Teacher Retirement System of Texas decreased its position in ONEOK, Inc. (NYSE:OKE – Get Rating) by 50.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 63,777 shares of the utilities provider’s stock after selling 65,353 shares during the quarter. Teacher Retirement System of Texas’ holdings in ONEOK were worth $3,268,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of OKE. Larson Financial Group LLC boosted its stake in ONEOK by 3,874.4% in the third quarter. Larson Financial Group LLC now owns 32,868 shares of the utilities provider’s stock valued at $1,684,000 after acquiring an additional 32,041 shares in the last quarter. Global Retirement Partners LLC grew its position in shares of ONEOK by 1.8% in the third quarter. Global Retirement Partners LLC now owns 41,218 shares of the utilities provider’s stock valued at $2,445,000 after purchasing an additional 740 shares during the last quarter. Scissortail Wealth Management LLC grew its position in shares of ONEOK by 59.1% in the third quarter. Scissortail Wealth Management LLC now owns 4,392 shares of the utilities provider’s stock valued at $259,000 after purchasing an additional 1,631 shares during the last quarter. Barclays PLC grew its position in shares of ONEOK by 23.4% in the third quarter. Barclays PLC now owns 770,393 shares of the utilities provider’s stock valued at $39,474,000 after purchasing an additional 146,319 shares during the last quarter. Finally, WealthTrust Axiom LLC grew its position in shares of ONEOK by 5.1% in the third quarter. WealthTrust Axiom LLC now owns 20,687 shares of the utilities provider’s stock valued at $1,060,000 after purchasing an additional 997 shares during the last quarter. Hedge funds and other institutional investors own 67.16% of the company’s stock.
ONEOK Trading Down 0.3 %
Shares of OKE stock opened at $69.51 on Wednesday. ONEOK, Inc. has a 52-week low of $50.50 and a 52-week high of $75.07. The stock has a market cap of $31.07 billion, a price-to-earnings ratio of 19.31, a P/E/G ratio of 1.80 and a beta of 1.70. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.50 and a current ratio of 0.67. The firm has a fifty day moving average of $66.18 and a 200-day moving average of $61.64.
ONEOK Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 14th. Stockholders of record on Monday, January 30th will be issued a $0.955 dividend. The ex-dividend date of this dividend is Friday, January 27th. This is an increase from ONEOK’s previous quarterly dividend of $0.94. This represents a $3.82 dividend on an annualized basis and a dividend yield of 5.50%. ONEOK’s dividend payout ratio (DPR) is 103.89%.
Wall Street Analysts Forecast Growth
A number of brokerages recently issued reports on OKE. Wells Fargo & Company upgraded shares of ONEOK from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $68.00 to $75.00 in a research report on Friday, December 16th. Truist Financial lifted their price target on shares of ONEOK from $69.00 to $73.00 and gave the company a “buy” rating in a report on Wednesday, December 21st. JPMorgan Chase & Co. upgraded shares of ONEOK from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $71.00 to $75.00 in a report on Tuesday, January 10th. Barclays lifted their price target on shares of ONEOK from $59.00 to $71.00 and gave the company an “equal weight” rating in a report on Wednesday, January 18th. Finally, Citigroup initiated coverage on shares of ONEOK in a research note on Thursday, December 8th. They issued a “neutral” rating and a $67.00 target price on the stock. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $71.30.
ONEOK, Inc engages in gathering, processing, fractionating, transporting, storing and marketing of natural gas. It operates through the following segments: Natural Gas Gathering and Processing, Natural Gas Liquids and Natural Gas Pipelines. The Natural Gas Gathering and Processing segment offers midstream services to producers in North Dakota, Montana, Wyoming, Kansas and Oklahoma.
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