ONEOK, Inc. (NYSE:OKE) Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio cut its position in ONEOK, Inc. (NYSE:OKE) by 8.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 222,785 shares of the utilities provider’s stock after selling 21,003 shares during the period. Public Employees Retirement System of Ohio’s holdings in ONEOK were worth $17,861,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Energy Income Partners LLC increased its holdings in shares of ONEOK by 10.3% in the first quarter. Energy Income Partners LLC now owns 3,434,728 shares of the utilities provider’s stock valued at $275,362,000 after purchasing an additional 319,487 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of ONEOK by 1.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 792,631 shares of the utilities provider’s stock valued at $63,546,000 after purchasing an additional 11,982 shares during the period. LRI Investments LLC acquired a new position in shares of ONEOK in the first quarter valued at about $111,000. 1832 Asset Management L.P. acquired a new position in shares of ONEOK in the first quarter valued at about $2,445,000. Finally, Gamco Investors INC. ET AL increased its holdings in shares of ONEOK by 0.4% in the first quarter. Gamco Investors INC. ET AL now owns 175,950 shares of the utilities provider’s stock valued at $14,106,000 after purchasing an additional 700 shares during the period. 69.13% of the stock is owned by institutional investors and hedge funds.

ONEOK Price Performance

Shares of ONEOK stock opened at $82.47 on Tuesday. The business has a 50 day simple moving average of $81.38 and a two-hundred day simple moving average of $77.78. ONEOK, Inc. has a 12 month low of $60.58 and a 12 month high of $86.20. The stock has a market capitalization of $48.13 billion, a P/E ratio of 19.12, a PEG ratio of 4.33 and a beta of 1.65. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.70 and a quick ratio of 0.48.

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

ONEOK Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 14th. Investors of record on Thursday, August 1st will be given a $0.99 dividend. The ex-dividend date is Thursday, August 1st. This represents a $3.96 annualized dividend and a yield of 4.80%. ONEOK’s payout ratio is 92.09%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on OKE. Stifel Nicolaus upped their target price on ONEOK from $81.00 to $88.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Mizuho upped their target price on ONEOK from $81.00 to $85.00 and gave the stock a “neutral” rating in a research note on Friday. Tudor Pickering upgraded ONEOK to a “hold” rating in a research note on Thursday, July 18th. JPMorgan Chase & Co. upped their target price on ONEOK from $89.00 to $92.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 26th. Finally, Wells Fargo & Company upped their target price on ONEOK from $81.00 to $85.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. One analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, ONEOK currently has a consensus rating of “Hold” and a consensus target price of $84.83.

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.