State Board of Administration of Florida Retirement System reduced its stake in shares of ONEOK, Inc. (NYSE:OKE) by 1.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 517,564 shares of the utilities provider’s stock after selling 9,308 shares during the quarter. State Board of Administration of Florida Retirement System owned about 0.13% of ONEOK worth $35,614,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of OKE. Dimensional Fund Advisors LP grew its stake in ONEOK by 39.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,650,200 shares of the utilities provider’s stock worth $89,021,000 after purchasing an additional 465,583 shares during the period. Geode Capital Management LLC grew its stake in ONEOK by 8.4% during the fourth quarter. Geode Capital Management LLC now owns 5,334,493 shares of the utilities provider’s stock worth $287,526,000 after purchasing an additional 415,385 shares during the period. Pennsylvania Trust Co grew its stake in ONEOK by 6.2% during the first quarter. Pennsylvania Trust Co now owns 11,058 shares of the utilities provider’s stock worth $772,000 after purchasing an additional 650 shares during the period. Strs Ohio grew its stake in ONEOK by 8.3% during the first quarter. Strs Ohio now owns 5,226 shares of the utilities provider’s stock worth $364,000 after purchasing an additional 400 shares during the period. Finally, Winslow Evans & Crocker Inc. grew its stake in ONEOK by 121.2% during the first quarter. Winslow Evans & Crocker Inc. now owns 3,924 shares of the utilities provider’s stock worth $276,000 after purchasing an additional 2,150 shares during the period. Institutional investors own 74.05% of the company’s stock.

OKE has been the subject of several recent analyst reports. Citigroup raised their target price on ONEOK from $67.00 to $77.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Zacks Investment Research cut ONEOK from a “buy” rating to a “hold” rating in a research note on Monday, May 20th. Argus raised their price objective on ONEOK to $82.00 and gave the company an “average” rating in a research note on Tuesday, August 6th. UBS Group raised ONEOK from a “neutral” rating to a “buy” rating and raised their price objective for the company from $69.00 to $75.00 in a research note on Monday, August 12th. Finally, Credit Suisse Group raised their price objective on ONEOK from $70.00 to $72.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Twelve research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $72.37.

ONEOK stock traded down $0.16 during mid-day trading on Thursday, reaching $71.02. 97,455 shares of the company’s stock were exchanged, compared to its average volume of 2,200,429. The business’s fifty day simple moving average is $69.49 and its 200 day simple moving average is $67.85. The firm has a market capitalization of $29.28 billion, a PE ratio of 25.55, a P/E/G ratio of 1.99 and a beta of 1.17. ONEOK, Inc. has a one year low of $50.26 and a one year high of $72.38. The company has a quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 1.70.

ONEOK (NYSE:OKE) last issued its quarterly earnings results on Tuesday, July 30th. The utilities provider reported $0.75 EPS for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.04. The business had revenue of $2.46 billion for the quarter, compared to analyst estimates of $2.87 billion. ONEOK had a return on equity of 19.30% and a net margin of 10.67%. ONEOK’s quarterly revenue was down 17.0% compared to the same quarter last year. During the same period last year, the company posted $0.68 earnings per share. On average, sell-side analysts forecast that ONEOK, Inc. will post 3.09 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Tuesday, August 6th were issued a dividend of $0.89 per share. This is a positive change from ONEOK’s previous quarterly dividend of $0.87. This represents a $3.56 dividend on an annualized basis and a yield of 5.01%. The ex-dividend date of this dividend was Monday, August 5th. ONEOK’s dividend payout ratio (DPR) is 128.06%.

ONEOK Profile

ONEOK, Inc, together with its subsidiaries, engages in the gathering, processing, storage, and transportation of natural gas in the United States. It operates through Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments. The company owns natural gas gathering pipelines and processing plants in the Mid-Continent and Rocky Mountain regions.

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Institutional Ownership by Quarter for ONEOK (NYSE:OKE)

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