Retirement Systems of Alabama Has $11.71 Million Stake in ONEOK, Inc. (NYSE:OKE)

Retirement Systems of Alabama reduced its holdings in ONEOK, Inc. (NYSE:OKE) by 0.2% during the 3rd quarter, Holdings Channel reports. The fund owned 128,517 shares of the utilities provider’s stock after selling 229 shares during the quarter. Retirement Systems of Alabama’s holdings in ONEOK were worth $11,712,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Matrix Trust Co bought a new position in ONEOK in the 3rd quarter valued at $29,000. Quest Partners LLC acquired a new stake in shares of ONEOK in the second quarter valued at $28,000. Ridgewood Investments LLC bought a new position in shares of ONEOK in the second quarter valued at about $31,000. Access Investment Management LLC acquired a new position in ONEOK during the 3rd quarter worth about $37,000. Finally, Values First Advisors Inc. bought a new stake in ONEOK during the 3rd quarter worth about $44,000. 69.13% of the stock is currently owned by institutional investors.

ONEOK Stock Down 1.1 %

Shares of NYSE OKE opened at $102.84 on Tuesday. The firm has a 50 day moving average price of $103.70 and a 200 day moving average price of $92.09. 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 stock has a market cap of $60.07 billion, a P/E ratio of 21.51, a P/E/G ratio of 5.24 and a beta of 1.69. ONEOK, Inc. has a 52-week low of $67.05 and a 52-week high of $118.07.

ONEOK (NYSE:OKE) last released its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). The firm had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $5.81 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. During the same quarter in the prior year, the company earned $0.99 EPS. Analysts expect that ONEOK, Inc. will post 5.1 EPS for the current year.

ONEOK Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 1st were issued a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a dividend yield of 3.85%. The ex-dividend date was Friday, November 1st. ONEOK’s dividend payout ratio (DPR) is presently 82.85%.

Analyst Ratings Changes

A number of equities analysts have weighed in on OKE shares. Mizuho raised shares of ONEOK to a “hold” rating in a research note on Thursday, November 7th. Morgan Stanley upgraded shares of ONEOK from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $103.00 to $111.00 in a research report on Monday, September 16th. UBS Group increased their price objective on ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Bank of America began coverage on ONEOK in a research report on Thursday, October 17th. They set a “buy” rating and a $105.00 target price for the company. Finally, Scotiabank upped their price target on ONEOK from $88.00 to $102.00 and gave the company a “sector outperform” rating in a research note on Friday, August 30th. Seven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, ONEOK has an average rating of “Moderate Buy” and a consensus price target of $101.00.

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.