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

Maryland State Retirement & Pension System lifted its stake in ONEOK, Inc. (NYSE:OKE) by 3.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 614,673 shares of the utilities provider’s stock after acquiring an additional 21,391 shares during the period. ONEOK makes up about 0.9% of Maryland State Retirement & Pension System’s holdings, making the stock its 19th largest holding. Maryland State Retirement & Pension System owned 0.10% of ONEOK worth $44,853,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in ONEOK by 1.7% during the second quarter. Vanguard Group Inc. now owns 76,510,971 shares of the utilities provider’s stock valued at $6,245,591,000 after buying an additional 1,314,002 shares during the period. Charles Schwab Investment Management Inc. boosted its position in ONEOK by 2.9% during the second quarter. Charles Schwab Investment Management Inc. now owns 21,570,904 shares of the utilities provider’s stock valued at $1,760,833,000 after buying an additional 613,674 shares during the period. Geode Capital Management LLC grew its stake in shares of ONEOK by 2.3% during the second quarter. Geode Capital Management LLC now owns 15,800,797 shares of the utilities provider’s stock valued at $1,284,303,000 after buying an additional 355,751 shares during the last quarter. Invesco Ltd. boosted its holdings in ONEOK by 0.6% during the 2nd quarter. Invesco Ltd. now owns 8,386,831 shares of the utilities provider’s stock valued at $684,617,000 after acquiring an additional 46,892 shares during the period. Finally, Norges Bank bought a new position in ONEOK during the 2nd quarter worth approximately $562,832,000. Institutional investors own 69.13% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of ONEOK in a report on Monday, December 29th. Barclays reduced their target price on ONEOK from $78.00 to $76.00 and set an “equal weight” rating on the stock in a research note on Thursday. The Goldman Sachs Group restated a “neutral” rating and issued a $72.00 price objective on shares of ONEOK in a report on Monday, November 3rd. Wells Fargo & Company reduced their price target on ONEOK from $90.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 30th. Finally, Citigroup lowered their price objective on ONEOK from $102.00 to $95.00 and set a “buy” rating for the company in a research report on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $88.14.

ONEOK Stock Up 1.5%

OKE opened at $74.46 on Friday. The stock has a market capitalization of $46.85 billion, a price-to-earnings ratio of 13.69, a PEG ratio of 4.15 and a beta of 0.94. The firm has a 50 day moving average price of $72.41 and a 200-day moving average price of $73.68. ONEOK, Inc. has a twelve month low of $64.02 and a twelve month high of $111.02. The company has a quick ratio of 0.75, a current ratio of 0.90 and a debt-to-equity ratio of 1.44.

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

Insider Buying and Selling at ONEOK

In other ONEOK news, Director Brian L. Derksen bought 2,500 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The stock was purchased at an average price of $66.00 per share, for a total transaction of $165,000.00. Following the completion of the transaction, the director owned 21,200 shares of the company’s stock, valued at $1,399,200. This trade represents a 13.37% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.21% of the stock is currently owned by company 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.