Kentucky Retirement Systems Trims Position in ONEOK, Inc. (NYSE:OKE)

Kentucky Retirement Systems lessened its stake in ONEOK, Inc. (NYSE:OKE) by 0.6% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 43,981 shares of the utilities provider’s stock after selling 260 shares during the quarter. Kentucky Retirement Systems’ holdings in ONEOK were worth $3,587,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Rise Advisors LLC purchased a new position in ONEOK in the 1st quarter worth about $25,000. LifeSteps Financial Inc. purchased a new position in ONEOK in the 1st quarter worth about $26,000. Quest Partners LLC purchased a new position in ONEOK in the 2nd quarter worth about $28,000. Ridgewood Investments LLC purchased a new position in ONEOK in the 2nd quarter worth about $31,000. Finally, American National Bank purchased a new position in ONEOK in the 1st quarter worth about $32,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Insider Buying and Selling

In related news, Director Pattye L. Moore sold 3,379 shares of ONEOK stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $92.01, for a total value of $310,901.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.20% of the stock is owned by company insiders.

ONEOK Stock Down 0.1 %

OKE stock opened at $93.77 on Friday. The firm has a 50 day moving average of $87.05 and a 200 day moving average of $82.30. The stock has a market capitalization of $54.77 billion, a PE ratio of 21.81, a price-to-earnings-growth ratio of 4.49 and a beta of 1.67. 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, Inc. has a 52 week low of $60.58 and a 52 week high of $95.28.

ONEOK (NYSE:OKE) last released its earnings results on Monday, August 5th. The utilities provider reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.12. The company had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $5.52 billion. ONEOK had a net margin of 13.41% and a return on equity of 15.54%. During the same period last year, the business earned $1.04 EPS. Sell-side analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Thursday, August 1st were paid a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 4.22%. The ex-dividend date of this dividend was Thursday, August 1st. ONEOK’s dividend payout ratio (DPR) is presently 92.09%.

Analyst Ratings Changes

Several research firms recently commented on OKE. Barclays raised their price target on shares of ONEOK from $82.00 to $94.00 and gave the stock an “equal weight” rating in a research note on Monday. JPMorgan Chase & Co. increased their target price on shares of ONEOK from $89.00 to $92.00 and gave the stock an “overweight” rating in a report on Wednesday, June 26th. Wells Fargo & Company increased their target price on shares of ONEOK from $91.00 to $100.00 and gave the stock an “overweight” rating in a report on Friday, August 30th. Mizuho increased their target price on shares of ONEOK from $81.00 to $85.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Finally, Truist Financial increased their target price on shares of ONEOK from $81.00 to $83.00 and gave the stock a “hold” rating in a report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $92.38.

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.