Arizona State Retirement System Purchases 2,431 Shares of ONEOK, Inc. (NYSE:OKE)

Arizona State Retirement System lifted its position in shares of ONEOK, Inc. (NYSE:OKE) by 1.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 169,645 shares of the utilities provider’s stock after acquiring an additional 2,431 shares during the quarter. Arizona State Retirement System’s holdings in ONEOK were worth $17,032,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Aigen Investment Management LP bought a new stake in shares of ONEOK during the fourth quarter worth $1,805,000. Proficio Capital Partners LLC bought a new stake in shares of ONEOK during the fourth quarter worth $258,000. Cbre Investment Management Listed Real Assets LLC bought a new stake in shares of ONEOK during the fourth quarter worth $34,360,000. SPC Financial Inc. raised its position in shares of ONEOK by 5.7% during the fourth quarter. SPC Financial Inc. now owns 31,245 shares of the utilities provider’s stock worth $3,137,000 after acquiring an additional 1,684 shares during the last quarter. Finally, M&T Bank Corp raised its position in shares of ONEOK by 5.2% during the fourth quarter. M&T Bank Corp now owns 153,556 shares of the utilities provider’s stock worth $15,416,000 after acquiring an additional 7,635 shares during the last quarter. Institutional investors own 69.13% of the company’s stock.

ONEOK Stock Down 2.0 %

NYSE:OKE opened at $91.95 on Thursday. ONEOK, Inc. has a 1 year low of $76.23 and a 1 year high of $118.07. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. The stock has a market cap of $57.40 billion, a price-to-earnings ratio of 19.24, a PEG ratio of 3.77 and a beta of 1.70. The stock has a 50-day moving average price of $100.45 and a two-hundred day moving average price of $99.34.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Monday, February 24th. The utilities provider reported $1.57 earnings per share for the quarter, topping the consensus estimate 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 expect that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were given a dividend of $1.03 per share. This is a boost from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 annualized dividend and a dividend yield of 4.48%. The ex-dividend date was Monday, February 3rd. ONEOK’s dividend payout ratio is currently 79.69%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on OKE shares. Scotiabank started coverage on ONEOK in a report on Friday, January 10th. They issued a “sector outperform” rating and a $109.00 price objective for the company. Citigroup started coverage on ONEOK in a report on Friday, February 28th. They issued a “buy” rating and a $110.00 price objective for the company. Truist Financial upped their price objective on ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a report on Tuesday, December 3rd. UBS Group upped their price objective on ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a report on Friday, November 15th. Finally, Wolfe Research upgraded ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price objective for the company in a report on Monday, February 10th. Seven equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $104.15.

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.