ONEOK, Inc. $OKE Holdings Reduced by Teacher Retirement System of Texas

Teacher Retirement System of Texas trimmed its position in ONEOK, Inc. (NYSE:OKE) by 11.9% in the third quarter, HoldingsChannel.com reports. The firm owned 96,390 shares of the utilities provider’s stock after selling 13,038 shares during the quarter. Teacher Retirement System of Texas’ holdings in ONEOK were worth $7,034,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of OKE. Norges Bank acquired a new stake in ONEOK in the 2nd quarter worth approximately $562,832,000. First Eagle Investment Management LLC lifted its holdings in ONEOK by 130.8% in the second quarter. First Eagle Investment Management LLC now owns 6,256,173 shares of the utilities provider’s stock valued at $510,691,000 after buying an additional 3,545,256 shares during the period. Boston Partners boosted its stake in ONEOK by 53.7% during the 2nd quarter. Boston Partners now owns 5,509,100 shares of the utilities provider’s stock worth $448,476,000 after acquiring an additional 1,924,864 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of ONEOK by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 76,510,971 shares of the utilities provider’s stock valued at $6,245,591,000 after purchasing an additional 1,314,002 shares in the last quarter. Finally, Man Group plc raised its stake in shares of ONEOK by 292.1% in the 2nd quarter. Man Group plc now owns 1,558,993 shares of the utilities provider’s stock valued at $127,261,000 after purchasing an additional 1,161,352 shares during the period. 69.13% of the stock is currently owned by institutional investors and hedge funds.

ONEOK Price Performance

NYSE:OKE opened at $77.54 on Tuesday. The company has a debt-to-equity ratio of 1.44, a current ratio of 0.90 and a quick ratio of 0.75. ONEOK, Inc. has a 1-year low of $64.02 and a 1-year high of $103.64. The firm has a market cap of $48.79 billion, a price-to-earnings ratio of 14.25, a price-to-earnings-growth ratio of 4.42 and a beta of 0.94. The company has a 50 day moving average price of $73.29 and a 200-day moving average price of $73.42.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Tuesday, October 28th. The utilities provider reported $1.49 EPS for the quarter, topping the consensus estimate of $1.48 by $0.01. ONEOK had a return on equity of 15.12% and a net margin of 10.58%.The business had revenue of $8.63 billion during the quarter, compared to analyst estimates of $8.23 billion. During the same period last year, the business posted $1.18 earnings per share. Equities research analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Monday, February 2nd will be paid a dividend of $1.07 per share. The ex-dividend date of this dividend is Monday, February 2nd. This is a positive change from ONEOK’s previous quarterly dividend of $1.03. This represents a $4.28 annualized dividend and a dividend yield of 5.5%. ONEOK’s payout ratio is currently 75.74%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on OKE. Stifel Nicolaus set a $94.00 price target on shares of ONEOK in a research report on Thursday, October 30th. Wells Fargo & Company lowered their price objective on ONEOK from $90.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 30th. TD Cowen dropped their target price on shares of ONEOK from $78.00 to $76.00 and set a “hold” rating for the company in a research report on Thursday, October 30th. Weiss Ratings reissued a “hold (c)” rating on shares of ONEOK in a research note on Monday, December 29th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $72.00 price target on shares of ONEOK in a research report on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $88.56.

Insider Buying and Selling at ONEOK

In related news, Director Brian L. Derksen purchased 2,500 shares of the firm’s stock in a transaction on Monday, November 3rd. The stock was purchased at an average price of $66.00 per share, for a total transaction of $165,000.00. Following the acquisition, the director directly owned 21,200 shares in the company, valued at $1,399,200. The trade was a 13.37% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.20% of the company’s stock.

ONEOK Company Profile

ONEOK, Inc (NYSE: OKE) is a publicly traded midstream energy company headquartered in Tulsa, Oklahoma. The company owns and operates a portfolio of natural gas and natural gas liquids (NGL) pipelines, processing facilities, fractionators and storage and terminal assets. Its operations are focused on gathering, processing, transporting, fractionating and marketing NGLs and interstate natural gas, providing critical infrastructure that connects hydrocarbon production to refineries, petrochemical plants and other end markets.

ONEOK’s asset base includes pipeline systems and processing plants that move and condition natural gas, along with infrastructure for the transportation, storage and fractionation of NGLs such as ethane, propane and butane.