California State Teachers Retirement System Sells 31,910 Shares of ONEOK, Inc. $OKE

California State Teachers Retirement System trimmed its holdings in ONEOK, Inc. (NYSE:OKE) by 1.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,703,337 shares of the utilities provider’s stock after selling 31,910 shares during the period. California State Teachers Retirement System’s holdings in ONEOK were worth $153,965,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Zions Bancorporation National Association UT grew its position in ONEOK by 73.3% during the fourth quarter. Zions Bancorporation National Association UT now owns 338 shares of the utilities provider’s stock worth $25,000 after buying an additional 143 shares in the last quarter. Elyxium Wealth LLC acquired a new position in ONEOK in the 4th quarter valued at $29,000. Cornerstone Financial Management LLC acquired a new position in ONEOK in the 4th quarter valued at $29,000. SRH Advisors LLC lifted its position in shares of ONEOK by 122.3% during the 4th quarter. SRH Advisors LLC now owns 438 shares of the utilities provider’s stock valued at $32,000 after acquiring an additional 241 shares during the period. Finally, Portus Wealth Advisors LLC bought a new stake in shares of ONEOK during the 1st quarter valued at $33,000. 69.13% of the stock is currently owned by institutional investors.

Key Headlines Impacting ONEOK

Here are the key news stories impacting ONEOK this week:

• Positive Sentiment: ONEOK reaffirmed its quarterly dividend at $1.07 per share, maintaining an annualized payout of $4.28. The commitment supports the stock’s income appeal, particularly as midstream companies continue to generate strong free cash flow that can fund dividends and buybacks. ONEOK affirms dividend ahead of earnings Midstream and MLP free cash flow
• Positive Sentiment: Valuation coverage argues that OKE remains reasonably priced after delivering a roughly 126% total return over five years, with discounted-cash-flow and market-multiple estimates placing fair value above the recent share price. Zacks also identifies the company as attractive for momentum and long-term growth-oriented investors. ONEOK valuation analysis ONEOK momentum stock analysis
• Neutral Sentiment: Analysts expect earnings to grow, but ONEOK’s consensus analyst rating remains “Hold,” suggesting limited conviction ahead of the report. Investors will be watching results and management guidance for confirmation of the growth outlook. ONEOK consensus rating
• Negative Sentiment: Recent trading showed OKE weakening even as the broader market rose. Zacks also noted that the company lacks the two key indicators typically associated with a likely earnings beat, increasing near-term event risk. ONEOK previously reported quarterly EPS below consensus, making the upcoming earnings release especially important. ONEOK earnings expectations

Analysts Set New Price Targets

OKE has been the topic of a number of recent analyst reports. Wall Street Zen upgraded ONEOK from a “sell” rating to a “hold” rating in a research report on Tuesday, May 26th. Jefferies Financial Group upped their price objective on shares of ONEOK from $98.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, April 8th. Freedom Capital upgraded shares of ONEOK from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 5th. Barclays dropped their target price on shares of ONEOK from $90.00 to $88.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 8th. Finally, JPMorgan Chase & Co. upped their price target on shares of ONEOK from $91.00 to $92.00 and gave the stock a “neutral” rating in a report on Friday, May 8th. Eight investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, ONEOK has an average rating of “Hold” and a consensus target price of $92.44.

ONEOK Stock Down 0.5%

OKE stock opened at $89.00 on Wednesday. The firm has a 50-day moving average price of $89.27 and a 200-day moving average price of $86.31. ONEOK, Inc. has a 12 month low of $64.02 and a 12 month high of $96.07. The company has a current ratio of 0.71, a quick ratio of 0.56 and a debt-to-equity ratio of 1.37. The stock has a market capitalization of $56.08 billion, a P/E ratio of 15.86, a price-to-earnings-growth ratio of 4.84 and a beta of 0.73.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Tuesday, April 28th. The utilities provider reported $1.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.30 by ($0.07). The company had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $8.23 billion. ONEOK had a net margin of 10.03% and a return on equity of 16.06%. During the same period last year, the firm posted $1.04 earnings per share. As a group, equities research analysts anticipate that ONEOK, Inc. will post 5.65 EPS for the current fiscal year.

ONEOK Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Monday, August 3rd will be given a $1.07 dividend. The ex-dividend date is Monday, August 3rd. This represents a $4.28 dividend on an annualized basis and a yield of 4.8%. ONEOK’s dividend payout ratio (DPR) is currently 76.29%.

ONEOK Company 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.