California State Teachers Retirement System Sells 324,876 Shares of ONEOK, Inc. $OKE

California State Teachers Retirement System trimmed its position in ONEOK, Inc. (NYSE:OKE - Free Report) by 19.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,378,461 shares of the utilities provider's stock after selling 324,876 shares during the quarter. California State Teachers Retirement System owned 0.22% of ONEOK worth $119,843,399 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in OKE. Ameritas Advisory Services LLC increased its stake in ONEOK by 287.5% in the 2nd quarter. Ameritas Advisory Services LLC now owns 41,444 shares of the utilities provider's stock worth $3,603,000 after acquiring an additional 30,748 shares during the last quarter. HB Wealth Management LLC increased its holdings in shares of ONEOK by 14.0% during the second quarter. HB Wealth Management LLC now owns 35,263 shares of the utilities provider's stock valued at $3,066,000 after acquiring an additional 4,327 shares in the last quarter. Saudi Central Bank boosted its stake in shares of ONEOK by 89.9% during the 2nd quarter. Saudi Central Bank now owns 44,102 shares of the utilities provider's stock worth $3,834,000 after acquiring an additional 20,876 shares in the last quarter. AlphaGrep UK Ltd acquired a new position in ONEOK in the second quarter valued at approximately $231,000. Finally, SeedSafe Financial LLC purchased a new position in ONEOK in the second quarter valued at $369,000. Institutional investors own 69.13% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on OKE shares. Barclays lowered their price target on ONEOK from $90.00 to $88.00 and set an "equal weight" rating for the company in a report on Wednesday, July 8th. Weiss Ratings raised shares of ONEOK from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday, August 31st. Scotiabank lifted their price objective on ONEOK from $89.00 to $95.00 and gave the stock a "sector perform" rating in a research report on Tuesday, September 1st. Wall Street Zen upgraded shares of ONEOK from a "sell" rating to a "hold" rating in a research report on Sunday, August 9th. Finally, Wells Fargo & Company raised their target price on ONEOK from $98.00 to $106.00 and gave the stock an "overweight" rating in a report on Wednesday, September 2nd. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and twelve have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $96.06.

ONEOK Stock Performance

Shares of NYSE OKE traded down $1.43 during trading on Tuesday, reaching $95.54. The stock had a trading volume of 1,322,787 shares, compared to its average volume of 4,266,250. ONEOK, Inc. has a one year low of $64.02 and a one year high of $99.85. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.59 and a current ratio of 0.74. The stock has a market cap of $60.22 billion, a PE ratio of 16.47, a P/E/G ratio of 2.74 and a beta of 0.74. The firm's 50 day moving average price is $92.75 and its two-hundred day moving average price is $89.56.

ONEOK (NYSE:OKE - Get Free Report) last posted its quarterly earnings data on Monday, August 3rd. The utilities provider reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.07. The company had revenue of $12.05 billion for the quarter, compared to the consensus estimate of $8.95 billion. ONEOK had a net margin of 9.29% and a return on equity of 16.41%. During the same quarter in the previous year, the firm posted $1.34 EPS. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. On average, research analysts forecast that ONEOK, Inc. will post 5.74 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Monday, August 3rd were issued a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date was Monday, August 3rd. ONEOK's dividend payout ratio is currently 73.79%.

ONEOK 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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