Commonwealth of Pennsylvania Public School Empls Retrmt SYS Has $97.50 Million Position in ONEOK, Inc. (NYSE:OKE)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS decreased its holdings in ONEOK, Inc. (NYSE:OKE) by 0.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 971,083 shares of the utilities provider’s stock after selling 4,223 shares during the quarter. ONEOK accounts for approximately 0.6% of Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings, making the stock its 27th biggest holding. Commonwealth of Pennsylvania Public School Empls Retrmt SYS owned 0.17% of ONEOK worth $97,497,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Raymond James Financial Inc. bought a new stake in shares of ONEOK in the 4th quarter worth about $182,694,000. Charles Schwab Investment Management Inc. boosted its position in ONEOK by 5.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 18,414,781 shares of the utilities provider’s stock valued at $1,848,844,000 after buying an additional 934,007 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in ONEOK in the third quarter valued at about $47,957,000. National Pension Service grew its stake in ONEOK by 65.3% during the fourth quarter. National Pension Service now owns 1,262,741 shares of the utilities provider’s stock worth $126,779,000 after buying an additional 498,908 shares during the last quarter. Finally, Yaupon Capital Management LP acquired a new stake in shares of ONEOK during the third quarter worth approximately $45,194,000. 69.13% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Wells Fargo & Company reduced their target price on ONEOK from $107.00 to $102.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 26th. Citigroup initiated coverage on ONEOK in a report on Friday, February 28th. They set a “buy” rating and a $110.00 target price on the stock. Barclays lowered their target price on ONEOK from $105.00 to $101.00 and set an “equal weight” rating for the company in a research note on Friday, March 7th. US Capital Advisors upgraded shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, February 3rd. Finally, Truist Financial raised their price objective on shares of ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research report on Tuesday, December 3rd. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $103.31.

ONEOK Trading Up 2.2 %

Shares of NYSE OKE opened at $100.12 on Thursday. The company’s 50 day simple moving average is $99.03 and its 200 day simple moving average is $99.75. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. ONEOK, Inc. has a fifty-two week low of $76.23 and a fifty-two week high of $118.07. The firm has a market capitalization of $62.51 billion, a P/E ratio of 20.95, a P/E/G ratio of 3.77 and a beta of 1.70.

ONEOK (NYSE:OKE) last posted its quarterly earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.11. The business had revenue of $7 billion for the quarter, compared to analyst estimates of $6.18 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. On average, analysts predict that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were given a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.11%. This is an increase from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date of this dividend was Monday, February 3rd. ONEOK’s dividend payout ratio (DPR) is currently 79.69%.

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.