California Public Employees Retirement System Decreases Stake in ONEOK, Inc. (NYSE:OKE)

California Public Employees Retirement System lessened its stake in ONEOK, Inc. (NYSE:OKE - Free Report) by 6.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 977,622 shares of the utilities provider's stock after selling 68,878 shares during the quarter. California Public Employees Retirement System owned approximately 0.17% of ONEOK worth $98,153,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Kieckhefer Group LLC purchased a new stake in shares of ONEOK during the fourth quarter worth about $30,000. Canton Hathaway LLC purchased a new stake in ONEOK during the 4th quarter worth approximately $40,000. J.Safra Asset Management Corp acquired a new position in shares of ONEOK during the fourth quarter valued at approximately $48,000. VSM Wealth Advisory LLC purchased a new position in shares of ONEOK in the fourth quarter valued at approximately $50,000. Finally, OFI Invest Asset Management acquired a new stake in shares of ONEOK in the fourth quarter worth approximately $51,000. 69.13% of the stock is currently owned by institutional investors and hedge funds.

ONEOK Trading Up 1.0 %

Shares of NYSE OKE traded up $1.01 during trading on Wednesday, reaching $100.51. The stock had a trading volume of 2,148,611 shares, compared to its average volume of 3,033,153. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. The company has a market cap of $62.75 billion, a P/E ratio of 21.03, a PEG ratio of 3.77 and a beta of 1.70. ONEOK, Inc. has a fifty-two week low of $76.23 and a fifty-two week high of $118.07. The business's 50-day moving average price is $97.80 and its 200-day moving average price is $100.36.

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ONEOK (NYSE:OKE - Get Free Report) last issued its quarterly earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.46 by $0.11. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The company had revenue of $7 billion for the quarter, compared to analyst estimates of $6.18 billion. On average, equities research analysts predict that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were given a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 4.10%. The ex-dividend date was Monday, February 3rd. This is a boost from ONEOK's previous quarterly dividend of $0.99. ONEOK's dividend payout ratio (DPR) is currently 79.69%.

Wall Street Analyst Weigh In

OKE has been the topic of several recent research reports. Citigroup began coverage on shares of ONEOK in a research note on Friday, February 28th. They set a "buy" rating and a $110.00 target price on the stock. Barclays lowered their price target on shares of ONEOK from $105.00 to $101.00 and set an "equal weight" rating on the stock in a research report on Friday, March 7th. Wells Fargo & Company dropped their target price on ONEOK from $107.00 to $102.00 and set an "equal weight" rating for the company in a report on Wednesday, February 26th. Truist Financial raised their price objective on shares of ONEOK from $99.00 to $107.00 and gave the stock a "hold" rating in a research report on Tuesday, December 3rd. Finally, Wolfe Research upgraded shares of 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. Seven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, ONEOK presently has a consensus rating of "Moderate Buy" and a consensus price target of $105.00.

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.