Teachers Retirement System of The State of Kentucky Has $24.28 Million Stake in ONEOK, Inc. $OKE

Teachers Retirement System of The State of Kentucky cut its position in shares of ONEOK, Inc. (NYSE:OKE) by 43.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 332,707 shares of the utilities provider’s stock after selling 252,630 shares during the quarter. Teachers Retirement System of The State of Kentucky owned 0.05% of ONEOK worth $24,277,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the stock. Brighton Jones LLC raised its stake in shares of ONEOK by 137.1% during the fourth quarter. Brighton Jones LLC now owns 15,278 shares of the utilities provider’s stock worth $1,534,000 after buying an additional 8,834 shares during the last quarter. Empowered Funds LLC raised its holdings in ONEOK by 0.8% during the 1st quarter. Empowered Funds LLC now owns 17,957 shares of the utilities provider’s stock worth $1,782,000 after buying an additional 137 shares during the period. Acadian Asset Management LLC acquired a new stake in shares of ONEOK during the first quarter worth $216,000. Hantz Financial Services Inc. lifted its holdings in shares of ONEOK by 55.2% in the second quarter. Hantz Financial Services Inc. now owns 1,287 shares of the utilities provider’s stock valued at $105,000 after purchasing an additional 458 shares in the last quarter. Finally, Assetmark Inc. boosted its position in ONEOK by 84.0% during the 2nd quarter. Assetmark Inc. now owns 4,047 shares of the utilities provider’s stock worth $330,000 after acquiring an additional 1,848 shares during the last quarter. 69.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Jefferies Financial Group started coverage on ONEOK in a research note on Tuesday, January 20th. They issued a “hold” rating and a $80.00 price target for the company. Argus raised shares of ONEOK from a “hold” rating to a “buy” rating and set a $79.00 price objective for the company in a research report on Thursday, November 6th. Wells Fargo & Company decreased their target price on ONEOK from $82.00 to $79.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 25th. Barclays dropped their price objective on shares of ONEOK from $78.00 to $76.00 and set an “equal weight” rating for the company in a research note on Thursday, January 15th. Finally, UBS Group cut their target price on ONEOK from $114.00 to $103.00 and set a “buy” rating for the company in a research report on Thursday, January 22nd. Seven investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $86.07.

ONEOK Stock Down 1.7%

ONEOK stock opened at $84.66 on Wednesday. The firm’s fifty day moving average is $78.67 and its 200 day moving average is $74.13. ONEOK, Inc. has a 12-month low of $64.02 and a 12-month high of $103.64. The company has a market capitalization of $53.32 billion, a PE ratio of 15.62, a PEG ratio of 5.07 and a beta of 0.93. The company has a quick ratio of 0.56, a current ratio of 0.71 and a debt-to-equity ratio of 1.36.

ONEOK (NYSE:OKE) last issued its earnings results on Monday, February 23rd. The utilities provider reported $1.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.50 by $0.05. The company had revenue of $9.07 billion for the quarter, compared to analysts’ expectations of $8.77 billion. ONEOK had a return on equity of 15.29% and a net margin of 10.09%.During the same period last year, the business earned $1.57 EPS. ONEOK has set its FY 2026 guidance at 5.040-5.870 EPS. As a group, sell-side analysts predict that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Monday, February 2nd were given a dividend of $1.07 per share. The ex-dividend date was Monday, February 2nd. This is an increase from ONEOK’s previous quarterly dividend of $1.03. This represents a $4.28 annualized dividend and a yield of 5.1%. ONEOK’s dividend payout ratio (DPR) is currently 78.97%.

ONEOK Profile

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.