Kentucky Retirement Systems Insurance Trust Fund Grows Position in ONEOK, Inc. (NYSE:OKE)

Kentucky Retirement Systems Insurance Trust Fund lifted its position in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 146.9% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 18,033 shares of the utilities provider's stock after buying an additional 10,728 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund's holdings in ONEOK were worth $1,789,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Mindset Wealth Management LLC boosted its holdings in ONEOK by 0.7% in the fourth quarter. Mindset Wealth Management LLC now owns 16,114 shares of the utilities provider's stock valued at $1,618,000 after acquiring an additional 106 shares during the last quarter. Marcum Wealth LLC boosted its holdings in ONEOK by 1.1% in the first quarter. Marcum Wealth LLC now owns 10,250 shares of the utilities provider's stock valued at $1,017,000 after acquiring an additional 108 shares during the last quarter. 1620 Investment Advisors Inc. boosted its holdings in ONEOK by 1.9% in the fourth quarter. 1620 Investment Advisors Inc. now owns 5,880 shares of the utilities provider's stock valued at $590,000 after acquiring an additional 112 shares during the last quarter. West Paces Advisors Inc. boosted its holdings in ONEOK by 4.7% in the fourth quarter. West Paces Advisors Inc. now owns 2,527 shares of the utilities provider's stock valued at $254,000 after acquiring an additional 114 shares during the last quarter. Finally, Morey & Quinn Wealth Partners LLC boosted its holdings in ONEOK by 0.8% in the first quarter. Morey & Quinn Wealth Partners LLC now owns 15,722 shares of the utilities provider's stock valued at $1,560,000 after acquiring an additional 130 shares during the last quarter. Institutional investors and hedge funds own 69.13% of the company's stock.

Analyst Upgrades and Downgrades

OKE has been the topic of several analyst reports. Wells Fargo & Company reduced their target price on ONEOK from $102.00 to $93.00 and set an "equal weight" rating on the stock in a report on Thursday, May 1st. Citigroup dropped their price target on ONEOK from $110.00 to $102.00 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. Scotiabank dropped their price target 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. Barclays dropped their price target on ONEOK from $101.00 to $91.00 and set an "equal weight" rating on the stock in a research note on Tuesday, June 3rd. Finally, Morgan Stanley boosted their price target on ONEOK from $111.00 to $133.00 and gave the company an "overweight" rating in a research note on Tuesday, March 25th. Six analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $103.69.

ONEOK Stock Down 2.9%

Shares of NYSE:OKE traded down $2.41 during trading on Monday, reaching $79.96. 4,193,378 shares of the stock were exchanged, compared to its average volume of 3,410,365. 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. The stock has a fifty day moving average of $82.93 and a two-hundred day moving average of $92.79. The firm has a market cap of $50.34 billion, a price-to-earnings ratio of 15.62, a price-to-earnings-growth ratio of 1.61 and a beta of 0.94.

ONEOK (NYSE:OKE - Get Free Report) last issued its earnings results on Tuesday, April 29th. The utilities provider reported $1.04 earnings per share for the quarter, missing analysts' consensus estimates of $1.28 by ($0.24). ONEOK had a return on equity of 15.58% and a net margin of 12.15%. The firm had revenue of $6.49 billion for the quarter, compared to analyst estimates of $8.23 billion. During the same period in the previous year, the company earned $1.09 earnings per share. Research analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal 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 given a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 5.15%. The ex-dividend date was Monday, May 5th. ONEOK's payout ratio is currently 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.