Employees Retirement System of Texas Buys Shares of 30,016 ONEOK, Inc. (NYSE:OKE)

Employees Retirement System of Texas bought a new stake in ONEOK, Inc. (NYSE:OKE - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 30,016 shares of the utilities provider's stock, valued at approximately $30,136,000.

Several other large investors have also modified their holdings of the stock. Kieckhefer Group LLC acquired a new position in shares of ONEOK in the 4th quarter worth approximately $30,000. Canton Hathaway LLC acquired a new position in ONEOK in the fourth quarter worth $40,000. J.Safra Asset Management Corp acquired a new position in ONEOK in the fourth quarter worth $48,000. VSM Wealth Advisory LLC acquired a new stake in shares of ONEOK during the fourth quarter worth $50,000. Finally, OFI Invest Asset Management bought a new position in shares of ONEOK in the 4th quarter worth about $51,000. Institutional investors own 69.13% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on OKE. Barclays lowered their price objective on shares of ONEOK from $105.00 to $101.00 and set an "equal weight" rating for the company in a research report on Friday, March 7th. US Capital Advisors upgraded ONEOK from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday, February 3rd. Scotiabank reduced their price objective on ONEOK from $109.00 to $102.00 and set a "sector outperform" rating for the company in a research report on Thursday, March 6th. Wolfe Research raised ONEOK from a "peer perform" rating to an "outperform" rating and set a $110.00 target price on the stock in a research report on Monday, February 10th. Finally, Morgan Stanley boosted their price target on shares of ONEOK from $111.00 to $133.00 and gave the company an "overweight" rating in a report on Tuesday, March 25th. Seven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $105.00.

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ONEOK Price Performance

ONEOK stock traded up $1.20 during midday trading on Friday, hitting $82.44. The company's stock had a trading volume of 3,777,706 shares, compared to its average volume of 3,159,477. ONEOK, Inc. has a 12 month low of $75.48 and a 12 month high of $118.07. The company has a market capitalization of $51.49 billion, a PE ratio of 17.25, a price-to-earnings-growth ratio of 3.77 and a beta of 1.20. The stock's 50-day moving average price is $94.64 and its 200-day moving average price is $99.59. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59.

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

ONEOK Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 5.00%. The ex-dividend date was Monday, February 3rd. This is an increase from ONEOK's previous quarterly dividend of $0.99. ONEOK's payout ratio is presently 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.