ONEOK, Inc. (NYSE:OKE) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas decreased its position in shares of ONEOK, Inc. (NYSE:OKE) by 91.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,467 shares of the utilities provider’s stock after selling 59,623 shares during the quarter. Teacher Retirement System of Texas’ holdings in ONEOK were worth $549,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Raymond James Financial Inc. acquired a new position in shares of ONEOK in the fourth quarter worth about $182,694,000. Charles Schwab Investment Management Inc. boosted its position in ONEOK by 5.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 18,414,781 shares of the utilities provider’s stock worth $1,848,844,000 after purchasing an additional 934,007 shares in the last quarter. National Pension Service grew its holdings in ONEOK by 65.3% in the fourth quarter. National Pension Service now owns 1,262,741 shares of the utilities provider’s stock valued at $126,779,000 after purchasing an additional 498,908 shares during the period. Yaupon Capital Management LP purchased a new stake in shares of ONEOK in the third quarter valued at approximately $45,194,000. Finally, Strategic Financial Concepts LLC raised its stake in shares of ONEOK by 10,153.8% during the 4th quarter. Strategic Financial Concepts LLC now owns 494,645 shares of the utilities provider’s stock worth $49,662,000 after buying an additional 489,821 shares during the period. 69.13% of the stock is currently owned by institutional investors and hedge funds.

ONEOK Stock Down 0.2 %

OKE stock opened at $98.47 on Monday. The firm has a market cap of $61.48 billion, a PE ratio of 20.60, a PEG ratio of 3.77 and a beta of 1.70. ONEOK, Inc. has a one year low of $76.23 and a one year high of $118.07. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. The firm’s 50 day moving average price is $98.32 and its 200-day moving average price is $100.24.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Monday, February 24th. The utilities provider reported $1.57 EPS for the quarter, beating the consensus estimate of $1.46 by $0.11. The business had revenue of $7 billion for the quarter, compared to analyst estimates of $6.18 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. On average, equities research analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.18%. This is an increase from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date of this dividend was Monday, February 3rd. ONEOK’s payout ratio is 79.69%.

Wall Street Analyst Weigh In

OKE has been the subject of several recent analyst reports. Wells Fargo & Company cut their price target on shares of ONEOK from $107.00 to $102.00 and set an “equal weight” rating for the company in a report on Wednesday, February 26th. Wolfe Research raised shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price target on the stock in a research note on Monday, February 10th. Scotiabank lowered their price objective on ONEOK from $109.00 to $102.00 and set a “sector outperform” rating on the stock in a report on Thursday, March 6th. Truist Financial increased their target price on ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a report on Tuesday, December 3rd. Finally, Barclays lowered their price target on ONEOK from $105.00 to $101.00 and set an “equal weight” rating on the stock in a research note on Friday, March 7th. Seven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $105.00.

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.