5.1 earnings per share for the current year.

ONEOK Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 1st were paid a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 3.80%. The ex-dividend date was Friday, November 1st. ONEOK’s payout ratio is currently 82.85%.

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.