Oregon Public Employees Retirement Fund Has $5.25 Million Holdings in ONEOK, Inc. $OKE

Oregon Public Employees Retirement Fund increased its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 33.4% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 71,998 shares of the utilities provider’s stock after acquiring an additional 18,027 shares during the period. Oregon Public Employees Retirement Fund’s holdings in ONEOK were worth $5,254,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in ONEOK by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 76,510,971 shares of the utilities provider’s stock worth $6,245,591,000 after buying an additional 1,314,002 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of ONEOK by 2.9% in the second quarter. Charles Schwab Investment Management Inc. now owns 21,570,904 shares of the utilities provider’s stock valued at $1,760,833,000 after acquiring an additional 613,674 shares during the last quarter. Geode Capital Management LLC increased its position 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 valued at $1,284,303,000 after acquiring an additional 355,751 shares during the last quarter. Invesco Ltd. raised its holdings in ONEOK by 0.6% during the second quarter. Invesco Ltd. now owns 8,386,831 shares of the utilities provider’s stock worth $684,617,000 after acquiring an additional 46,892 shares in the last quarter. Finally, Norges Bank acquired a new position in ONEOK during the second quarter valued at approximately $562,832,000. Institutional investors own 69.13% of the company’s stock.

Analysts Set New Price Targets

OKE has been the subject of several recent analyst reports. TD Cowen cut their price objective on ONEOK from $78.00 to $76.00 and set a “hold” rating for the company in a report on Thursday, October 30th. Wells Fargo & Company dropped their price target on shares of ONEOK from $90.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 30th. Barclays decreased their price objective on shares of ONEOK from $83.00 to $78.00 and set an “equal weight” rating for the company in a research report on Thursday, October 9th. Citigroup lowered their price objective on shares of ONEOK from $102.00 to $95.00 and set a “buy” rating on the stock in a research note on Friday, October 31st. Finally, Scotiabank cut 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, nine have issued a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, ONEOK currently has an average rating of “Moderate Buy” and an average price target of $88.00.

ONEOK Trading Up 0.5%

Shares of ONEOK stock opened at $72.68 on Friday. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.75 and a current ratio of 0.90. The firm has a 50-day moving average of $71.65 and a 200-day moving average of $73.92. ONEOK, Inc. has a 52-week low of $64.02 and a 52-week high of $111.02. The stock has a market cap of $45.73 billion, a PE ratio of 13.36, a PEG ratio of 4.06 and a beta of 0.94.

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

ONEOK Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Monday, November 3rd were issued a dividend of $1.03 per share. The ex-dividend date of this dividend was Monday, November 3rd. This represents a $4.12 annualized dividend and a dividend yield of 5.7%. ONEOK’s dividend payout ratio (DPR) is currently 75.74%.

Insider Buying and Selling at ONEOK

In related news, Director Brian L. Derksen purchased 2,500 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The stock was acquired at an average cost of $66.00 per share, for a total transaction of $165,000.00. Following the completion of the purchase, the director owned 21,200 shares in the company, valued at approximately $1,399,200. This represents a 13.37% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.21% of the company’s stock.

ONEOK Profile

ONEOK, Inc (NYSE: OKE) is a publicly traded midstream energy company headquartered in Tulsa, Oklahoma. The company owns and operates a portfolio of natural gas and natural gas liquids (NGL) pipelines, processing facilities, fractionators and storage and terminal assets. Its operations are focused on gathering, processing, transporting, fractionating and marketing NGLs and interstate natural gas, providing critical infrastructure that connects hydrocarbon production to refineries, petrochemical plants and other end markets.

ONEOK’s asset base includes pipeline systems and processing plants that move and condition natural gas, along with infrastructure for the transportation, storage and fractionation of NGLs such as ethane, propane and butane.