ONEOK, Inc. (NYSE:OKE) Shares Acquired by Teacher Retirement System of Texas

Teacher Retirement System of Texas raised its position in ONEOK, Inc. (NYSE:OKE - Free Report) by 2,087.0% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 119,561 shares of the utilities provider's stock after acquiring an additional 114,094 shares during the period. Teacher Retirement System of Texas' holdings in ONEOK were worth $11,863,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in OKE. Norges Bank acquired a new stake in shares of ONEOK in the 4th quarter worth $539,554,000. Wellington Management Group LLP lifted its stake in shares of ONEOK by 433.4% in the fourth quarter. Wellington Management Group LLP now owns 4,206,906 shares of the utilities provider's stock valued at $422,373,000 after purchasing an additional 3,418,207 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of ONEOK by 240.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,790,760 shares of the utilities provider's stock valued at $280,194,000 after purchasing an additional 1,971,147 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of ONEOK in the fourth quarter valued at about $182,694,000. Finally, ClearBridge Investments Ltd acquired a new stake in shares of ONEOK in the fourth quarter valued at about $177,045,000. Institutional investors and hedge funds own 69.13% of the company's stock.

ONEOK Price Performance

OKE traded down $0.42 during midday trading on Friday, reaching $81.73. 1,757,598 shares of the company's stock were exchanged, compared to its average volume of 3,447,486. The business's 50-day moving average price is $82.27 and its 200 day moving average price is $91.50. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.67 and a quick ratio of 0.52. The stock has a market capitalization of $51.45 billion, a PE ratio of 15.96, a P/E/G ratio of 1.61 and a beta of 0.93. 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 posted its quarterly earnings data 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). The firm had revenue of $6.49 billion during 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 period in the prior year, the firm earned $1.09 EPS. As a group, equities analysts anticipate 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 given a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 5.04%. The ex-dividend date was Monday, May 5th. ONEOK's dividend payout ratio is presently 80.47%.

Analysts Set New Price Targets

Several analysts recently commented on OKE shares. Scotiabank reduced their price objective on shares of ONEOK from $96.00 to $93.00 and set a "sector outperform" rating for the company in a research note on Thursday, June 5th. Barclays reduced their price objective on shares of ONEOK from $101.00 to $91.00 and set an "equal weight" rating for the company in a research note on Tuesday, June 3rd. Wells Fargo & Company reduced 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 note on Thursday, May 1st. Stifel Nicolaus reduced their price objective on shares of ONEOK from $110.00 to $107.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Finally, Citigroup reduced their price objective on shares of ONEOK from $110.00 to $102.00 and set a "buy" rating for the company in a research note on Tuesday, May 6th. Six research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $104.08.

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.