Texas Permanent School Fund Corp Sells 23,238 Shares of ONEOK, Inc. $OKE

Texas Permanent School Fund Corp cut its position in ONEOK, Inc. (NYSE:OKE) by 34.6% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 43,883 shares of the utilities provider’s stock after selling 23,238 shares during the period. Texas Permanent School Fund Corp’s holdings in ONEOK were worth $3,582,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in OKE. Access Investment Management LLC bought a new stake in shares of ONEOK in the second quarter valued at about $33,000. Twin Peaks Wealth Advisors LLC bought a new position in ONEOK during the second quarter worth about $34,000. Trust Co. of Toledo NA OH acquired a new stake in ONEOK in the 2nd quarter worth about $42,000. MTM Investment Management LLC bought a new stake in ONEOK in the 2nd quarter valued at about $44,000. Finally, Total Investment Management Inc. acquired a new position in shares of ONEOK during the 2nd quarter worth approximately $46,000. Institutional investors own 69.13% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on OKE shares. TD Cowen dropped their price target on shares of ONEOK from $78.00 to $76.00 and set a “hold” rating for the company in a research report on Thursday, October 30th. Morgan Stanley dropped their price objective on ONEOK from $122.00 to $110.00 and set an “overweight” rating for the company in a report on Tuesday, August 26th. Raymond James Financial reiterated an “outperform” rating and set a $82.00 target price (down from $100.00) on shares of ONEOK in a research report on Friday, October 24th. The Goldman Sachs Group restated a “neutral” rating and issued a $72.00 price target on shares of ONEOK in a research report on Monday, November 3rd. Finally, Stifel Nicolaus set a $94.00 price objective on shares of ONEOK in a research report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.00.

Insider Buying and Selling at ONEOK

In related news, Director Brian L. Derksen purchased 2,500 shares of the stock in a transaction dated Monday, November 3rd. The stock was bought at an average cost of $66.00 per share, for a total transaction of $165,000.00. Following the completion of the acquisition, the director owned 21,200 shares of the company’s stock, valued at approximately $1,399,200. This represents a 13.37% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.21% of the company’s stock.

ONEOK Stock Performance

NYSE:OKE opened at $71.66 on Friday. 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. The stock’s 50-day simple moving average is $70.27 and its 200 day simple moving average is $74.96. The firm has a market capitalization of $45.09 billion, a PE ratio of 13.17, a price-to-earnings-growth ratio of 4.46 and a beta of 0.95.

ONEOK (NYSE:OKE) last posted its earnings results on Tuesday, October 28th. The utilities provider reported $1.49 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $8.23 billion. During the same quarter in the prior year, the business earned $1.18 earnings per share. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. On average, analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Monday, November 3rd were given a $1.03 dividend. The ex-dividend date was Monday, November 3rd. This represents a $4.12 dividend on an annualized basis and a yield of 5.7%. ONEOK’s dividend payout ratio (DPR) is currently 75.74%.

About ONEOK

ONEOK, Inc engages in gathering, processing, fractionation, storage, transportation, and marketing of natural gas and natural gas liquids (NGL) in the United States. It operates through four segments: Natural Gas Gathering and Processing, Natural Gas Liquids, Natural Gas Pipelines, and Refined Products and Crude.