State of Tennessee Treasury Department reduced its position in shares of ONEOK, Inc. (NYSE:OKE) by 27.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 709,028 shares of the utilities provider’s stock after selling 272,350 shares during the period. State of Tennessee Treasury Department’s holdings in ONEOK were worth $53,653,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the company. Steel Peak Wealth Management LLC acquired a new position in shares of ONEOK during the fourth quarter worth about $1,031,000. Secure Asset Management LLC acquired a new position in ONEOK during the fourth quarter valued at approximately $290,000. Pinnacle Financial Partners Inc. boosted its position in ONEOK by 9.3% during the fourth quarter. Pinnacle Financial Partners Inc. now owns 4,040 shares of the utilities provider’s stock valued at $306,000 after purchasing an additional 345 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its position in ONEOK by 22.5% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 38,962 shares of the utilities provider’s stock valued at $2,949,000 after purchasing an additional 7,168 shares during the last quarter. Finally, State Street Corp boosted its position in ONEOK by 9.0% during the fourth quarter. State Street Corp now owns 21,734,695 shares of the utilities provider’s stock valued at $1,644,664,000 after purchasing an additional 1,793,003 shares during the last quarter. 73.75% of the stock is owned by institutional investors.
Several research analysts recently commented on the company. Goldman Sachs Group raised ONEOK from a “neutral” rating to a “buy” rating and increased their price target for the company from $73.00 to $81.00 in a research report on Sunday, November 3rd. Morgan Stanley assumed coverage on ONEOK in a research report on Monday, January 6th. They set an “underweight” rating and a $63.00 price target for the company. Scotiabank assumed coverage on ONEOK in a research report on Tuesday, January 28th. They set a “sector outperform” rating and a $84.00 price target for the company. Raymond James reduced their price target on ONEOK from $74.00 to $73.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Finally, Wolfe Research cut ONEOK from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $75.60.
Shares of OKE traded up $0.76 during mid-day trading on Friday, reaching $76.98. The company’s stock had a trading volume of 1,387,007 shares, compared to its average volume of 1,826,361. ONEOK, Inc. has a 1-year low of $63.13 and a 1-year high of $77.26. The stock has a market cap of $31.37 billion, a P/E ratio of 25.66, a PEG ratio of 1.87 and a beta of 1.11. The business has a 50-day simple moving average of $75.77 and a two-hundred day simple moving average of $72.42. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 2.01.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Monday, January 27th will be given a $0.935 dividend. This represents a $3.74 dividend on an annualized basis and a dividend yield of 4.86%. This is a boost from ONEOK’s previous quarterly dividend of $0.92. The ex-dividend date of this dividend is Friday, January 24th. ONEOK’s dividend payout ratio (DPR) is presently 134.53%.
In other news, CAO Mary M. Spears sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $71.85, for a total value of $143,700.00. Following the completion of the sale, the chief accounting officer now directly owns 10,263 shares of the company’s stock, valued at $737,396.55. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Mark W. Helderman acquired 6,094 shares of the business’s stock in a transaction dated Tuesday, December 17th. The stock was acquired at an average cost of $73.36 per share, with a total value of $447,055.84. Company insiders own 0.60% of the company’s stock.
ONEOK, Inc, together with its subsidiaries, engages in the gathering, processing, storage, and transportation of natural gas in the United States. It operates through Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments. The company owns natural gas gathering pipelines and processing plants in the Mid-Continent and Rocky Mountain regions.
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