Maryland State Retirement & Pension System Purchases 21,391 Shares of ONEOK, Inc. $OKE

Maryland State Retirement & Pension System grew its stake in shares of ONEOK, Inc. (NYSE:OKE) by 3.6% in the third quarter, Holdings Channel reports. The firm owned 614,673 shares of the utilities provider’s stock after acquiring an additional 21,391 shares during the period. ONEOK accounts for approximately 0.9% of Maryland State Retirement & Pension System’s holdings, making the stock its 19th largest position. Maryland State Retirement & Pension System’s holdings in ONEOK were worth $44,853,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently added to or reduced their stakes in OKE. Norges Bank bought a new position in shares of ONEOK during the 2nd quarter worth $562,832,000. First Eagle Investment Management LLC lifted its holdings in ONEOK by 130.8% during the second quarter. First Eagle Investment Management LLC now owns 6,256,173 shares of the utilities provider’s stock worth $510,691,000 after buying an additional 3,545,256 shares during the period. Boston Partners raised its position in shares of ONEOK by 53.7% in the 2nd quarter. Boston Partners now owns 5,509,100 shares of the utilities provider’s stock worth $448,476,000 after acquiring an additional 1,924,864 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of ONEOK by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 76,510,971 shares of the utilities provider’s stock worth $6,245,591,000 after purchasing an additional 1,314,002 shares during the last quarter. Finally, Man Group plc grew its stake in ONEOK by 292.1% in the second quarter. Man Group plc now owns 1,558,993 shares of the utilities provider’s stock valued at $127,261,000 after purchasing an additional 1,161,352 shares during the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on OKE shares. Wells Fargo & Company lowered their price target on ONEOK from $90.00 to $82.00 and set an “equal weight” rating for the company in a report on Thursday, October 30th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $72.00 price objective on shares of ONEOK in a report on Monday, November 3rd. Stifel Nicolaus set a $94.00 target price on ONEOK in a research report on Thursday, October 30th. Barclays cut their price target on shares of ONEOK from $78.00 to $76.00 and set an “equal weight” rating on the stock in a research note on Thursday. Finally, TD Cowen reduced their price objective on shares of ONEOK from $78.00 to $76.00 and set a “hold” rating on the stock in a report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.14.

ONEOK Price Performance

Shares of NYSE:OKE opened at $74.46 on Friday. ONEOK, Inc. has a 12 month low of $64.02 and a 12 month high of $111.02. The firm has a market capitalization of $46.85 billion, a price-to-earnings ratio of 13.69, a price-to-earnings-growth ratio of 4.15 and a beta of 0.94. The business’s 50 day simple moving average is $72.41 and its 200-day simple moving average is $73.68. The company has a debt-to-equity ratio of 1.44, a current ratio of 0.90 and a quick ratio of 0.75.

ONEOK (NYSE:OKE) last issued its quarterly earnings results on Tuesday, October 28th. The utilities provider reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.48 by $0.01. The business had revenue of $8.63 billion during the quarter, compared to the consensus estimate of $8.23 billion. ONEOK had a net margin of 10.58% and a return on equity of 15.12%. During the same period in the previous year, the firm posted $1.18 earnings per share. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. As a group, equities analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

Insider Transactions at ONEOK

In other ONEOK news, Director Brian L. Derksen purchased 2,500 shares of the business’s stock in a transaction dated Monday, November 3rd. The shares were bought at an average price of $66.00 per share, with a total value of $165,000.00. Following the completion of the acquisition, the director owned 21,200 shares in the company, valued at approximately $1,399,200. This represents a 13.37% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.21% of the stock is owned by corporate insiders.

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.