Maryland State Retirement & Pension System Raises Stock Position in ONEOK, Inc. $OKE

Key Points

• The Maryland State Retirement & Pension System increased its shares in ONEOK, Inc. by 6.9%, owning a total of 593,282 shares valued at approximately $48.43 million.
• Recent reports by analysts reflect a consensus rating of "Moderate Buy" for ONEOK with an average price target of $99.00, while various institutional investors, including Vanguard and Invesco, have significantly raised their stakes in the company.
• ONEOK announced a quarterly dividend of $1.03 per share, yielding around 5.7%, with a payout ratio currently at 80.31%.

Maryland State Retirement & Pension System boosted its position in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 6.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 593,282 shares of the utilities provider's stock after purchasing an additional 38,076 shares during the period. ONEOK makes up 1.1% of Maryland State Retirement & Pension System's holdings, making the stock its 15th biggest holding. Maryland State Retirement & Pension System owned 0.09% of ONEOK worth $48,430,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of ONEOK by 7.2% in the 1st quarter. Vanguard Group Inc. now owns 75,196,969 shares of the utilities provider's stock valued at $7,461,043,000 after acquiring an additional 5,076,705 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of ONEOK by 13.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 20,957,230 shares of the utilities provider's stock valued at $2,079,376,000 after acquiring an additional 2,542,449 shares during the period. Invesco Ltd. raised its stake in shares of ONEOK by 25.1% in the 1st quarter. Invesco Ltd. now owns 8,339,939 shares of the utilities provider's stock valued at $827,489,000 after acquiring an additional 1,674,706 shares during the period. Tortoise Capital Advisors L.L.C. raised its stake in shares of ONEOK by 17.1% in the 1st quarter. Tortoise Capital Advisors L.L.C. now owns 7,171,795 shares of the utilities provider's stock valued at $711,586,000 after acquiring an additional 1,047,810 shares during the period. Finally, Northern Trust Corp raised its stake in shares of ONEOK by 5.3% in the 1st quarter. Northern Trust Corp now owns 6,879,863 shares of the utilities provider's stock valued at $682,620,000 after acquiring an additional 344,002 shares during the period. 69.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on OKE shares. Raymond James Financial reissued an "outperform" rating on shares of ONEOK in a research note on Friday, August 1st. Barclays set a $83.00 price objective on shares of ONEOK in a report on Thursday, August 14th. Royal Bank Of Canada dropped their price objective on shares of ONEOK from $94.00 to $88.00 and set a "sector perform" rating for the company in a report on Wednesday, August 13th. TD Cowen initiated coverage on shares of ONEOK in a report on Monday, July 7th. They issued a "hold" rating and a $91.00 price objective for the company. Finally, Scotiabank set a $92.00 price objective on shares of ONEOK and gave the company a "sector outperform" rating in a report on Tuesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat, ONEOK has an average rating of "Moderate Buy" and a consensus target price of $99.00.

ONEOK Stock Down 0.1%

OKE stock opened at $72.41 on Thursday. The company has a fifty day moving average price of $74.09 and a 200 day moving average price of $80.53. ONEOK, Inc. has a 12 month low of $70.63 and a 12 month high of $118.07. The company has a market cap of $45.60 billion, a price-to-earnings ratio of 14.12, a price-to-earnings-growth ratio of 1.78 and a beta of 1.01. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.59 and a quick ratio of 0.46.

ONEOK (NYSE:OKE - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The utilities provider reported $1.34 EPS for the quarter, beating the consensus estimate of $1.33 by $0.01. ONEOK had a net margin of 11.06% and a return on equity of 14.90%. The firm had revenue of $8.21 billion during the quarter, compared to the consensus estimate of $7.20 billion. During the same quarter in the prior year, the firm earned $1.33 EPS. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. Sell-side analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Friday, August 1st were given a dividend of $1.03 per share. The ex-dividend date was Friday, August 1st. This represents a $4.12 dividend on an annualized basis and a yield of 5.7%. ONEOK's dividend payout ratio is presently 80.31%.

ONEOK Company Profile

ONEOK, Inc engages in gathering, processing, fractionation, storage, transportation, and marketing of natural gas and natural gas liquids (NGL) in the United States. It operates through four segments: Natural Gas Gathering and Processing, Natural Gas Liquids, Natural Gas Pipelines, and Refined Products and Crude.

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