Kentucky Retirement Systems lowered its position in shares of ONEOK, Inc. (NYSE:OKE – Free Report) by 0.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 43,981 shares of the utilities provider’s stock after selling 260 shares during the quarter. Kentucky Retirement Systems’ holdings in ONEOK were worth $3,587,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Rise Advisors LLC purchased a new position in ONEOK during the first quarter valued at approximately $25,000. LifeSteps Financial Inc. purchased a new position in ONEOK during the first quarter valued at approximately $26,000. Quest Partners LLC purchased a new position in ONEOK during the second quarter valued at approximately $28,000. Ridgewood Investments LLC purchased a new position in ONEOK during the second quarter valued at approximately $31,000. Finally, American National Bank purchased a new position in ONEOK during the first quarter valued at approximately $32,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.
ONEOK Trading Down 0.1 %
Shares of OKE opened at $93.77 on Friday. The company’s fifty day moving average is $87.05 and its 200 day moving average is $82.30. ONEOK, Inc. has a fifty-two week low of $60.58 and a fifty-two week high of $95.28. The stock has a market capitalization of $54.77 billion, a PE ratio of 21.81, a P/E/G ratio of 4.49 and a beta of 1.67. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.41 and a current ratio of 0.62.
ONEOK Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Thursday, August 1st were given a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 4.22%. The ex-dividend date of this dividend was Thursday, August 1st. ONEOK’s dividend payout ratio (DPR) is 92.09%.
Insider Buying and Selling at ONEOK
In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of the business’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $92.01, for a total transaction of $310,901.79. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.20% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities analysts have recently commented on OKE shares. Citigroup boosted their target price on shares of ONEOK from $85.00 to $102.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Barclays boosted their target price on shares of ONEOK from $82.00 to $94.00 and gave the stock an “equal weight” rating in a report on Monday. JPMorgan Chase & Co. boosted their target price on shares of ONEOK from $89.00 to $92.00 and gave the stock an “overweight” rating in a report on Wednesday, June 26th. Truist Financial boosted their target price on shares of ONEOK from $81.00 to $83.00 and gave the stock a “hold” rating in a report on Wednesday, July 31st. Finally, Scotiabank boosted their target price on shares of ONEOK from $88.00 to $102.00 and gave the stock a “sector outperform” rating in a report on Friday, August 30th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $92.38.
View Our Latest Analysis on ONEOK
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.
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