ONEOK, Inc. (NYSE:OKE) Shares Sold by State of Michigan Retirement System

State of Michigan Retirement System trimmed its stake in shares of ONEOK, Inc. (NYSE:OKE) by 0.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 158,581 shares of the utilities provider’s stock after selling 500 shares during the period. State of Michigan Retirement System’s holdings in ONEOK were worth $15,922,000 as of its most recent SEC filing.

A number of other hedge funds and 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 about $30,000. Canton Hathaway LLC acquired a new stake in shares of ONEOK during the fourth quarter valued at approximately $40,000. Access Investment Management LLC purchased a new stake in shares of ONEOK in the 3rd quarter valued at approximately $37,000. Versant Capital Management Inc boosted its stake in ONEOK by 98.1% in the 4th quarter. Versant Capital Management Inc now owns 525 shares of the utilities provider’s stock worth $53,000 after purchasing an additional 260 shares during the period. Finally, Sierra Ocean LLC purchased a new position in ONEOK during the 4th quarter worth approximately $58,000. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Trading Down 3.1 %

Shares of NYSE:OKE opened at $93.74 on Wednesday. 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 capitalization of $58.52 billion, a PE ratio of 19.61, a P/E/G ratio of 3.77 and a beta of 1.70. ONEOK, Inc. has a 1 year low of $76.23 and a 1 year high of $118.07. The firm has a fifty day moving average price of $100.66 and a 200 day moving average price of $99.40.

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

ONEOK Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were given a $1.03 dividend. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.40%. ONEOK’s dividend payout ratio (DPR) is currently 79.69%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on OKE. Wolfe Research upgraded ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 target price for the company in a report on Monday, February 10th. Scotiabank initiated coverage on ONEOK in a research report on Friday, January 10th. They set a “sector outperform” rating and a $109.00 price objective for the company. Wells Fargo & Company dropped their target price on ONEOK from $107.00 to $102.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 26th. Mizuho raised shares of ONEOK to a “hold” rating in a research report on Thursday, November 7th. Finally, UBS Group boosted their price objective on shares of ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Seven research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $104.15.

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.