Kentucky Retirement Systems Insurance Trust Fund Sells 1,529 Shares of ONEOK, Inc. (NYSE:OKE)

Kentucky Retirement Systems Insurance Trust Fund cut its holdings in ONEOK, Inc. (NYSE:OKE) by 7.4% in the 1st quarter, HoldingsChannel.com reports. The firm owned 19,225 shares of the utilities provider’s stock after selling 1,529 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in ONEOK were worth $1,541,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Sheets Smith Wealth Management lifted its stake in shares of ONEOK by 0.3% in the 1st quarter. Sheets Smith Wealth Management now owns 52,199 shares of the utilities provider’s stock valued at $4,185,000 after acquiring an additional 139 shares during the last quarter. Venturi Wealth Management LLC lifted its position in ONEOK by 5.3% in the first quarter. Venturi Wealth Management LLC now owns 2,809 shares of the utilities provider’s stock valued at $225,000 after purchasing an additional 142 shares during the last quarter. Massmutual Trust Co. FSB ADV boosted its stake in shares of ONEOK by 4.7% during the first quarter. Massmutual Trust Co. FSB ADV now owns 3,199 shares of the utilities provider’s stock valued at $256,000 after purchasing an additional 144 shares during the period. Presima Securities ULC grew its holdings in shares of ONEOK by 1.7% in the fourth quarter. Presima Securities ULC now owns 9,100 shares of the utilities provider’s stock worth $639,000 after purchasing an additional 150 shares during the last quarter. Finally, FourThought Financial Partners LLC increased its stake in shares of ONEOK by 3.8% in the fourth quarter. FourThought Financial Partners LLC now owns 4,386 shares of the utilities provider’s stock worth $308,000 after buying an additional 161 shares during the period. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

OKE has been the topic of a number of recent analyst reports. Tudor Pickering raised shares of ONEOK to a “hold” rating in a report on Thursday, July 18th. Mizuho raised their target price on ONEOK from $81.00 to $85.00 and gave the stock a “neutral” rating in a research note on Friday. Wells Fargo & Company upped their price target on ONEOK from $81.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. JPMorgan Chase & Co. lifted their price objective on ONEOK from $89.00 to $92.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 26th. Finally, Stifel Nicolaus raised their price target on ONEOK from $81.00 to $88.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $84.83.

ONEOK Stock Up 0.8 %

Shares of ONEOK stock traded up $0.62 during trading on Friday, hitting $82.02. The company’s stock had a trading volume of 1,826,761 shares, compared to its average volume of 2,137,539. ONEOK, Inc. has a 52 week low of $60.58 and a 52 week high of $86.20. 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 company has a fifty day simple moving average of $81.39 and a two-hundred day simple moving average of $77.65. The company has a market capitalization of $47.87 billion, a PE ratio of 19.07, a P/E/G ratio of 4.34 and a beta of 1.65.

ONEOK (NYSE:OKE) last announced its earnings results on Tuesday, April 30th. The utilities provider reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $5.84 billion. During the same quarter last year, the firm earned $2.34 earnings per share. Equities research analysts predict that ONEOK, Inc. will post 5.06 earnings per share for the current year.

ONEOK Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 14th. Stockholders of record on Thursday, August 1st will be paid a $0.99 dividend. The ex-dividend date of this dividend is Thursday, August 1st. This represents a $3.96 dividend on an annualized basis and a dividend yield of 4.83%. ONEOK’s dividend payout ratio is currently 92.09%.

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.