California Public Employees Retirement System Has $79.60 Million Stock Position in ONEOK, Inc. $OKE

California Public Employees Retirement System increased its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 2.7% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 1,090,821 shares of the utilities provider’s stock after purchasing an additional 28,496 shares during the period. California Public Employees Retirement System’s holdings in ONEOK were worth $79,597,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Norges Bank acquired a new position in shares of ONEOK during the 2nd quarter worth approximately $562,832,000. Boston Partners lifted its holdings in ONEOK by 53.7% during the 2nd quarter. Boston Partners now owns 5,509,100 shares of the utilities provider’s stock valued at $448,476,000 after purchasing an additional 1,924,864 shares during the last quarter. First Eagle Investment Management LLC boosted its position in ONEOK by 24.2% during the third quarter. First Eagle Investment Management LLC now owns 7,769,215 shares of the utilities provider’s stock worth $566,920,000 after purchasing an additional 1,513,042 shares during the period. Vanguard Group Inc. boosted its position in ONEOK by 1.7% during the second quarter. Vanguard Group Inc. now owns 76,510,971 shares of the utilities provider’s stock worth $6,245,591,000 after purchasing an additional 1,314,002 shares during the period. Finally, Man Group plc increased its holdings in shares of ONEOK by 292.1% in the second quarter. Man Group plc now owns 1,558,993 shares of the utilities provider’s stock valued at $127,261,000 after purchasing an additional 1,161,352 shares during the last quarter. Institutional investors own 69.13% of the company’s stock.

ONEOK Price Performance

Shares of OKE stock opened at $85.35 on Tuesday. The business has a fifty day simple moving average of $80.82 and a 200 day simple moving average of $74.84. The company has a market cap of $53.75 billion, a P/E ratio of 15.75, a P/E/G ratio of 6.50 and a beta of 0.93. The company has a quick ratio of 0.56, a current ratio of 0.71 and a debt-to-equity ratio of 1.36. ONEOK, Inc. has a twelve month low of $64.02 and a twelve month high of $103.64.

ONEOK (NYSE:OKE) last released its earnings results on Monday, February 23rd. The utilities provider reported $1.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.05. The firm had revenue of $9.07 billion for the quarter, compared to analysts’ expectations of $8.77 billion. ONEOK had a return on equity of 15.29% and a net margin of 10.09%.During the same quarter in the previous year, the business posted $1.57 earnings per share. ONEOK has set its FY 2026 guidance at 5.040-5.870 EPS. On average, sell-side analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Monday, February 2nd were issued a dividend of $1.07 per share. This is a boost from ONEOK’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend was Monday, February 2nd. This represents a $4.28 annualized dividend and a dividend yield of 5.0%. ONEOK’s payout ratio is presently 78.97%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Jefferies Financial Group assumed coverage on shares of ONEOK in a research report on Tuesday, January 20th. They issued a “hold” rating and a $80.00 price objective on the stock. Morgan Stanley reiterated an “overweight” rating and issued a $104.00 price target on shares of ONEOK in a research note on Wednesday, January 28th. JPMorgan Chase & Co. cut shares of ONEOK from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $87.00 to $83.00 in a report on Tuesday, January 27th. Mizuho set a $89.00 price target on shares of ONEOK in a report on Monday, February 23rd. Finally, Wells Fargo & Company boosted their price objective on ONEOK from $79.00 to $81.00 and gave the stock an “equal weight” rating in a report on Friday. Seven equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $86.60.

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.