ONEOK, Inc. (NYSE:OKE) Stock Holdings Cut by Kentucky Retirement Systems

Kentucky Retirement Systems lessened its position in ONEOK, Inc. (NYSE:OKE) by 5.1% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 44,241 shares of the utilities provider’s stock after selling 2,369 shares during the period. Kentucky Retirement Systems’ holdings in ONEOK were worth $3,547,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of OKE. CVA Family Office LLC acquired a new stake in ONEOK in the 4th quarter valued at about $57,000. Blackston Financial Advisory Group LLC acquired a new position in ONEOK in the fourth quarter worth approximately $457,000. Schechter Investment Advisors LLC grew its position in ONEOK by 5.6% in the fourth quarter. Schechter Investment Advisors LLC now owns 8,179 shares of the utilities provider’s stock worth $574,000 after buying an additional 437 shares during the last quarter. IFG Advisory LLC acquired a new stake in shares of ONEOK during the 4th quarter valued at $306,000. Finally, WASHINGTON TRUST Co lifted its position in shares of ONEOK by 29.8% during the 4th quarter. WASHINGTON TRUST Co now owns 2,596 shares of the utilities provider’s stock valued at $182,000 after acquiring an additional 596 shares during the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on OKE shares. Morgan Stanley boosted their target price on ONEOK from $90.00 to $93.00 and gave the stock an “equal weight” rating in a research report on Monday, June 10th. Tudor Pickering raised ONEOK to a “hold” rating in a research note on Thursday, July 18th. Mizuho upped their price objective on shares of ONEOK from $81.00 to $85.00 and gave the company a “neutral” rating in a research note on Friday. Stifel Nicolaus lifted their target price on shares of ONEOK from $81.00 to $88.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Finally, JPMorgan Chase & Co. boosted their price target on shares of ONEOK from $89.00 to $92.00 and gave the company an “overweight” rating in a report on Wednesday, June 26th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $84.83.

ONEOK Stock Up 0.8 %

Shares of NYSE:OKE traded up $0.62 during midday trading on Friday, hitting $82.02. 1,826,761 shares of the stock were exchanged, compared to its average volume of 2,137,539. 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, 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 business’s fifty day simple moving average is $81.39 and its two-hundred day simple moving average is $77.65.

ONEOK (NYSE:OKE) last posted its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.03. The company had revenue of $4.78 billion during the quarter, compared to the consensus estimate of $5.84 billion. ONEOK had a return on equity of 15.94% and a net margin of 12.54%. During the same period last year, the business earned $2.34 EPS. As a group, research analysts predict that ONEOK, Inc. will post 5.06 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

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

ONEOK Company 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.