New York State Teachers Retirement System Trims Holdings in ONEOK, Inc. (NYSE:OKE)

New York State Teachers Retirement System trimmed its position in ONEOK, Inc. (NYSE:OKE - Free Report) by 1.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 462,325 shares of the utilities provider's stock after selling 5,084 shares during the quarter. New York State Teachers Retirement System owned about 0.07% of ONEOK worth $45,872,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Greenline Partners LLC bought a new stake in shares of ONEOK during the 4th quarter worth approximately $32,000. First Pacific Financial bought a new stake in shares of ONEOK during the first quarter worth $34,000. Vermillion Wealth Management Inc. bought a new position in shares of ONEOK in the fourth quarter worth about $37,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of ONEOK in the fourth quarter worth about $39,000. Finally, Rakuten Securities Inc. increased its stake in ONEOK by 152.1% in the 1st quarter. Rakuten Securities Inc. now owns 421 shares of the utilities provider's stock worth $42,000 after buying an additional 254 shares during the period. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have commented on the company. Stifel Nicolaus reduced their price objective on ONEOK from $110.00 to $107.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Barclays reduced their price target on shares of ONEOK from $101.00 to $91.00 and set an "equal weight" rating for the company in a report on Tuesday, June 3rd. Wells Fargo & Company dropped their target price on ONEOK from $102.00 to $93.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 1st. Citigroup decreased their price objective on ONEOK from $110.00 to $102.00 and set a "buy" rating for the company in a research note on Tuesday, May 6th. Finally, Scotiabank cut their target price on ONEOK from $96.00 to $93.00 and set a "sector outperform" rating on the stock in a research note on Thursday, June 5th. Six investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $104.67.

ONEOK Price Performance

Shares of OKE stock traded up $1.03 during midday trading on Wednesday, reaching $82.02. 3,055,873 shares of the company traded hands, compared to its average volume of 3,438,185. The firm's 50 day simple moving average is $82.50 and its two-hundred day simple moving average is $91.90. The firm has a market cap of $51.63 billion, a PE ratio of 16.02, a price-to-earnings-growth ratio of 1.59 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 1-year low of $75.48 and a 1-year high of $118.07.

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

ONEOK Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 5th were paid a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 5.02%. The ex-dividend date was Monday, May 5th. ONEOK's dividend payout ratio is currently 80.47%.

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.