32,100 Shares in ONEOK, Inc. $OKE Bought by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System purchased a new stake in shares of ONEOK, Inc. (NYSE:OKE) in the first quarter, according to its most recent filing with the SEC. The firm purchased 32,100 shares of the utilities provider’s stock, valued at approximately $2,902,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Zions Bancorporation National Association UT raised its position in ONEOK by 73.3% during the fourth quarter. Zions Bancorporation National Association UT now owns 338 shares of the utilities provider’s stock worth $25,000 after acquiring an additional 143 shares during the last quarter. Elyxium Wealth LLC purchased a new position in ONEOK during the fourth quarter worth $29,000. Cornerstone Financial Management LLC purchased a new position in ONEOK during the fourth quarter worth $29,000. SRH Advisors LLC raised its holdings in shares of ONEOK by 122.3% in the fourth quarter. SRH Advisors LLC now owns 438 shares of the utilities provider’s stock worth $32,000 after acquiring an additional 241 shares during the last quarter. Finally, Accredited Wealth Management LLC lifted its position in shares of ONEOK by 342.5% in the third quarter. Accredited Wealth Management LLC now owns 500 shares of the utilities provider’s stock valued at $36,000 after acquiring an additional 387 shares in the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on OKE. Scotiabank downgraded shares of ONEOK from a “sector outperform” rating to a “sector perform” rating and cut their target price for the company from $92.00 to $89.00 in a research note on Thursday, April 30th. Raymond James Financial reissued an “outperform” rating and issued a $92.00 price objective on shares of ONEOK in a research report on Thursday, April 30th. JPMorgan Chase & Co. upped their price objective on shares of ONEOK from $91.00 to $92.00 and gave the company a “neutral” rating in a research note on Friday, May 8th. Truist Financial raised their target price on shares of ONEOK from $91.00 to $93.00 and gave the stock a “hold” rating in a research report on Monday, May 4th. Finally, Citigroup lifted their target price on shares of ONEOK from $95.00 to $97.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Eight investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $91.88.

ONEOK Stock Performance

ONEOK stock opened at $89.18 on Monday. The stock has a market cap of $56.20 billion, a P/E ratio of 15.90, a price-to-earnings-growth ratio of 6.67 and a beta of 0.74. The stock has a 50 day moving average of $88.32 and a 200-day moving average of $83.61. The company has a current ratio of 0.71, a quick ratio of 0.56 and a debt-to-equity ratio of 1.37. ONEOK, Inc. has a 52 week low of $64.02 and a 52 week high of $96.07.

ONEOK (NYSE:OKE) last issued its quarterly earnings results on Tuesday, April 28th. The utilities provider reported $1.23 earnings per share for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.07). ONEOK had a net margin of 10.03% and a return on equity of 16.06%. The firm had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $8.23 billion. During the same quarter last year, the firm posted $1.04 earnings per share. ONEOK has set its FY 2026 guidance at 5.530-5.530 EPS. On average, analysts expect that ONEOK, Inc. will post 5.72 EPS for the current fiscal year.

ONEOK Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Monday, May 4th were given a dividend of $1.07 per share. The ex-dividend date was Monday, May 4th. This represents a $4.28 annualized dividend and a dividend yield of 4.8%. ONEOK’s payout ratio is currently 76.29%.

About ONEOK

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.