California Public Employees Retirement System Purchases 74,403 Shares of ONEOK, Inc. $OKE

California Public Employees Retirement System grew its position in ONEOK, Inc. (NYSE:OKE) by 7.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 1,062,325 shares of the utilities provider’s stock after buying an additional 74,403 shares during the period. California Public Employees Retirement System owned approximately 0.17% of ONEOK worth $86,718,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in OKE. Vanguard Group Inc. raised its holdings in ONEOK by 1.7% in the 2nd quarter. Vanguard Group Inc. now owns 76,510,971 shares of the utilities provider’s stock worth $6,245,591,000 after acquiring an additional 1,314,002 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of ONEOK by 2.9% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 21,570,904 shares of the utilities provider’s stock worth $1,760,833,000 after purchasing an additional 613,674 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of ONEOK by 2.3% in the second quarter. Geode Capital Management LLC now owns 15,800,797 shares of the utilities provider’s stock worth $1,284,303,000 after purchasing an additional 355,751 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of ONEOK by 0.6% during the second quarter. Invesco Ltd. now owns 8,386,831 shares of the utilities provider’s stock valued at $684,617,000 after purchasing an additional 46,892 shares in the last quarter. Finally, Tortoise Capital Advisors L.L.C. lifted its holdings in shares of ONEOK by 17.1% during the first quarter. Tortoise Capital Advisors L.L.C. now owns 7,171,795 shares of the utilities provider’s stock valued at $711,586,000 after purchasing an additional 1,047,810 shares in the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Trading Down 1.9%

Shares of ONEOK stock opened at $74.89 on Tuesday. ONEOK, Inc. has a 1-year low of $64.02 and a 1-year high of $111.02. The company’s fifty day simple moving average is $70.18 and its 200-day simple moving average is $75.32. The company has a debt-to-equity ratio of 1.44, a current ratio of 0.90 and a quick ratio of 0.75. The stock has a market capitalization of $47.12 billion, a PE ratio of 13.77, a P/E/G ratio of 4.68 and a beta of 0.95.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Tuesday, October 28th. The utilities provider reported $1.49 EPS for the quarter, topping the consensus estimate of $1.48 by $0.01. The firm had revenue of $8.63 billion during the quarter, compared to analyst estimates of $8.23 billion. ONEOK had a return on equity of 15.12% and a net margin of 10.58%.During the same period in the prior year, the business posted $1.18 EPS. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. As a group, equities analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Monday, November 3rd were paid a $1.03 dividend. The ex-dividend date of this dividend was Monday, November 3rd. This represents a $4.12 annualized dividend and a dividend yield of 5.5%. ONEOK’s dividend payout ratio (DPR) is 75.74%.

Insider Buying and Selling at ONEOK

In related news, Director Brian L. Derksen acquired 2,500 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The stock was bought at an average cost of $66.00 per share, for a total transaction of $165,000.00. Following the purchase, the director owned 21,200 shares in the company, valued at $1,399,200. The trade was a 13.37% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on OKE shares. Raymond James Financial reissued an “outperform” rating and issued a $82.00 target price (down previously from $100.00) on shares of ONEOK in a research report on Friday, October 24th. Stifel Nicolaus set a $94.00 price objective on shares of ONEOK in a report on Thursday, October 30th. Morgan Stanley lowered their price objective on shares of ONEOK from $122.00 to $110.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 26th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $72.00 target price on shares of ONEOK in a research report on Monday, November 3rd. Finally, Scotiabank decreased their target price on shares of ONEOK from $88.00 to $87.00 and set a “sector outperform” rating for the company in a research note on Tuesday, November 4th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, ONEOK currently has a consensus rating of “Moderate Buy” and an average price target of $88.00.

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.