California State Teachers Retirement System Purchases 747,824 Shares of ONEOK, Inc. (NYSE:OKE)

California State Teachers Retirement System lifted its position in shares of ONEOK, Inc. (NYSE:OKE) by 52.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,182,296 shares of the utilities provider’s stock after purchasing an additional 747,824 shares during the period. California State Teachers Retirement System owned about 0.35% of ONEOK worth $219,103,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in ONEOK by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 70,120,264 shares of the utilities provider’s stock valued at $7,040,075,000 after acquiring an additional 558,789 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in ONEOK by 5.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 18,414,781 shares of the utilities provider’s stock valued at $1,848,844,000 after purchasing an additional 934,007 shares during the period. Geode Capital Management LLC raised its position in ONEOK by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 14,037,890 shares of the utilities provider’s stock worth $1,405,697,000 after purchasing an additional 357,015 shares during the last quarter. Northern Trust Corp lifted its holdings in ONEOK by 15.2% during the 4th quarter. Northern Trust Corp now owns 6,535,861 shares of the utilities provider’s stock worth $656,200,000 after buying an additional 864,392 shares during the period. Finally, Norges Bank acquired a new position in shares of ONEOK in the fourth quarter worth approximately $539,554,000. Institutional investors and hedge funds own 69.13% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on OKE. Wells Fargo & Company lowered their price target on shares of ONEOK from $107.00 to $102.00 and set an “equal weight” rating for the company in a report on Wednesday, February 26th. Wolfe Research raised shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 target price for the company in a research note on Monday, February 10th. Scotiabank cut their price target on shares of 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 lowered their price objective on ONEOK from $105.00 to $101.00 and set an “equal weight” rating for the company in a research report on Friday, March 7th. Finally, US Capital Advisors upgraded ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, February 3rd. Seven analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, ONEOK presently has an average rating of “Moderate Buy” and an average target price of $106.42.

ONEOK Trading Up 0.1 %

Shares of ONEOK stock opened at $86.38 on Monday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. ONEOK, Inc. has a 52 week low of $75.48 and a 52 week high of $118.07. The stock has a 50 day moving average price of $92.03 and a two-hundred day moving average price of $99.05. The stock has a market capitalization of $53.95 billion, a PE ratio of 18.07, a price-to-earnings-growth ratio of 3.77 and a beta of 1.20.

ONEOK (NYSE:OKE) last released 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 firm had revenue of $7 billion for the quarter, compared to the consensus estimate of $6.18 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. As a group, equities analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Monday, May 5th will be issued a $1.03 dividend. The ex-dividend date is Monday, May 5th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.77%. ONEOK’s dividend payout ratio is presently 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.