Louisiana State Employees Retirement System Makes New $2.47 Million Investment in ONEOK, Inc. (NYSE:OKE)

The Louisiana State Employees Retirement System (LASERS) is a pension fund that manages retirement benefits for over 100,000 current and retired employees of the state of Louisiana and its political subdivisions. In the fourth quarter of 2021, LASERS made a new investment in ONEOK, Inc. (NYSE: OKS), a leading energy infrastructure company based in Tulsa, Oklahoma.

According to the most recent filing with the Securities and Exchange Commission (SEC), LASERS purchased 35,200 shares of ONEOK's stock during the quarter, representing an investment of approximately $2,472,000. This investment marks a new position for LASERS in the utilities provider.

ONEOK is engaged in the production and transportation of natural gas and natural gas liquids (NGLs). The company operates through three segments: Natural Gas Gathering and Processing, Natural Gas Liquids (NGLs), and Natural Gas Distribution. ONEOK's Natural Gas Gathering and Processing segment gathers, processes, and transports natural gas from various sources to market centers and major pipeline interconnections. The Natural Gas Liquids segment fractionates NGLs into ethane, propane, butane, and isobutane, which are then marketed to customers. The Natural Gas Distribution segment distributes natural gas to approximately 1.9 million customers in the central and south central United States.

The investment by LASERS in ONEOK could be seen as a strategic move given the company's strong financial performance and growth prospects. In the third quarter of 2021, ONEOK reported earnings of $0.93 per share, beating analysts' estimates by $0.08 per share. The company's revenue for the quarter came in at $3.3 billion, up from $3.1 billion in the same period last year.

Furthermore, the energy infrastructure sector, including companies like ONEOK, has been benefiting from the ongoing energy transition and the increasing demand for natural gas as a cleaner alternative to coal and oil. The Biden administration's infrastructure bill, which includes provisions for expanding the use of natural gas and other clean energy sources, could also provide a boost to the sector.

Other hedge funds and institutional investors have also been investing in ONEOK. For instance, D E Shaw & Co. LP, a leading global investment firm, increased its stake in ONEOK by 11% during the third quarter of 2021, according to its latest SEC filing.

In summary, the Louisiana State Employees Retirement System made a new investment of approximately $2.47 million in ONEOK, Inc., a leading energy infrastructure company, during the fourth quarter of 2021. The investment represents a strategic move given the company's strong financial performance and growth prospects in the energy sector. Other institutional investors have also been investing in ONEOK, further validating its potential as an attractive investment opportunity.