State of Alaska Department of Revenue Sells 2,125 Shares of ONEOK, Inc. (NYSE:OKE)

State of Alaska Department of Revenue cut its holdings in ONEOK, Inc. (NYSE:OKE) by 2.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 70,246 shares of the utilities provider’s stock after selling 2,125 shares during the period. State of Alaska Department of Revenue’s holdings in ONEOK were worth $5,631,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Rise Advisors LLC bought a new position in shares of ONEOK in the first quarter worth about $25,000. American National Bank bought a new position in shares of ONEOK in the first quarter worth about $32,000. Beacon Capital Management LLC increased its stake in shares of ONEOK by 90.7% in the fourth quarter. Beacon Capital Management LLC now owns 408 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 194 shares during the period. HHM Wealth Advisors LLC acquired a new stake in ONEOK during the fourth quarter worth about $32,000. Finally, Security National Bank acquired a new stake in ONEOK during the fourth quarter worth about $35,000. 69.13% of the stock is currently owned by institutional investors.

ONEOK Stock Up 0.6 %

Shares of OKE opened at $82.82 on Thursday. The company has a market capitalization of $48.34 billion, a P/E ratio of 19.26, a PEG ratio of 4.41 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, Inc. has a one year low of $60.52 and a one year high of $83.31. The business’s 50 day simple moving average is $80.23 and its 200-day simple moving average is $76.07.

ONEOK (NYSE:OKE) last announced its earnings results on Tuesday, April 30th. The utilities provider reported $1.09 EPS for the quarter, topping the consensus estimate of $1.06 by $0.03. The business had revenue of $4.78 billion for 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 in the previous year, the business earned $2.34 EPS. As a group, sell-side analysts predict that ONEOK, Inc. will post 4.95 EPS for the current fiscal year.

ONEOK Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st were issued a $0.99 dividend. This represents a $3.96 annualized dividend and a dividend yield of 4.78%. The ex-dividend date of this dividend was Tuesday, April 30th. ONEOK’s payout ratio is currently 92.09%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. JPMorgan Chase & Co. lifted their target price on ONEOK from $89.00 to $92.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 26th. Wells Fargo & Company lifted their target price on ONEOK from $81.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Mizuho lifted their target price on ONEOK from $75.00 to $81.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 20th. Barclays lifted their target price on ONEOK from $73.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 7th. Finally, Stifel Nicolaus lifted their target price on ONEOK from $81.00 to $88.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $84.50.

ONEOK 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.