ONEOK, Inc. $OKE Shares Sold by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Key Points

• Commonwealth of Pennsylvania Public School Empls Retrmt SYS cut its ONEOK stake by 7% in the first quarter, selling 75,723 shares and leaving it with about 1.0 million shares worth roughly $90.8 million.
• Wall Street remains mixed on ONEOK: several analysts raised price targets, but the stock’s overall consensus rating is still Hold with a target price of $91.75.
• ONEOK reported quarterly earnings of $1.23 per share, missing estimates, while revenue came in above expectations at $9.62 billion. The company also paid a quarterly dividend of $1.07 per share, equal to a 4.8% yield.

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lowered its holdings in ONEOK, Inc. (NYSE:OKE - Free Report) by 7.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,004,077 shares of the utilities provider's stock after selling 75,723 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS owned approximately 0.16% of ONEOK worth $90,759,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its position in ONEOK by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 77,603,334 shares of the utilities provider's stock valued at $5,703,845,000 after acquiring an additional 380,744 shares in the last quarter. State Street Corp increased its position in shares of ONEOK by 1.7% in the 4th quarter. State Street Corp now owns 38,450,591 shares of the utilities provider's stock worth $2,826,118,000 after purchasing an additional 648,647 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in ONEOK by 2.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 22,634,512 shares of the utilities provider's stock valued at $1,663,637,000 after buying an additional 599,248 shares in the last quarter. Geode Capital Management LLC raised its position in shares of ONEOK by 3.2% during the 4th quarter. Geode Capital Management LLC now owns 16,596,172 shares of the utilities provider's stock valued at $1,215,107,000 after acquiring an additional 518,746 shares in the last quarter. Finally, First Eagle Investment Management LLC raised its holdings in shares of ONEOK by 46.3% during the fourth quarter. First Eagle Investment Management LLC now owns 11,365,304 shares of the utilities provider's stock worth $835,350,000 after purchasing an additional 3,596,089 shares during the period. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on OKE shares. Morgan Stanley increased their price target on ONEOK from $104.00 to $113.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 7th. Citigroup boosted their price target on shares of ONEOK from $95.00 to $97.00 and gave the stock a "buy" rating in a research report on Thursday, May 7th. Wells Fargo & Company lowered their price target on ONEOK from $100.00 to $98.00 and set an "overweight" rating on the stock in a research report on Thursday, April 30th. JPMorgan Chase & Co. upped their price objective on ONEOK from $91.00 to $92.00 and gave the company a "neutral" rating in a report on Friday, May 8th. Finally, TD Cowen lifted their price target on shares of ONEOK from $80.00 to $85.00 and gave the stock a "hold" rating in a research report on Thursday, April 30th. Eight investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, ONEOK currently has a consensus rating of "Hold" and a consensus target price of $91.75.

ONEOK Stock Up 0.5%

Shares of OKE stock traded up $0.40 on Friday, reaching $89.90. 2,420,531 shares of the company's stock traded hands, compared to its average volume of 3,645,505. The company has a market capitalization of $56.65 billion, a P/E ratio of 16.03, a price-to-earnings-growth ratio of 6.72 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 has a debt-to-equity ratio of 1.37, a quick ratio of 0.56 and a current ratio of 0.71. The business's 50 day moving average price is $88.73 and its two-hundred day moving average price is $84.63.

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

ONEOK Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Monday, May 4th were issued a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a yield of 4.8%. The ex-dividend date was Monday, May 4th. ONEOK's dividend payout ratio (DPR) is 76.29%.

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.

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