Public Employees Retirement Association of Colorado Has $5.99 Million Stock Position in ONEOK, Inc. (NYSE:OKE)

Public Employees Retirement Association of Colorado reduced its position in ONEOK, Inc. (NYSE:OKE) by 1.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 59,660 shares of the utilities provider’s stock after selling 948 shares during the period. Public Employees Retirement Association of Colorado’s holdings in ONEOK were worth $5,990,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Kieckhefer Group LLC acquired a new stake in shares of ONEOK in the 4th quarter valued at $30,000. Canton Hathaway LLC acquired a new stake in shares of ONEOK in the 4th quarter valued at $40,000. J.Safra Asset Management Corp acquired a new stake in shares of ONEOK in the 4th quarter valued at $48,000. VSM Wealth Advisory LLC acquired a new stake in shares of ONEOK in the 4th quarter valued at $50,000. Finally, OFI Invest Asset Management bought a new position in shares of ONEOK in the 4th quarter worth $51,000. 69.13% of the stock is owned by institutional investors and hedge funds.

ONEOK Stock Performance

OKE opened at $87.85 on Tuesday. 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 business’s 50-day simple moving average is $91.81 and its 200 day simple moving average is $98.99. The firm has a market capitalization of $54.88 billion, a PE ratio of 18.38, a PEG ratio of 3.77 and a beta of 1.20. ONEOK, Inc. has a 52-week low of $75.48 and a 52-week high of $118.07.

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

ONEOK Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Monday, May 5th will be paid a $1.03 dividend. The ex-dividend date is Monday, May 5th. This represents a $4.12 annualized dividend and a dividend yield of 4.69%. ONEOK’s dividend payout ratio is presently 79.69%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on OKE. Morgan Stanley raised their price target on ONEOK from $111.00 to $133.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 25th. Wolfe Research upgraded ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price target on the stock in a research report on Monday, February 10th. US Capital Advisors upgraded ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, February 3rd. Wells Fargo & Company reduced their price target 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. Finally, Citigroup initiated coverage on ONEOK in a report on Friday, February 28th. They set a “buy” rating and a $110.00 target price on the stock. Seven research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $106.42.

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.