State of New Jersey Common Pension Fund D Has $22.79 Million Holdings in ONEOK, Inc. (NYSE:OKE)

State of New Jersey Common Pension Fund D lifted its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 31.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 324,567 shares of the utilities provider’s stock after purchasing an additional 77,933 shares during the period. State of New Jersey Common Pension Fund D owned 0.06% of ONEOK worth $22,791,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of OKE. State of Alaska Department of Revenue increased its stake in ONEOK by 20.3% in the third quarter. State of Alaska Department of Revenue now owns 76,601 shares of the utilities provider’s stock valued at $4,857,000 after purchasing an additional 12,905 shares in the last quarter. DAVENPORT & Co LLC increased its stake in ONEOK by 67.9% in the third quarter. DAVENPORT & Co LLC now owns 39,121 shares of the utilities provider’s stock valued at $2,483,000 after purchasing an additional 15,819 shares in the last quarter. Meridian Wealth Management LLC increased its position in shares of ONEOK by 169.5% during the third quarter. Meridian Wealth Management LLC now owns 14,142 shares of the utilities provider’s stock worth $897,000 after acquiring an additional 8,894 shares in the last quarter. Private Trust Co. NA increased its position in shares of ONEOK by 65.4% during the third quarter. Private Trust Co. NA now owns 6,118 shares of the utilities provider’s stock worth $388,000 after acquiring an additional 2,418 shares in the last quarter. Finally, Capital Asset Advisory Services LLC increased its position in shares of ONEOK by 4.5% during the third quarter. Capital Asset Advisory Services LLC now owns 4,943 shares of the utilities provider’s stock worth $333,000 after acquiring an additional 213 shares in the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

Insider Transactions at ONEOK

In related news, Director Wayne Thomas Smith purchased 2,700 shares of ONEOK stock in a transaction on Friday, March 1st. The shares were bought at an average price of $75.25 per share, with a total value of $203,175.00. Following the transaction, the director now directly owns 2,700 shares of the company’s stock, valued at $203,175. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.20% of the company’s stock.

ONEOK Trading Up 0.5 %

NYSE OKE traded up $0.43 on Thursday, hitting $81.38. 2,076,352 shares of the stock were exchanged, compared to its average volume of 2,992,246. ONEOK, Inc. has a 52-week low of $55.91 and a 52-week high of $81.81. The firm has a market capitalization of $47.50 billion, a P/E ratio of 14.59, a P/E/G ratio of 4.91 and a beta of 1.65. The stock has a fifty day moving average price of $77.39 and a two-hundred day moving average price of $71.47. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.67 and a current ratio of 0.90.

ONEOK (NYSE:OKE) last issued its quarterly earnings results on Monday, February 26th. The utilities provider reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.03). The business had revenue of $5.24 billion for the quarter, compared to analysts’ expectations of $5.57 billion. ONEOK had a return on equity of 22.57% and a net margin of 15.04%. During the same quarter in the previous year, the firm posted $1.08 EPS. Research analysts forecast that ONEOK, Inc. will post 4.99 EPS for the current fiscal year.

ONEOK declared that its board has approved a stock buyback plan on Wednesday, January 17th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the utilities provider to purchase up to 4.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its stock is undervalued.

ONEOK Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be issued a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 4.87%. The ex-dividend date of this dividend is Tuesday, April 30th. ONEOK’s dividend payout ratio is presently 71.35%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on OKE. US Capital Advisors cut shares of ONEOK from an “overweight” rating to a “hold” rating in a research note on Wednesday, March 20th. Wolfe Research raised shares of ONEOK from an “underperform” rating to a “peer perform” rating in a report on Wednesday, January 10th. Barclays increased their price target on shares of ONEOK from $73.00 to $80.00 and gave the company an “equal weight” rating in a research report on Thursday, March 7th. StockNews.com raised shares of ONEOK from a “sell” rating to a “hold” rating in a research report on Wednesday, March 6th. Finally, UBS Group raised their target price on shares of ONEOK from $80.00 to $87.00 and gave the stock a “buy” rating in a research report on Tuesday, February 27th. One analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $82.25.

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.