Maryland State Retirement & Pension System Sells 13,476 Shares of ONEOK, Inc. (NYSE:OKE)

Maryland State Retirement & Pension System lessened its stake in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 2.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 513,033 shares of the utilities provider's stock after selling 13,476 shares during the period. ONEOK accounts for 1.1% of Maryland State Retirement & Pension System's portfolio, making the stock its 13th largest holding. Maryland State Retirement & Pension System owned 0.09% of ONEOK worth $51,509,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. FNY Investment Advisers LLC grew its stake in shares of ONEOK by 14,279.1% in the fourth quarter. FNY Investment Advisers LLC now owns 22,000 shares of the utilities provider's stock worth $2,208,000 after acquiring an additional 21,847 shares during the last quarter. Kingswood Wealth Advisors LLC grew its stake in shares of ONEOK by 57.9% in the fourth quarter. Kingswood Wealth Advisors LLC now owns 14,506 shares of the utilities provider's stock worth $1,456,000 after acquiring an additional 5,321 shares during the last quarter. Fifth Third Wealth Advisors LLC grew its stake in shares of ONEOK by 222.3% in the third quarter. Fifth Third Wealth Advisors LLC now owns 16,181 shares of the utilities provider's stock worth $1,475,000 after acquiring an additional 11,160 shares during the last quarter. Simon Quick Advisors LLC acquired a new stake in shares of ONEOK in the fourth quarter worth $251,000. Finally, Rockefeller Capital Management L.P. grew its stake in shares of ONEOK by 1.9% in the third quarter. Rockefeller Capital Management L.P. now owns 275,137 shares of the utilities provider's stock worth $25,070,000 after acquiring an additional 5,067 shares during the last quarter. Institutional investors and hedge funds own 69.13% of the company's stock.

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ONEOK Price Performance

Shares of NYSE OKE traded down $1.20 during midday trading on Friday, reaching $99.45. 9,379,327 shares of the company traded hands, compared to its average volume of 2,859,821. The firm has a market cap of $62.09 billion, a PE ratio of 20.81, a PEG ratio of 3.77 and a beta of 1.70. The stock's 50-day simple moving average is $98.94 and its 200-day simple moving average is $99.86. ONEOK, Inc. has a 12 month low of $76.23 and a 12 month high of $118.07. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81.

ONEOK (NYSE:OKE - Get Free Report) last issued its quarterly earnings data on Monday, February 24th. The utilities provider reported $1.57 earnings per share (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 analysts' expectations of $6.18 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. As a group, equities analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were issued a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.14%. This is a boost from ONEOK's previous quarterly dividend of $0.99. The ex-dividend date was Monday, February 3rd. ONEOK's payout ratio is currently 79.69%.

Analysts Set New Price Targets

OKE has been the topic of several research analyst reports. Wells Fargo & Company lowered their price objective on shares of ONEOK from $107.00 to $102.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 26th. US Capital Advisors upgraded shares of ONEOK from a "moderate buy" rating to a "strong-buy" rating in a research note on Monday, February 3rd. Wolfe Research raised ONEOK from a "peer perform" rating to an "outperform" rating and set a $110.00 target price for the company in a research report on Monday, February 10th. Citigroup started coverage on ONEOK in a research report on Friday, February 28th. They issued a "buy" rating and a $110.00 target price for the company. Finally, Scotiabank reduced their target price 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. Seven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $103.31.

About ONEOK

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.