ONEOK, Inc. (NYSE:OKE) Stake Lifted by Arizona State Retirement System

Arizona State Retirement System boosted its holdings in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 10.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 186,812 shares of the utilities provider's stock after acquiring an additional 17,167 shares during the period. Arizona State Retirement System's holdings in ONEOK were worth $18,535,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Merit Financial Group LLC increased its position in shares of ONEOK by 11.4% during the 1st quarter. Merit Financial Group LLC now owns 11,505 shares of the utilities provider's stock worth $1,142,000 after purchasing an additional 1,180 shares during the last quarter. Cinctive Capital Management LP purchased a new position in shares of ONEOK during the fourth quarter worth $19,909,000. Dynamic Technology Lab Private Ltd boosted its holdings in ONEOK by 41.8% during the 4th quarter. Dynamic Technology Lab Private Ltd now owns 15,399 shares of the utilities provider's stock valued at $1,546,000 after acquiring an additional 4,538 shares during the period. Capital Investment Advisors LLC grew its holdings in shares of ONEOK by 3.9% in the first quarter. Capital Investment Advisors LLC now owns 289,997 shares of the utilities provider's stock valued at $28,774,000 after purchasing an additional 10,957 shares in the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund grew its stake in shares of ONEOK by 146.9% in the first quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 18,033 shares of the utilities provider's stock worth $1,789,000 after acquiring an additional 10,728 shares in the last quarter. Institutional investors and hedge funds own 69.13% of the company's stock.

Wall Street Analysts Forecast Growth

OKE has been the topic of a number of recent analyst reports. Citigroup dropped their price objective on shares of ONEOK from $110.00 to $102.00 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. Scotiabank cut their price target on ONEOK from $96.00 to $93.00 and set a "sector outperform" rating on the stock in a research report on Thursday, June 5th. TD Cowen began coverage on shares of ONEOK in a research note on Monday, July 7th. They set a "hold" rating and a $91.00 target price for the company. Wells Fargo & Company cut their price objective on shares of ONEOK from $102.00 to $93.00 and set an "equal weight" rating for the company in a research report on Thursday, May 1st. Finally, JPMorgan Chase & Co. raised their target price on ONEOK from $94.00 to $97.00 and gave the company an "overweight" rating in a report on Thursday, July 3rd. Seven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $103.14.

ONEOK Trading Up 0.3%

OKE traded up $0.27 during trading on Monday, hitting $81.61. The company's stock had a trading volume of 2,585,654 shares, compared to its average volume of 3,477,205. The stock has a market cap of $51.38 billion, a PE ratio of 15.94, a PEG ratio of 1.55 and a beta of 0.93. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.67 and a quick ratio of 0.52. ONEOK, Inc. has a twelve month low of $75.48 and a twelve month high of $118.07. The firm's 50 day moving average price is $81.94 and its 200-day moving average price is $90.75.

ONEOK (NYSE:OKE - Get Free Report) last issued its earnings results on Tuesday, April 29th. The utilities provider reported $1.04 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.28 by ($0.24). The firm had revenue of $6.49 billion for the quarter, compared to analysts' expectations of $8.23 billion. ONEOK had a return on equity of 15.58% and a net margin of 12.15%. During the same quarter in the previous year, the firm posted $1.09 EPS. On average, analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 5th were paid a $1.03 dividend. The ex-dividend date was Monday, May 5th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 5.05%. ONEOK's dividend payout ratio (DPR) is presently 80.47%.

ONEOK Company Profile

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.