Teacher Retirement System of Texas Reduces Stake in ONEOK, Inc. (NYSE:OKE)

Teacher Retirement System of Texas trimmed its position in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 91.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,467 shares of the utilities provider's stock after selling 59,623 shares during the quarter. Teacher Retirement System of Texas' holdings in ONEOK were worth $549,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of OKE. Kieckhefer Group LLC purchased a new stake in ONEOK during the fourth quarter valued at approximately $30,000. Canton Hathaway LLC purchased a new stake in ONEOK in the fourth quarter valued at about $40,000. J.Safra Asset Management Corp purchased a new position in shares of ONEOK in the 4th quarter valued at approximately $48,000. VSM Wealth Advisory LLC purchased a new stake in ONEOK during the 4th quarter worth approximately $50,000. Finally, OFI Invest Asset Management purchased a new position in shares of ONEOK in the fourth quarter worth $51,000. 69.13% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Wells Fargo & Company cut their target price on ONEOK from $107.00 to $102.00 and set an "equal weight" rating on the stock in a research report on Wednesday, February 26th. Morgan Stanley raised their price objective on ONEOK from $111.00 to $133.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 25th. Scotiabank dropped their target price on ONEOK from $109.00 to $102.00 and set a "sector outperform" rating on the stock in a research report on Thursday, March 6th. Barclays dropped their price objective on shares of ONEOK from $105.00 to $101.00 and set an "equal weight" rating on the stock in a report on Friday, March 7th. Finally, US Capital Advisors raised ONEOK from a "moderate buy" rating to a "strong-buy" rating in a report on Monday, February 3rd. 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's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $105.00.

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ONEOK Trading Down 6.8 %

ONEOK stock traded down $6.81 during trading on Thursday, reaching $93.56. 932,398 shares of the company were exchanged, compared to its average volume of 3,026,524. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. The stock's 50 day simple moving average is $97.80 and its two-hundred day simple moving average is $100.36. The company has a market capitalization of $58.42 billion, a P/E ratio of 19.67, a PEG ratio of 3.77 and a beta of 1.70. ONEOK, Inc. has a 52-week low of $76.23 and a 52-week high of $118.07.

ONEOK (NYSE:OKE - Get Free Report) last posted its earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.11. The company had revenue of $7 billion for the quarter, compared to analyst estimates of $6.18 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. On average, equities research analysts expect 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. Stockholders of record on Monday, February 3rd were issued a dividend of $1.03 per share. The ex-dividend date of this dividend was Monday, February 3rd. This is a boost from ONEOK's previous quarterly dividend of $0.99. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.40%. ONEOK's dividend payout ratio is currently 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.