New York State Teachers Retirement System cut its holdings in shares of ONEOK, Inc. (NYSE:OKE – Get Rating) by 1.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 484,757 shares of the utilities provider’s stock after selling 5,243 shares during the period. New York State Teachers Retirement System owned about 0.11% of ONEOK worth $31,849,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in shares of ONEOK by 0.9% in the 3rd quarter. Vanguard Group Inc. now owns 53,239,870 shares of the utilities provider’s stock valued at $2,728,011,000 after acquiring an additional 475,674 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of ONEOK by 7.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 7,288,822 shares of the utilities provider’s stock valued at $514,810,000 after acquiring an additional 527,138 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of ONEOK by 0.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 6,462,364 shares of the utilities provider’s stock valued at $331,132,000 after acquiring an additional 48,603 shares during the last quarter. Cowa LLC lifted its stake in shares of ONEOK by 9,775.0% in the 1st quarter. Cowa LLC now owns 5,324,428 shares of the utilities provider’s stock valued at $3,761,000 after acquiring an additional 5,270,510 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in shares of ONEOK by 4.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,941,109 shares of the utilities provider’s stock valued at $348,990,000 after acquiring an additional 204,477 shares during the last quarter. 67.16% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
OKE has been the subject of a number of research reports. Mizuho increased their price target on ONEOK from $66.00 to $70.00 and gave the company a “neutral” rating in a research note on Thursday, March 2nd. Citigroup raised ONEOK from a “neutral” rating to a “buy” rating and raised their target price for the stock from $71.00 to $72.00 in a research report on Tuesday, April 4th. Morgan Stanley raised their target price on ONEOK from $70.00 to $81.00 and gave the stock an “equal weight” rating in a research report on Monday, January 9th. Seaport Res Ptn reaffirmed a “neutral” rating on shares of ONEOK in a research report on Thursday, February 16th. Finally, Barclays raised their target price on ONEOK from $59.00 to $71.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 18th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, ONEOK has a consensus rating of “Moderate Buy” and an average price target of $74.80.
ONEOK Stock Performance
ONEOK (NYSE:OKE – Get Rating) last issued its earnings results on Monday, February 27th. The utilities provider reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $1.02 by $0.06. ONEOK had a return on equity of 27.65% and a net margin of 7.69%. The business had revenue of $5.03 billion during the quarter, compared to analyst estimates of $6.03 billion. During the same period in the previous year, the company posted $0.85 EPS. The firm’s revenue was down 7.2% compared to the same quarter last year. As a group, equities research analysts expect that ONEOK, Inc. will post 5.25 earnings per share for the current year.
ONEOK Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, February 14th. Investors of record on Monday, January 30th were given a $0.955 dividend. This represents a $3.82 dividend on an annualized basis and a yield of 5.75%. This is a positive change from ONEOK’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend was Friday, January 27th. ONEOK’s payout ratio is presently 99.74%.
ONEOK Company Profile
ONEOK, Inc engages in gathering, processing, fractionating, transporting, storing and marketing of natural gas. It operates through the following segments: Natural Gas Gathering and Processing, Natural Gas Liquids and Natural Gas Pipelines. The Natural Gas Gathering and Processing segment offers midstream services to producers in North Dakota, Montana, Wyoming, Kansas and Oklahoma.
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