Public Employees Retirement Association of Colorado Decreases Position in ONEOK, Inc. (NYSE:OKE)

Public Employees Retirement Association of Colorado lowered its stake in shares of ONEOK, Inc. (NYSE:OKE) by 3.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 60,608 shares of the utilities provider’s stock after selling 2,011 shares during the period. Public Employees Retirement Association of Colorado’s holdings in ONEOK were worth $4,943,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of OKE. Tortoise Capital Advisors L.L.C. grew its stake in ONEOK by 3.5% in the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 6,795,313 shares of the utilities provider’s stock valued at $554,158,000 after buying an additional 232,043 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of ONEOK by 1.5% during the 4th quarter. Northern Trust Corp now owns 5,754,127 shares of the utilities provider’s stock worth $404,055,000 after acquiring an additional 85,736 shares during the last quarter. Kayne Anderson Capital Advisors LP lifted its holdings in shares of ONEOK by 28.7% during the 1st quarter. Kayne Anderson Capital Advisors LP now owns 3,705,367 shares of the utilities provider’s stock worth $297,059,000 after acquiring an additional 825,464 shares during the last quarter. First Eagle Investment Management LLC lifted its stake in ONEOK by 12.3% in the first quarter. First Eagle Investment Management LLC now owns 3,465,068 shares of the utilities provider’s stock worth $277,795,000 after purchasing an additional 378,509 shares during the last quarter. Finally, Energy Income Partners LLC lifted its stake in ONEOK by 10.3% in the first quarter. Energy Income Partners LLC now owns 3,434,728 shares of the utilities provider’s stock worth $275,362,000 after purchasing an additional 319,487 shares during the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Insider Buying and Selling at ONEOK

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $92.01, for a total transaction of $310,901.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on OKE shares. Mizuho boosted their price target on shares of ONEOK from $81.00 to $85.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Citigroup boosted their price objective on shares of ONEOK from $85.00 to $102.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Scotiabank boosted their price objective on shares of ONEOK from $88.00 to $102.00 and gave the company a “sector outperform” rating in a research report on Friday, August 30th. Barclays boosted their price objective on shares of ONEOK from $82.00 to $94.00 and gave the company an “equal weight” rating in a research report on Monday, September 16th. Finally, Wells Fargo & Company boosted their price target on shares of ONEOK from $91.00 to $100.00 and gave the company an “overweight” rating in a research report on Friday, August 30th. One 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. According to data from MarketBeat.com, ONEOK presently has a consensus rating of “Hold” and an average price target of $92.38.

ONEOK Stock Up 0.2 %

Shares of ONEOK stock opened at $93.97 on Monday. The company has a market cap of $54.89 billion, a price-to-earnings ratio of 21.85, a price-to-earnings-growth ratio of 4.64 and a beta of 1.67. The company’s 50 day moving average is $87.24 and its 200 day moving average is $82.49. ONEOK, Inc. has a twelve month low of $60.58 and a twelve month high of $95.28. The company has a quick ratio of 0.41, a current ratio of 0.62 and a debt-to-equity ratio of 1.22.

ONEOK (NYSE:OKE) last issued its quarterly earnings data on Monday, August 5th. The utilities provider reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.12. The company had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $5.52 billion. ONEOK had a net margin of 13.41% and a return on equity of 15.54%. During the same quarter in the prior year, the firm earned $1.04 earnings per share. Research analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Thursday, August 1st were issued a dividend of $0.99 per share. The ex-dividend date was Thursday, August 1st. This represents a $3.96 dividend on an annualized basis and a yield of 4.21%. ONEOK’s dividend payout ratio is currently 92.09%.

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.