Retirement Systems of Alabama boosted its stake in ONEOK, Inc. (NYSE:OKE) by 1.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 191,666 shares of the utilities provider’s stock after acquiring an additional 2,016 shares during the period. Retirement Systems of Alabama’s holdings in ONEOK were worth $13,386,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Reilly Financial Advisors LLC raised its position in ONEOK by 142.4% in the 4th quarter. Reilly Financial Advisors LLC now owns 497 shares of the utilities provider’s stock worth $27,000 after buying an additional 292 shares during the last quarter. PRW Wealth Management LLC bought a new stake in shares of ONEOK during the 4th quarter valued at about $27,000. Capital Financial Planning LLC bought a new stake in shares of ONEOK during the 4th quarter valued at about $30,000. Covington Capital Management grew its stake in shares of ONEOK by 46.3% during the 4th quarter. Covington Capital Management now owns 585 shares of the utilities provider’s stock valued at $32,000 after purchasing an additional 185 shares during the period. Finally, Liberty Wealth Management LLC bought a new position in shares of ONEOK during the 4th quarter valued at approximately $33,000. Institutional investors and hedge funds own 75.46% of the company’s stock.
A number of research analysts recently issued reports on OKE shares. Barclays set a $66.00 price objective on ONEOK and gave the company a “hold” rating in a research note on Wednesday, January 16th. US Capital Advisors reiterated a “buy” rating on shares of ONEOK in a research note on Wednesday, January 16th. SunTrust Banks assumed coverage on ONEOK in a report on Friday, January 18th. They issued a “buy” rating and a $72.00 price target on the stock. Evercore ISI assumed coverage on ONEOK in a report on Tuesday, February 5th. They issued a $68.00 price target on the stock. Finally, UBS Group cut ONEOK from a “buy” rating to a “neutral” rating and set a $68.00 price target on the stock. in a report on Tuesday, February 26th. Ten equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $71.73.
Shares of ONEOK stock opened at $67.22 on Friday. ONEOK, Inc. has a 52 week low of $50.26 and a 52 week high of $71.99. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.55 and a current ratio of 0.79. The firm has a market capitalization of $27.75 billion, a price-to-earnings ratio of 24.18, a price-to-earnings-growth ratio of 1.90 and a beta of 1.20.
ONEOK (NYSE:OKE) last posted its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.08. ONEOK had a return on equity of 18.47% and a net margin of 9.98%. The business had revenue of $2.78 billion for the quarter, compared to the consensus estimate of $2.70 billion. During the same quarter in the prior year, the company earned $0.64 EPS. On average, equities analysts expect that ONEOK, Inc. will post 3.08 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 29th will be paid a $0.865 dividend. The ex-dividend date of this dividend is Friday, April 26th. This is a boost from ONEOK’s previous quarterly dividend of $0.86. This represents a $3.46 dividend on an annualized basis and a yield of 5.15%. ONEOK’s dividend payout ratio (DPR) is 124.46%.
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ONEOK, Inc, together with its subsidiaries, engages in the gathering, processing, storage, and transportation of natural gas in the United States. It operates through Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments. The company owns natural gas gathering pipelines and processing plants in the Mid-Continent and Rocky Mountain regions.
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