Retirement Systems of Alabama Trims Stake in ONEOK, Inc. (NYSE:OKE)

Retirement Systems of Alabama cut its stake in ONEOK, Inc. (NYSE:OKE) by 1.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 126,482 shares of the utilities provider’s stock after selling 2,035 shares during the period. Retirement Systems of Alabama’s holdings in ONEOK were worth $12,699,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. International Assets Investment Management LLC boosted its position in shares of ONEOK by 9,439.9% during the third quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider’s stock valued at $294,440,000 after purchasing an additional 3,197,121 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in ONEOK by 3.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 17,480,774 shares of the utilities provider’s stock valued at $1,593,023,000 after buying an additional 661,854 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of ONEOK during the 3rd quarter valued at $47,957,000. Yaupon Capital Management LP purchased a new stake in shares of ONEOK in the 3rd quarter worth about $45,194,000. Finally, National Bank of Canada FI increased its stake in shares of ONEOK by 199.9% in the 3rd quarter. National Bank of Canada FI now owns 697,985 shares of the utilities provider’s stock worth $63,605,000 after acquiring an additional 465,243 shares in the last quarter. 69.13% of the stock is owned by institutional investors.

ONEOK Stock Down 0.1 %

Shares of ONEOK stock opened at $95.75 on Friday. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. ONEOK, Inc. has a twelve month low of $68.21 and a twelve month high of $118.07. The company has a market cap of $55.94 billion, a price-to-earnings ratio of 20.03, a price-to-earnings-growth ratio of 3.69 and a beta of 1.70. The company’s 50 day moving average is $103.28 and its 200 day moving average is $97.41.

ONEOK Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Monday, February 3rd will be paid a $1.03 dividend. This is an increase from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.30%. The ex-dividend date of this dividend is Monday, February 3rd. ONEOK’s dividend payout ratio (DPR) is 82.85%.

Wall Street Analyst Weigh In

OKE has been the topic of a number of recent research reports. Scotiabank started coverage on shares of ONEOK in a report on Friday, January 10th. They issued a “sector outperform” rating and a $109.00 price objective on the stock. Barclays started coverage on ONEOK in a research note on Thursday. They issued an “equal weight” rating and a $105.00 price target on the stock. US Capital Advisors upgraded ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, February 3rd. Wells Fargo & Company cut ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 target price on the stock. in a research note on Wednesday, December 18th. Finally, UBS Group lifted their price target on ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Seven research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $103.42.

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.