ONEOK, Inc. $OKE Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas decreased its holdings in ONEOK, Inc. (NYSE:OKE) by 11.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 96,390 shares of the utilities provider’s stock after selling 13,038 shares during the quarter. Teacher Retirement System of Texas’ holdings in ONEOK were worth $7,034,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. City Holding Co. acquired a new position in shares of ONEOK in the third quarter worth about $28,000. Global Wealth Strategies & Associates acquired a new stake in shares of ONEOK in the third quarter valued at $29,000. Financial Consulate Inc. bought a new position in shares of ONEOK in the 3rd quarter valued at about $29,000. Access Investment Management LLC acquired a new position in shares of ONEOK in the 2nd quarter valued at $33,000. Finally, Twin Peaks Wealth Advisors LLC bought a new position in ONEOK in the second quarter valued at $34,000. 69.13% of the stock is currently owned by institutional investors and hedge funds.

ONEOK Price Performance

NYSE:OKE opened at $77.54 on Tuesday. The stock’s 50-day moving average price is $73.29 and its 200-day moving average price is $73.42. ONEOK, Inc. has a 52 week low of $64.02 and a 52 week high of $103.64. The stock has a market capitalization of $48.79 billion, a PE ratio of 14.25, a price-to-earnings-growth ratio of 4.42 and a beta of 0.94. The company has a quick ratio of 0.75, a current ratio of 0.90 and a debt-to-equity ratio of 1.44.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Tuesday, October 28th. The utilities provider reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.48 by $0.01. The firm had revenue of $8.63 billion for the quarter, compared to the consensus estimate of $8.23 billion. ONEOK had a return on equity of 15.12% and a net margin of 10.58%.During the same quarter last year, the business posted $1.18 earnings per share. As a group, equities analysts expect that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Shareholders of record on Monday, February 2nd will be paid a $1.07 dividend. This is an increase from ONEOK’s previous quarterly dividend of $1.03. The ex-dividend date is Monday, February 2nd. This represents a $4.28 annualized dividend and a dividend yield of 5.5%. ONEOK’s dividend payout ratio (DPR) is 75.74%.

Analyst Ratings Changes

Several brokerages have recently issued reports on OKE. Wells Fargo & Company lowered their price target on shares of ONEOK from $90.00 to $82.00 and set an “equal weight” rating for the company in a report on Thursday, October 30th. Barclays cut their target price on shares of ONEOK from $78.00 to $76.00 and set an “equal weight” rating for the company in a research report on Thursday, January 15th. Scotiabank restated an “outperform” rating and issued a $91.00 price objective on shares of ONEOK in a report on Friday, January 16th. Jefferies Financial Group assumed coverage on shares of ONEOK in a report on Tuesday, January 20th. They issued a “hold” rating and a $80.00 price objective for the company. Finally, Citigroup decreased their target price on ONEOK from $102.00 to $95.00 and set a “buy” rating on the stock in a report on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $88.56.

Insider Buying and Selling

In related news, Director Brian L. Derksen purchased 2,500 shares of the business’s stock in a transaction dated Monday, November 3rd. The stock was acquired at an average price of $66.00 per share, for a total transaction of $165,000.00. Following the acquisition, the director directly owned 21,200 shares of the company’s stock, valued at $1,399,200. This trade represents a 13.37% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.20% of the stock is currently owned by insiders.

About ONEOK

ONEOK, Inc (NYSE: OKE) is a publicly traded midstream energy company headquartered in Tulsa, Oklahoma. The company owns and operates a portfolio of natural gas and natural gas liquids (NGL) pipelines, processing facilities, fractionators and storage and terminal assets. Its operations are focused on gathering, processing, transporting, fractionating and marketing NGLs and interstate natural gas, providing critical infrastructure that connects hydrocarbon production to refineries, petrochemical plants and other end markets.

ONEOK’s asset base includes pipeline systems and processing plants that move and condition natural gas, along with infrastructure for the transportation, storage and fractionation of NGLs such as ethane, propane and butane.