North Dakota State Investment Board Makes New $1.58 Million Investment in ONEOK, Inc. $OKE

North Dakota State Investment Board purchased a new position in shares of ONEOK, Inc. (NYSE:OKE – Free Report) during the fourth quarter, HoldingsChannel reports. The institutional investor purchased 21,427 shares of the utilities provider’s stock, valued at approximately $1,575,000.

A number of other institutional investors have also recently bought and sold shares of the stock. Disciplined Investments LLC grew its holdings in ONEOK by 0.6% in the fourth quarter. Disciplined Investments LLC now owns 21,577 shares of the utilities provider’s stock valued at $1,586,000 after purchasing an additional 125 shares during the period. TCV Trust & Wealth Management Inc. grew its holdings in ONEOK by 4.2% in the fourth quarter. TCV Trust & Wealth Management Inc. now owns 3,290 shares of the utilities provider’s stock valued at $242,000 after purchasing an additional 133 shares during the period. Empowered Funds LLC grew its holdings in ONEOK by 0.8% in the first quarter. Empowered Funds LLC now owns 17,957 shares of the utilities provider’s stock valued at $1,782,000 after purchasing an additional 137 shares during the period. Fourpath Capital Management LLC grew its holdings in ONEOK by 1.6% in the fourth quarter. Fourpath Capital Management LLC now owns 8,628 shares of the utilities provider’s stock valued at $634,000 after purchasing an additional 140 shares during the period. Finally, JFS Wealth Advisors LLC grew its holdings in ONEOK by 8.4% in the fourth quarter. JFS Wealth Advisors LLC now owns 1,864 shares of the utilities provider’s stock valued at $137,000 after purchasing an additional 144 shares during the period. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

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ONEOK Trading Up 1.5%

NYSE OKE opened at $95.15 on Wednesday. The company’s fifty day simple moving average is $88.09 and its 200-day simple moving average is $80.02. ONEOK, Inc. has a 52 week low of $64.02 and a 52 week high of $95.65. 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 cap of $59.95 billion, a P/E ratio of 16.96, a PEG ratio of 6.82 and a beta of 0.78.

ONEOK (NYSE:OKE – Get Free Report) last posted its earnings results on Tuesday, April 28th. The utilities provider reported $1.23 EPS for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.07). ONEOK had a return on equity of 16.06% and a net margin of 10.03%.The firm had revenue of $9.62 billion for the quarter, compared to analyst estimates of $8.23 billion. During the same period in the previous year, the firm posted $1.04 earnings per share. ONEOK has set its FY 2026 guidance at 5.530-5.530 EPS. Equities research analysts predict that ONEOK, Inc. will post 5.76 EPS for the current fiscal year.

ONEOK Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Monday, May 4th were issued a $1.07 dividend. The ex-dividend date was Monday, May 4th. This represents a $4.28 dividend on an annualized basis and a yield of 4.5%. ONEOK’s payout ratio is currently 76.29%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on OKE shares. Weiss Ratings restated a “hold (c+)” rating on shares of ONEOK in a report on Monday, May 4th. Jefferies Financial Group lifted their price target on shares of ONEOK from $98.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, April 8th. Morgan Stanley lifted their price target on shares of ONEOK from $104.00 to $113.00 and gave the company an “overweight” rating in a research report on Tuesday, April 7th. JPMorgan Chase & Co. lifted their price target on shares of ONEOK from $91.00 to $92.00 and gave the company a “neutral” rating in a research report on Friday, May 8th. Finally, Mizuho set a $89.00 price target on shares of ONEOK in a research report on Monday, February 23rd. Seven equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, ONEOK currently has a consensus rating of “Hold” and an average price target of $91.88.

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ONEOK Company Profile

(Free Report)

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.

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Want to see what other hedge funds are holding OKE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ONEOK, Inc. (NYSE:OKE – Free Report).

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