Public Employees Retirement System of Ohio Sells 11,478 Shares of ONEOK, Inc. (NYSE:OKE)

Public Employees Retirement System of Ohio decreased its stake in ONEOK, Inc. (NYSE:OKE - Free Report) by 5.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 200,497 shares of the utilities provider's stock after selling 11,478 shares during the quarter. Public Employees Retirement System of Ohio's holdings in ONEOK were worth $20,130,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of OKE. Norges Bank acquired a new position in shares of ONEOK in the 4th quarter valued at $539,554,000. Wellington Management Group LLP boosted its position in shares of ONEOK by 433.4% in the 4th 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 boosted its position in shares of ONEOK by 240.5% in the 4th 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. purchased a new stake in ONEOK in the 4th quarter worth about $182,694,000. Finally, ClearBridge Investments Ltd purchased a new stake in ONEOK in the 4th quarter worth about $177,045,000. Institutional investors and hedge funds own 69.13% of the company's stock.

ONEOK Price Performance

OKE stock traded down $1.17 during trading on Wednesday, hitting $80.57. The company had a trading volume of 3,570,039 shares, compared to its average volume of 3,284,841. The company has a fifty day moving average price of $86.50 and a two-hundred day moving average price of $96.85. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. The company has a market cap of $50.32 billion, a P/E ratio of 16.85, a P/E/G ratio of 3.77 and a beta of 1.01. ONEOK, Inc. has a fifty-two week low of $75.48 and a fifty-two week high of $118.07.

ONEOK (NYSE:OKE - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The utilities provider reported $1.04 EPS for the quarter, missing the consensus estimate of $1.28 by ($0.24). The company had revenue of $6.49 billion during the quarter, compared to analyst estimates of $8.23 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. During the same period in the prior year, the firm earned $1.09 EPS. Equities research analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 5th were given a $1.03 dividend. The ex-dividend date was Monday, May 5th. This represents a $4.12 annualized dividend and a yield of 5.11%. ONEOK's payout ratio is 80.47%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on OKE. Citigroup reduced 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. Stifel Nicolaus cut their price target on ONEOK from $110.00 to $107.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. US Capital Advisors raised ONEOK from a "moderate buy" rating to a "strong-buy" rating in a research note on Monday, February 3rd. Scotiabank lowered their target price on ONEOK from $100.00 to $96.00 and set a "sector outperform" rating on the stock in a report on Tuesday, May 20th. Finally, Wolfe Research raised ONEOK from a "peer perform" rating to an "outperform" rating and set a $110.00 target price on the stock in a report on Monday, February 10th. Six investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, ONEOK currently has an average rating of "Moderate Buy" and an average target price of $104.69.

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.