Public Employees Retirement System of Ohio Has $15.84 Million Stake in ONEOK, Inc. $OKE

Public Employees Retirement System of Ohio lifted its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 1.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 194,018 shares of the utilities provider’s stock after purchasing an additional 3,037 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in ONEOK were worth $15,838,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of ONEOK by 7.2% during the first quarter. Vanguard Group Inc. now owns 75,196,969 shares of the utilities provider’s stock worth $7,461,043,000 after buying an additional 5,076,705 shares in the last quarter. Nuveen LLC bought a new position in shares of ONEOK during the 1st quarter worth approximately $440,535,000. Boston Partners bought a new position in shares of ONEOK during the 1st quarter worth approximately $353,596,000. Charles Schwab Investment Management Inc. boosted its stake in shares of ONEOK by 13.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 20,957,230 shares of the utilities provider’s stock worth $2,079,376,000 after acquiring an additional 2,542,449 shares during the period. Finally, Wellington Management Group LLP boosted its stake in shares of ONEOK by 51.9% during the 1st quarter. Wellington Management Group LLP now owns 6,388,987 shares of the utilities provider’s stock worth $633,915,000 after acquiring an additional 2,182,081 shares during the period. Institutional investors and hedge funds own 69.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on OKE shares. Mizuho dropped their price target on ONEOK from $87.00 to $82.00 and set a “neutral” rating for the company in a report on Friday, August 29th. Raymond James Financial reiterated an “outperform” rating on shares of ONEOK in a research report on Friday, August 1st. Scotiabank set a $92.00 price target on ONEOK and gave the stock a “sector outperform” rating in a research note on Tuesday, July 15th. JPMorgan Chase & Co. increased their price objective on ONEOK from $94.00 to $97.00 and gave the stock an “overweight” rating in a research note on Thursday, July 3rd. Finally, TD Cowen began coverage on ONEOK in a report on Monday, July 7th. They issued a “hold” rating and a $91.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $100.60.

ONEOK Stock Down 0.2%

NYSE OKE opened at $73.49 on Friday. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.59 and a quick ratio of 0.46. The stock has a market capitalization of $46.28 billion, a PE ratio of 14.33, a PEG ratio of 1.81 and a beta of 1.04. ONEOK, Inc. has a 1 year low of $70.63 and a 1 year high of $118.07. The business’s 50-day moving average is $75.72 and its 200 day moving average is $82.02.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Monday, August 4th. The utilities provider reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.01. The business had revenue of $8.21 billion for the quarter, compared to analysts’ expectations of $7.20 billion. ONEOK had a return on equity of 14.90% and a net margin of 11.06%.During the same period in the previous year, the firm posted $1.33 EPS. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. Sell-side analysts forecast 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 Thursday, August 14th. Stockholders of record on Friday, August 1st were paid a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 5.6%. The ex-dividend date was Friday, August 1st. ONEOK’s dividend payout ratio is 80.31%.

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.