California State Teachers Retirement System Raises Position in ONEOK, Inc. $OKE

Key Points

• California State Teachers Retirement System dramatically increased its ONEOK position by 6,935.8% in the second quarter, purchasing 118.1 million additional shares. It now owns about 19.01% of the company, valued at $10.4 billion.
• ONEOK reported quarterly EPS of $1.53, beating estimates of $1.46, while revenue reached $12.05 billion versus the $8.95 billion consensus forecast. Analysts maintain a consensus “Hold” rating with a $95.50 price target.
• The company pays a quarterly dividend of $1.07, equal to $4.28 annually and a 4.4% yield. ONEOK shares opened at $97.62, near their 52-week high of $99.85.

California State Teachers Retirement System raised its position in ONEOK, Inc. (NYSE:OKE - Free Report) by 6,935.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 119,843,399 shares of the utilities provider's stock after buying an additional 118,140,062 shares during the period. California State Teachers Retirement System owned about 19.01% of ONEOK worth $10,419,185,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Zions Bancorporation National Association UT lifted its position in shares of ONEOK by 73.3% in the fourth quarter. Zions Bancorporation National Association UT now owns 338 shares of the utilities provider's stock valued at $25,000 after acquiring an additional 143 shares in the last quarter. Pin Oak Investment Advisors Inc. acquired a new stake in shares of ONEOK in the second quarter worth approximately $28,000. Elyxium Wealth LLC purchased a new stake in shares of ONEOK during the fourth quarter worth approximately $29,000. Cornerstone Financial Management LLC acquired a new position in ONEOK in the 4th quarter valued at $29,000. Finally, Transamerica Financial Advisors LLC raised its stake in ONEOK by 69.6% in the 2nd quarter. Transamerica Financial Advisors LLC now owns 363 shares of the utilities provider's stock valued at $32,000 after purchasing an additional 149 shares during the last quarter. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

OKE has been the topic of several recent research reports. Truist Financial lifted their target price on shares of ONEOK from $93.00 to $104.00 and gave the stock a "hold" rating in a research note on Wednesday, September 2nd. US Capital Advisors lowered shares of ONEOK from a "strong-buy" rating to a "moderate buy" rating in a report on Thursday, August 20th. TD Cowen increased their target price on shares of ONEOK from $85.00 to $90.00 and gave the company a "hold" rating in a research report on Thursday, July 16th. Wall Street Zen raised shares of ONEOK from a "sell" rating to a "hold" rating in a research note on Sunday, August 9th. Finally, Jefferies Financial Group boosted their price target on shares of ONEOK from $95.00 to $105.00 and gave the stock a "hold" rating in a research report on Wednesday, September 2nd. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and eleven have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $95.50.

ONEOK Stock Up 2.3%

NYSE OKE opened at $97.62 on Wednesday. The business's fifty day simple moving average is $92.02 and its 200-day simple moving average is $89.28. The company has a quick ratio of 0.59, a current ratio of 0.74 and a debt-to-equity ratio of 1.34. The firm has a market cap of $61.54 billion, a PE ratio of 16.83, a P/E/G ratio of 2.66 and a beta of 0.74. ONEOK, Inc. has a 52 week low of $64.02 and a 52 week high of $99.85.

ONEOK (NYSE:OKE - Get Free Report) last announced its quarterly earnings data on Monday, August 3rd. The utilities provider reported $1.53 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.46 by $0.07. ONEOK had a net margin of 9.29% and a return on equity of 16.41%. The firm had revenue of $12.05 billion during the quarter, compared to analyst estimates of $8.95 billion. During the same quarter in the prior year, the firm posted $1.34 earnings per share. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. As a group, equities analysts anticipate that ONEOK, Inc. will post 5.84 earnings per share for the current year.

ONEOK Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Monday, August 3rd were paid a $1.07 dividend. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $4.28 annualized dividend and a dividend yield of 4.4%. ONEOK's dividend payout ratio is 73.79%.

ONEOK Company Profile

ONEOK, Inc NYSE: OKE is an energy infrastructure company that gathers, processes, stores and transports natural gas and natural gas liquids (NGLs). Its operations connect production areas with domestic and international markets through pipelines, processing facilities, fractionation plants, storage assets and export infrastructure.

The company's services include natural gas gathering and processing, interstate and intrastate natural gas transportation and storage, and the gathering, fractionation, storage and transportation of NGLs such as ethane, propane, normal butane, isobutane and natural gasoline.

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