Maryland State Retirement & Pension System Sells 25,730 Shares of ONEOK, Inc. $OKE

Maryland State Retirement & Pension System lowered its position in shares of ONEOK, Inc. (NYSE:OKE) by 4.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 598,447 shares of the utilities provider’s stock after selling 25,730 shares during the quarter. ONEOK accounts for about 1.1% of Maryland State Retirement & Pension System’s investment portfolio, making the stock its 17th biggest holding. Maryland State Retirement & Pension System’s holdings in ONEOK were worth $54,094,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of OKE. Vanguard Group Inc. raised its holdings in ONEOK by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 77,603,334 shares of the utilities provider’s stock worth $5,703,845,000 after purchasing an additional 380,744 shares during the period. State Street Corp raised its stake in ONEOK by 1.7% during the 4th quarter. State Street Corp now owns 38,450,591 shares of the utilities provider’s stock worth $2,826,118,000 after buying an additional 648,647 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings 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 worth $1,663,637,000 after acquiring an additional 599,248 shares in the last quarter. Geode Capital Management LLC grew its stake in ONEOK by 3.2% in the fourth 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 during the period. Finally, First Eagle Investment Management LLC grew its stake in ONEOK by 46.3% in the fourth quarter. First Eagle Investment Management LLC now owns 11,365,304 shares of the utilities provider’s stock valued at $835,350,000 after acquiring an additional 3,596,089 shares during the period. Institutional investors own 69.13% of the company’s stock.

ONEOK Stock Down 0.2%

ONEOK stock opened at $91.97 on Wednesday. The company has a current ratio of 0.71, a quick ratio of 0.56 and a debt-to-equity ratio of 1.37. ONEOK, Inc. has a 1-year low of $64.02 and a 1-year high of $96.07. The company has a fifty day simple moving average of $88.76 and a 200 day simple moving average of $84.97. The company has a market cap of $57.96 billion, a P/E ratio of 16.39, a price-to-earnings-growth ratio of 6.89 and a beta of 0.73.

ONEOK (NYSE:OKE) last issued its quarterly earnings results on Tuesday, April 28th. The utilities provider reported $1.23 EPS for the quarter, missing the consensus estimate of $1.30 by ($0.07). ONEOK had a return on equity of 16.06% and a net margin of 10.03%.The business had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $8.23 billion. During the same period last year, the firm earned $1.04 earnings per share. ONEOK has set its FY 2026 guidance at 5.530-5.530 EPS. Research analysts anticipate that ONEOK, Inc. will post 5.72 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 15th. Investors 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 4.7%. The ex-dividend date was Monday, May 4th. ONEOK’s dividend payout ratio is presently 76.29%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on OKE shares. Raymond James Financial reaffirmed an “outperform” rating and set a $92.00 price target on shares of ONEOK in a research report on Thursday, April 30th. Morgan Stanley raised their target price on shares of ONEOK from $104.00 to $113.00 and gave the stock an “overweight” rating in a report on Tuesday, April 7th. Freedom Capital raised shares of ONEOK from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 5th. Truist Financial upped their price target on shares of ONEOK from $91.00 to $93.00 and gave the company a “hold” rating in a report on Monday, May 4th. Finally, Wall Street Zen raised shares of ONEOK from a “sell” rating to a “hold” rating in a research report on Tuesday, May 26th. Eight research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $91.75.

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.