Louisiana State Employees Retirement System Makes New Investment in ONEOK, Inc. $OKE

Louisiana State Employees Retirement System bought a new stake in shares of ONEOK, Inc. (NYSE:OKE) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 32,100 shares of the utilities provider’s stock, valued at approximately $2,902,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Silver Oak Securities Incorporated bought a new position in shares of ONEOK in the first quarter valued at approximately $244,000. Kestra Private Wealth Services LLC boosted its position in shares of ONEOK by 28.6% during the 1st quarter. Kestra Private Wealth Services LLC now owns 54,060 shares of the utilities provider’s stock valued at $4,886,000 after acquiring an additional 12,022 shares in the last quarter. Ritholtz Wealth Management bought a new stake in ONEOK in the first quarter valued at $234,000. MBM Wealth Consultants LLC raised its stake in shares of ONEOK by 6.0% in the first quarter. MBM Wealth Consultants LLC now owns 7,189 shares of the utilities provider’s stock valued at $650,000 after acquiring an additional 404 shares during the last quarter. Finally, Brian Low Financial Group LLC acquired a new stake in ONEOK in the 1st quarter valued at about $232,000. 69.13% of the stock is currently owned by institutional investors and hedge funds.

ONEOK Stock Performance

Shares of ONEOK stock opened at $89.18 on Monday. 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 business has a 50 day moving average price of $88.32 and a 200-day moving average price of $83.61. ONEOK, Inc. has a 52 week low of $64.02 and a 52 week high of $96.07. The company has a market cap of $56.20 billion, a PE ratio of 15.90, a price-to-earnings-growth ratio of 6.67 and a beta of 0.74.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Tuesday, April 28th. The utilities provider reported $1.23 earnings per share for the quarter, missing the consensus estimate of $1.30 by ($0.07). The firm had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $8.23 billion. ONEOK had a return on equity of 16.06% and a net margin of 10.03%.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. Equities analysts anticipate that ONEOK, Inc. will post 5.72 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Monday, May 4th were paid 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 dividend payout ratio is presently 76.29%.

Analyst Ratings Changes

A number of analysts have commented on the stock. Freedom Capital raised shares of ONEOK from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 5th. Weiss Ratings upgraded shares of ONEOK from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, May 18th. Royal Bank Of Canada lifted their price target on shares of ONEOK from $79.00 to $84.00 and gave the company a “sector perform” rating in a research report on Thursday, March 19th. TD Cowen upped their price objective on ONEOK from $80.00 to $85.00 and gave the stock a “hold” rating in a research report on Thursday, April 30th. Finally, Truist Financial raised their target price on ONEOK from $91.00 to $93.00 and gave the stock a “hold” rating in a research report on Monday, May 4th. Eight investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, ONEOK has an average rating of “Hold” and a consensus price target of $91.88.

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.