Retirement Systems of Alabama Sells 2,035 Shares of ONEOK, Inc. (NYSE:OKE)

Retirement Systems of Alabama cut its holdings in ONEOK, Inc. (NYSE:OKE) by 1.6% during the 4th quarter, Holdings Channel reports. The fund owned 126,482 shares of the utilities provider’s stock after selling 2,035 shares during the period. Retirement Systems of Alabama’s holdings in ONEOK were worth $12,699,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. International Assets Investment Management LLC raised its holdings in ONEOK by 9,439.9% in the 3rd quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider’s stock worth $294,440,000 after purchasing an additional 3,197,121 shares during the period. Charles Schwab Investment Management Inc. increased its position in ONEOK by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 17,480,774 shares of the utilities provider’s stock worth $1,593,023,000 after buying an additional 661,854 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of ONEOK in the third quarter worth about $47,957,000. Yaupon Capital Management LP bought a new position in shares of ONEOK during the 3rd quarter valued at approximately $45,194,000. Finally, National Bank of Canada FI increased its holdings in ONEOK by 199.9% in the 3rd quarter. National Bank of Canada FI now owns 697,985 shares of the utilities provider’s stock worth $63,605,000 after acquiring an additional 465,243 shares in the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Price Performance

OKE stock opened at $95.75 on Friday. ONEOK, Inc. has a 52 week low of $68.21 and a 52 week high of $118.07. The firm has a market capitalization of $55.94 billion, a P/E ratio of 20.03, a price-to-earnings-growth ratio of 3.69 and a beta of 1.70. The company has a fifty day simple moving average of $103.28 and a two-hundred day simple moving average of $97.41. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59.

ONEOK Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Monday, February 3rd will be given a $1.03 dividend. The ex-dividend date is Monday, February 3rd. This represents a $4.12 annualized dividend and a yield of 4.30%. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio (DPR) is currently 82.85%.

Analysts Set New Price Targets

OKE has been the topic of several analyst reports. US Capital Advisors raised shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, February 3rd. Barclays assumed coverage on shares of ONEOK in a report on Thursday. They issued an “equal weight” rating and a $105.00 target price for the company. Truist Financial boosted their price objective on ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research report on Tuesday, December 3rd. Scotiabank began coverage on ONEOK in a research report on Friday, January 10th. They set a “sector outperform” rating and a $109.00 target price for the company. Finally, Mizuho raised ONEOK to a “hold” rating in a report on Thursday, November 7th. Seven analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, ONEOK has an average rating of “Moderate Buy” and a consensus target price of $103.42.

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.