Teacher Retirement System of Texas lowered its stake in ONEOK, Inc. (NYSE:OKE – Get Rating) by 50.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 63,777 shares of the utilities provider’s stock after selling 65,353 shares during the quarter. Teacher Retirement System of Texas’ holdings in ONEOK were worth $3,268,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also added to or reduced their stakes in OKE. First Command Bank raised its holdings in shares of ONEOK by 401.0% in the 2nd quarter. First Command Bank now owns 491 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 393 shares in the last quarter. Worth Asset Management LLC purchased a new stake in shares of ONEOK in the 1st quarter valued at about $30,000. EdgeRock Capital LLC purchased a new stake in shares of ONEOK in the 3rd quarter valued at about $31,000. Hallmark Capital Management Inc. purchased a new stake in shares of ONEOK in the 2nd quarter valued at about $33,000. Finally, Heritage Wealth Advisors purchased a new stake in shares of ONEOK in the 2nd quarter valued at about $33,000. Institutional investors own 67.16% of the company’s stock.
ONEOK Stock Down 0.3 %
OKE stock opened at $69.51 on Wednesday. ONEOK, Inc. has a 1-year low of $50.50 and a 1-year high of $75.07. The business has a fifty day moving average price of $66.18 and a 200-day moving average price of $61.64. The company has a debt-to-equity ratio of 1.89, a current ratio of 0.67 and a quick ratio of 0.50. The stock has a market capitalization of $31.07 billion, a P/E ratio of 19.31, a P/E/G ratio of 1.80 and a beta of 1.70.
ONEOK Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 14th. Investors of record on Monday, January 30th will be paid a dividend of $0.955 per share. The ex-dividend date of this dividend is Friday, January 27th. This is a positive change from ONEOK’s previous quarterly dividend of $0.94. This represents a $3.82 dividend on an annualized basis and a yield of 5.50%. ONEOK’s dividend payout ratio is presently 103.89%.
Analyst Upgrades and Downgrades
Several analysts have weighed in on OKE shares. JPMorgan Chase & Co. raised ONEOK from a “neutral” rating to an “overweight” rating and raised their price target for the company from $71.00 to $75.00 in a report on Tuesday, January 10th. Raymond James raised their price target on ONEOK from $65.00 to $72.00 and gave the company an “outperform” rating in a report on Monday. StockNews.com began coverage on ONEOK in a report on Wednesday, October 12th. They set a “hold” rating on the stock. Barclays raised their price objective on ONEOK from $59.00 to $71.00 and gave the company an “equal weight” rating in a report on Wednesday, January 18th. Finally, Wells Fargo & Company raised ONEOK from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $68.00 to $75.00 in a report on Friday, December 16th. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $71.30.
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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