ONEOK, Inc. (NYSE:OKE) Shares Acquired by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky lifted its stake in ONEOK, Inc. (NYSE:OKE - Free Report) by 78.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 584,790 shares of the utilities provider's stock after purchasing an additional 257,550 shares during the quarter. ONEOK comprises about 0.5% of Teachers Retirement System of The State of Kentucky's portfolio, making the stock its 25th largest holding. Teachers Retirement System of The State of Kentucky owned about 0.09% of ONEOK worth $58,023,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of OKE. Greenline Partners LLC acquired a new position in ONEOK in the 4th quarter worth approximately $32,000. First Pacific Financial acquired a new position in ONEOK in the 1st quarter worth approximately $34,000. Vermillion Wealth Management Inc. acquired a new stake in shares of ONEOK during the 4th quarter worth approximately $37,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of ONEOK during the 4th quarter worth approximately $39,000. Finally, MorganRosel Wealth Management LLC acquired a new stake in shares of ONEOK during the 1st quarter worth approximately $39,000. 69.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on OKE shares. Citigroup dropped their price objective on shares of ONEOK from $110.00 to $102.00 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. Stifel Nicolaus decreased their target price on ONEOK from $110.00 to $107.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Raymond James Financial decreased their target price on ONEOK from $115.00 to $110.00 and set an "outperform" rating on the stock in a research report on Tuesday. Scotiabank set a $92.00 target price on ONEOK and gave the company a "sector outperform" rating in a research report on Tuesday, July 15th. Finally, Barclays decreased their target price on ONEOK from $101.00 to $91.00 and set an "equal weight" rating on the stock in a research report on Tuesday, June 3rd. Six research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, ONEOK has a consensus rating of "Moderate Buy" and an average target price of $103.53.

ONEOK Trading Up 0.5%

Shares of NYSE:OKE traded up $0.42 during midday trading on Tuesday, reaching $80.80. 1,675,912 shares of the company's stock were exchanged, compared to its average volume of 3,486,334. The firm's 50 day simple moving average is $81.97 and its two-hundred day simple moving average is $90.06. 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 cap of $50.87 billion, a price-to-earnings ratio of 15.78, a P/E/G ratio of 1.94 and a beta of 0.93. 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 released its earnings results on Tuesday, April 29th. The utilities provider reported $1.04 earnings per share for the quarter, missing the consensus estimate of $1.28 by ($0.24). ONEOK had a net margin of 12.15% and a return on equity of 15.58%. The firm had revenue of $6.49 billion during the quarter, compared to analyst estimates of $8.23 billion. During the same period in the prior year, the firm earned $1.09 earnings per share. As a group, sell-side analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Friday, August 1st will be paid a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 5.10%. The ex-dividend date of this dividend is Friday, August 1st. ONEOK's payout ratio is 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.