Commonwealth of Pennsylvania Public School Empls Retrmt SYS Sells 4,223 Shares of ONEOK, Inc. (NYSE:OKE)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS reduced its stake in ONEOK, Inc. (NYSE:OKE) by 0.4% during the 4th quarter, HoldingsChannel reports. The fund owned 971,083 shares of the utilities provider’s stock after selling 4,223 shares during the quarter. ONEOK comprises 0.6% of Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s investment portfolio, making the stock its 27th largest position. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in ONEOK were worth $97,497,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in OKE. Royal London Asset Management Ltd. boosted its position in shares of ONEOK by 7.6% during the fourth quarter. Royal London Asset Management Ltd. now owns 324,806 shares of the utilities provider’s stock worth $32,611,000 after buying an additional 23,009 shares during the period. Generali Investments Management Co LLC bought a new stake in ONEOK in the 4th quarter valued at approximately $485,000. GM Advisory Group LLC acquired a new position in ONEOK during the 4th quarter worth approximately $210,000. Harvest Fund Management Co. Ltd grew its stake in shares of ONEOK by 118.4% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 6,053 shares of the utilities provider’s stock worth $608,000 after acquiring an additional 3,281 shares in the last quarter. Finally, SageOak Financial LLC acquired a new stake in shares of ONEOK in the fourth quarter valued at approximately $1,556,000. 69.13% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Citigroup began coverage on shares of ONEOK in a report on Friday, February 28th. They set a “buy” rating and a $110.00 target price for the company. US Capital Advisors upgraded ONEOK from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, February 3rd. Wells Fargo & Company dropped their target price on ONEOK from $107.00 to $102.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 26th. Truist Financial increased their price target on ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research report on Tuesday, December 3rd. Finally, Barclays lowered their price target on ONEOK from $105.00 to $101.00 and set an “equal weight” rating on the stock in a research report on Friday, March 7th. Seven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $103.31.

ONEOK Trading Up 2.2 %

OKE stock opened at $100.12 on Thursday. ONEOK, Inc. has a one year low of $76.23 and a one year high of $118.07. The stock has a market cap of $62.51 billion, a price-to-earnings ratio of 20.95, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70. The company has a fifty day moving average price of $99.03 and a two-hundred day moving average price of $99.75. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59.

ONEOK (NYSE:OKE) last announced its earnings results on Monday, February 24th. The utilities provider reported $1.57 EPS for the quarter, topping the consensus estimate of $1.46 by $0.11. The business had revenue of $7 billion during the quarter, compared to the consensus estimate of $6.18 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. Equities analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were paid a dividend of $1.03 per share. The ex-dividend date was Monday, February 3rd. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.11%. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio (DPR) is 79.69%.

ONEOK 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.