Retirement Systems of Alabama Boosts Stock Holdings in ONEOK, Inc. (NYSE:OKE)

Retirement Systems of Alabama raised its holdings in ONEOK, Inc. (NYSE:OKE - Free Report) by 5.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 133,325 shares of the utilities provider's stock after purchasing an additional 6,843 shares during the period. Retirement Systems of Alabama's holdings in ONEOK were worth $13,229,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Greenline Partners LLC purchased a new position in shares of ONEOK in the fourth quarter worth about $32,000. Vermillion Wealth Management Inc. purchased a new position in ONEOK during the fourth quarter valued at approximately $37,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in ONEOK during the fourth quarter valued at approximately $39,000. Canton Hathaway LLC purchased a new position in ONEOK during the fourth quarter valued at approximately $40,000. Finally, Rakuten Securities Inc. grew its stake in ONEOK by 152.1% during the first quarter. Rakuten Securities Inc. now owns 421 shares of the utilities provider's stock valued at $42,000 after acquiring an additional 254 shares in the last quarter. Hedge funds and other institutional investors own 69.13% of the company's stock.

Analyst Upgrades and Downgrades

OKE has been the subject of several recent analyst reports. Morgan Stanley boosted their price objective on shares of ONEOK from $111.00 to $133.00 and gave the company an "overweight" rating in a research note on Tuesday, March 25th. 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. 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 dropped their target price on shares of ONEOK from $110.00 to $107.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Finally, Citigroup dropped their target price on shares of ONEOK from $110.00 to $102.00 and set a "buy" rating for the company in a research report on Tuesday, May 6th. Six analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $103.69.

ONEOK Stock Performance

ONEOK stock opened at $82.25 on Monday. The company has a current ratio of 0.67, a quick ratio of 0.52 and a debt-to-equity ratio of 1.35. The firm has a 50-day moving average of $83.00 and a 200-day moving average of $93.00. The firm has a market cap of $51.78 billion, a P/E ratio of 16.06, a P/E/G ratio of 1.61 and a beta of 0.94. 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 released its quarterly 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). ONEOK had a return on equity of 15.58% and a net margin of 12.15%. The company had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $8.23 billion. During the same period in the previous year, the company earned $1.09 earnings per share. Sell-side analysts expect that ONEOK, Inc. will post 5.07 EPS 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. This represents a $4.12 dividend on an annualized basis and a yield of 5.01%. The ex-dividend date of this dividend was Monday, May 5th. ONEOK's 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.