State of Alaska Department of Revenue Sells 2,125 Shares of ONEOK, Inc. (NYSE:OKE)

State of Alaska Department of Revenue reduced its stake in ONEOK, Inc. (NYSE:OKE) by 2.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 70,246 shares of the utilities provider’s stock after selling 2,125 shares during the quarter. State of Alaska Department of Revenue’s holdings in ONEOK were worth $5,631,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of OKE. Massmutual Trust Co. FSB ADV increased its holdings in shares of ONEOK by 4.7% during the first quarter. Massmutual Trust Co. FSB ADV now owns 3,199 shares of the utilities provider’s stock worth $256,000 after purchasing an additional 144 shares during the period. Presima Securities ULC boosted its position in shares of ONEOK by 1.7% during the 4th quarter. Presima Securities ULC now owns 9,100 shares of the utilities provider’s stock worth $639,000 after acquiring an additional 150 shares in the last quarter. FourThought Financial Partners LLC boosted its position in shares of ONEOK by 3.8% during the 4th quarter. FourThought Financial Partners LLC now owns 4,386 shares of the utilities provider’s stock worth $308,000 after acquiring an additional 161 shares in the last quarter. Cooper Financial Group boosted its position in shares of ONEOK by 1.8% during the 1st quarter. Cooper Financial Group now owns 10,257 shares of the utilities provider’s stock worth $822,000 after acquiring an additional 182 shares in the last quarter. Finally, Monarch Capital Management Inc. boosted its position in shares of ONEOK by 1.2% during the 4th quarter. Monarch Capital Management Inc. now owns 15,573 shares of the utilities provider’s stock worth $1,094,000 after acquiring an additional 183 shares in the last quarter. 69.13% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on OKE shares. Morgan Stanley increased their price target on shares of ONEOK from $90.00 to $93.00 and gave the stock an “equal weight” rating in a research report on Monday, June 10th. Barclays increased their price target on shares of ONEOK from $73.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 7th. Mizuho increased their price target on shares of ONEOK from $75.00 to $81.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 20th. Stifel Nicolaus increased their price target on shares of ONEOK from $81.00 to $88.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Finally, Wells Fargo & Company raised their target price on shares of ONEOK from $81.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $84.50.

ONEOK Price Performance

Shares of NYSE:OKE opened at $82.82 on Thursday. The firm has a market cap of $48.34 billion, a PE ratio of 19.26, a price-to-earnings-growth ratio of 4.41 and a beta of 1.65. The firm’s fifty day moving average is $80.23 and its 200-day moving average is $76.07. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.48 and a current ratio of 0.70. ONEOK, Inc. has a 52 week low of $60.52 and a 52 week high of $83.31.

ONEOK (NYSE:OKE) last issued its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.03. The company had revenue of $4.78 billion for the quarter, compared to analyst estimates of $5.84 billion. ONEOK had a net margin of 12.54% and a return on equity of 15.94%. During the same quarter in the previous year, the business earned $2.34 earnings per share. Sell-side analysts predict that ONEOK, Inc. will post 4.95 earnings per share for the current year.

ONEOK Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st were issued a dividend of $0.99 per share. The ex-dividend date of this dividend was Tuesday, April 30th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 4.78%. ONEOK’s dividend payout ratio (DPR) is presently 92.09%.

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.