Ontario Teachers Pension Plan Board Invests $204.67 Million in ONEOK, Inc. $OKE

Ontario Teachers Pension Plan Board acquired a new stake in ONEOK, Inc. (NYSE:OKE) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 2,354,175 shares of the utilities provider’s stock, valued at approximately $204,672,000. ONEOK makes up 1.3% of Ontario Teachers Pension Plan Board’s portfolio, making the stock its 10th biggest holding. Ontario Teachers Pension Plan Board owned 0.37% of ONEOK at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of OKE. Triune Financial Partners LLC bought a new stake in ONEOK during the 4th quarter worth approximately $1,151,000. Swiss Life Asset Management Ltd raised its stake in shares of ONEOK by 219.5% during the 4th quarter. Swiss Life Asset Management Ltd now owns 1,522,404 shares of the utilities provider’s stock worth $111,897,000 after purchasing an additional 1,045,976 shares during the period. Castle Rock Wealth Management LLC boosted its stake in ONEOK by 360.0% in the fourth quarter. Castle Rock Wealth Management LLC now owns 36,216 shares of the utilities provider’s stock valued at $2,815,000 after acquiring an additional 28,343 shares during the last quarter. First Eagle Investment Management LLC lifted 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 purchasing an additional 3,596,089 shares during the last quarter. Finally, Torray Investment Partners LLC bought a new position in shares of ONEOK during the 4th quarter worth $19,109,000. Institutional investors and hedge funds own 69.13% of the company’s stock.

Wall Street Analyst Weigh In

OKE has been the subject of a number of recent research reports. Barclays reduced their price objective on shares of ONEOK from $90.00 to $88.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 8th. Scotiabank downgraded shares of ONEOK from a “sector outperform” rating to a “sector perform” rating and lowered their target price for the company from $92.00 to $89.00 in a research note on Thursday, April 30th. Wall Street Zen raised ONEOK from a “sell” rating to a “hold” rating in a research note on Sunday, August 9th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of ONEOK in a research note on Thursday, August 13th. Finally, Truist Financial raised their price target on ONEOK from $91.00 to $93.00 and gave the stock a “hold” rating in a research report on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $91.94.

ONEOK Trading Up 2.4%

ONEOK stock opened at $97.58 on Wednesday. ONEOK, Inc. has a 12 month low of $64.02 and a 12 month high of $97.90. The company has a current ratio of 0.74, a quick ratio of 0.59 and a debt-to-equity ratio of 1.34. The business’s fifty day simple moving average is $89.82 and its two-hundred day simple moving average is $87.93. The company has a market capitalization of $61.51 billion, a price-to-earnings ratio of 16.82, a price-to-earnings-growth ratio of 7.10 and a beta of 0.73.

ONEOK (NYSE:OKE) last posted its quarterly earnings results on Monday, August 3rd. The utilities provider reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.07. The firm had revenue of $12.05 billion during the quarter, compared to analyst estimates of $8.95 billion. ONEOK had a return on equity of 16.41% and a net margin of 9.29%.During the same quarter in the previous year, the firm earned $1.34 EPS. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. As a group, equities analysts predict that ONEOK, Inc. will post 5.81 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Monday, August 3rd were given a $1.07 dividend. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $4.28 annualized dividend and a yield of 4.4%. ONEOK’s dividend payout ratio is 73.79%.

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.