ONEOK, Inc. (NYSE:OKE) Shares Bought by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in ONEOK, Inc. (NYSE:OKE) by 0.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 980,682 shares of the utilities provider’s stock after purchasing an additional 8,442 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS owned about 0.17% of ONEOK worth $78,621,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Rise Advisors LLC acquired a new position in shares of ONEOK in the 1st quarter valued at $25,000. LifeSteps Financial Inc. purchased a new position in shares of ONEOK in the 1st quarter valued at $26,000. American National Bank purchased a new position in shares of ONEOK in the 1st quarter valued at $32,000. Beacon Capital Management LLC raised its stake in shares of ONEOK by 90.7% in the 4th quarter. Beacon Capital Management LLC now owns 408 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 194 shares during the period. Finally, HHM Wealth Advisors LLC purchased a new position in shares of ONEOK in the 4th quarter valued at $32,000. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Stock Performance

Shares of NYSE OKE traded up $0.43 during midday trading on Tuesday, hitting $85.11. The company’s stock had a trading volume of 1,562,170 shares, compared to its average volume of 2,755,815. ONEOK, Inc. has a 1-year low of $60.58 and a 1-year high of $85.77. The firm’s fifty day moving average price is $81.03 and its 200-day moving average price is $77.01. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.48 and a current ratio of 0.70. The firm has a market cap of $49.67 billion, a P/E ratio of 19.79, a P/E/G ratio of 4.54 and a beta of 1.65.

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

ONEOK Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a yield of 4.65%. The ex-dividend date was Tuesday, April 30th. ONEOK’s payout ratio is 92.09%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. raised their target price on shares of ONEOK from $89.00 to $92.00 and gave the company an “overweight” rating in a research note on Wednesday, June 26th. Morgan Stanley lifted their price target on shares of ONEOK from $90.00 to $93.00 and gave the stock an “equal weight” rating in a research note on Monday, June 10th. StockNews.com raised shares of ONEOK from a “sell” rating to a “hold” rating in a research note on Friday, May 17th. US Capital Advisors downgraded shares of ONEOK from an “overweight” rating to a “hold” rating in a research note on Wednesday, March 20th. Finally, Wells Fargo & Company lifted their price target on shares of ONEOK from $81.00 to $85.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. One equities research 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. Based on data from MarketBeat.com, ONEOK has a consensus rating of “Hold” and an average 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.