Maryland State Retirement & Pension System Has $54.09 Million Stock Holdings in ONEOK, Inc. $OKE

Maryland State Retirement & Pension System cut its stake in ONEOK, Inc. (NYSE:OKE) by 4.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 598,447 shares of the utilities provider’s stock after selling 25,730 shares during the period. ONEOK comprises approximately 1.1% of Maryland State Retirement & Pension System’s holdings, making the stock its 17th largest holding. Maryland State Retirement & Pension System owned approximately 0.09% of ONEOK worth $54,094,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Capital International Investors acquired a new position in ONEOK during the fourth quarter worth $586,500,000. Norges Bank acquired a new stake in shares of ONEOK in the 4th quarter valued at $564,867,000. First Eagle Investment Management LLC boosted its stake in shares of ONEOK by 46.3% in the 4th quarter. First Eagle Investment Management LLC now owns 11,365,304 shares of the utilities provider’s stock valued at $835,350,000 after purchasing an additional 3,596,089 shares in the last quarter. Danske Bank A S grew its holdings in shares of ONEOK by 3,538.4% in the 4th quarter. Danske Bank A S now owns 1,691,433 shares of the utilities provider’s stock worth $124,320,000 after purchasing an additional 1,644,945 shares during the last quarter. Finally, Man Group plc grew its holdings in shares of ONEOK by 292.1% in the 2nd quarter. Man Group plc now owns 1,558,993 shares of the utilities provider’s stock worth $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 Stock Down 0.2%

Shares of NYSE:OKE opened at $91.97 on Wednesday. The company has a quick ratio of 0.56, a current ratio of 0.71 and a debt-to-equity ratio of 1.37. The firm has a market cap of $57.96 billion, a P/E ratio of 16.39, a P/E/G ratio of 6.89 and a beta of 0.73. ONEOK, Inc. has a 12 month low of $64.02 and a 12 month high of $96.07. The company’s 50-day moving average price is $88.76 and its two-hundred day moving average price is $84.97.

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

ONEOK Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Monday, May 4th were issued a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date was Monday, May 4th. ONEOK’s dividend payout ratio is currently 76.29%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on OKE shares. Weiss Ratings raised shares of ONEOK from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, May 18th. Barclays decreased their price objective on shares of ONEOK from $90.00 to $88.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 8th. Wall Street Zen raised shares of ONEOK from a “sell” rating to a “hold” rating in a report on Tuesday, May 26th. Citigroup lifted their target price on shares of ONEOK from $95.00 to $97.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Finally, Scotiabank downgraded ONEOK from a “sector outperform” rating to a “sector perform” rating and reduced their target price for the stock from $92.00 to $89.00 in a report on Thursday, April 30th. Eight analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $91.75.

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.