Louisiana State Employees Retirement System Has $1.23 Million Position in ONEOK, Inc. (NYSE:OKE)

Louisiana State Employees Retirement System boosted its stake in shares of ONEOK, Inc. (NYSE:OKE) by 80.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,500 shares of the utilities provider’s stock after buying an additional 10,500 shares during the period. Louisiana State Employees Retirement System’s holdings in ONEOK were worth $1,226,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. CHICAGO TRUST Co NA increased its position in ONEOK by 0.5% in the second quarter. CHICAGO TRUST Co NA now owns 4,020 shares of the utilities provider’s stock valued at $210,000 after buying an additional 20 shares in the last quarter. Cleararc Capital Inc. increased its position in ONEOK by 0.7% in the first quarter. Cleararc Capital Inc. now owns 5,147 shares of the utilities provider’s stock valued at $285,000 after buying an additional 36 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. increased its position in ONEOK by 0.7% in the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 8,076 shares of the utilities provider’s stock valued at $448,000 after buying an additional 60 shares in the last quarter. Capstone Asset Management Co. increased its position in ONEOK by 0.4% in the first quarter. Capstone Asset Management Co. now owns 18,444 shares of the utilities provider’s stock valued at $1,023,000 after buying an additional 80 shares in the last quarter. Finally, Sentry Investment Management LLC increased its position in ONEOK by 0.5% in the first quarter. Sentry Investment Management LLC now owns 15,196 shares of the utilities provider’s stock valued at $842,000 after buying an additional 81 shares in the last quarter. 80.89% of the stock is owned by institutional investors.

Shares of ONEOK, Inc. (NYSE OKE) opened at 52.41 on Friday. The stock has a market cap of $19.92 billion, a PE ratio of 32.84 and a beta of 1.31. ONEOK, Inc. has a 1-year low of $45.41 and a 1-year high of $59.47. The company’s 50-day moving average price is $53.16 and its 200 day moving average price is $53.04.

ONEOK (NYSE:OKE) last released its earnings results on Tuesday, August 1st. The utilities provider reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by $0.12. The firm had revenue of $2.73 billion for the quarter, compared to the consensus estimate of $2.64 billion. ONEOK had a return on equity of 8.62% and a net margin of 3.26%. During the same period in the prior year, the business earned $0.40 EPS. Equities analysts forecast that ONEOK, Inc. will post $1.54 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, August 14th. Investors of record on Monday, August 7th will be issued a $0.745 dividend. This is an increase from ONEOK’s previous quarterly dividend of $0.62. The ex-dividend date is Thursday, August 3rd. This represents a $2.98 annualized dividend and a dividend yield of 5.69%. ONEOK’s dividend payout ratio (DPR) is 186.25%.

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Several research firms have weighed in on OKE. Guggenheim assumed coverage on ONEOK in a research report on Monday, April 17th. They issued a “buy” rating and a $62.00 target price for the company. UBS AG upgraded ONEOK from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $56.00 to $59.00 in a research note on Wednesday, June 14th. BidaskClub upgraded ONEOK from a “hold” rating to a “buy” rating in a research note on Friday, August 4th. Argus upgraded ONEOK from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a research note on Wednesday, June 21st. Finally, Jefferies Group LLC set a $51.00 price objective on ONEOK and gave the company a “hold” rating in a research note on Friday, June 16th. Eight investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. ONEOK presently has a consensus rating of “Hold” and an average target price of $57.15.

In related news, Director Eduardo A. Rodriguez sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, June 16th. The stock was sold at an average price of $50.34, for a total value of $100,680.00. Following the sale, the director now owns 18,125 shares of the company’s stock, valued at approximately $912,412.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.90% of the company’s stock.

About ONEOK

ONEOK, Inc is an energy midstream service provider in the United States. The Company owns and operates natural gas liquids (NGL) systems, and is engaged in the gathering, processing, storage and transportation of natural gas. THe Company’s operations include a 38,000-mile integrated network of NGL and natural gas pipelines, processing plants, fractionators and storage facilities in the Mid-Continent, Williston, Permian and Rocky Mountain regions.

Institutional Ownership by Quarter for ONEOK (NYSE:OKE)

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