Ilmarinen Mutual Pension Insurance Co Raises Stock Position in ONEOK, Inc. $OKE

Ilmarinen Mutual Pension Insurance Co grew its stake in shares of ONEOK, Inc. (NYSE:OKE) by 14.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 96,000 shares of the utilities provider’s stock after acquiring an additional 12,000 shares during the period. Ilmarinen Mutual Pension Insurance Co’s holdings in ONEOK were worth $9,525,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. First Pacific Financial bought a new position in shares of ONEOK in the 1st quarter worth about $34,000. Vermillion Wealth Management Inc. bought a new stake in shares of ONEOK in the 4th quarter worth approximately $37,000. Financial Network Wealth Advisors LLC raised its holdings in shares of ONEOK by 2,466.7% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 385 shares of the utilities provider’s stock worth $38,000 after purchasing an additional 370 shares in the last quarter. MorganRosel Wealth Management LLC purchased a new position in shares of ONEOK in the first quarter worth approximately $39,000. Finally, Financial Gravity Asset Management Inc. purchased a new position in ONEOK during the first quarter valued at approximately $40,000. 69.13% of the stock is currently owned by institutional investors.

ONEOK Stock Up 0.7%

OKE opened at $71.87 on Wednesday. ONEOK, Inc. has a fifty-two week low of $70.63 and a fifty-two week high of $118.07. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.46 and a current ratio of 0.59. The company has a market capitalization of $45.26 billion, a P/E ratio of 14.01, a P/E/G ratio of 1.70 and a beta of 1.04. The stock has a fifty day moving average of $77.69 and a 200-day moving average of $83.74.

ONEOK (NYSE:OKE) last issued its earnings results on Monday, August 4th. The utilities provider reported $1.34 EPS for the quarter, topping the consensus estimate of $1.33 by $0.01. The firm had revenue of $8.21 billion during the quarter, compared to the consensus estimate of $7.20 billion. ONEOK had a return on equity of 14.90% and a net margin of 11.06%.During the same quarter in the previous year, the firm earned $1.33 earnings per share. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. On average, equities analysts expect that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Friday, August 1st were given a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 5.7%. The ex-dividend date of this dividend was Friday, August 1st. ONEOK’s dividend payout ratio is presently 80.31%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on OKE. Barclays set a $83.00 target price on shares of ONEOK in a research note on Thursday, August 14th. Scotiabank set a $92.00 target price on shares of ONEOK and gave the company a “sector outperform” rating in a research note on Tuesday, July 15th. Royal Bank Of Canada dropped their price objective on shares of ONEOK from $94.00 to $88.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 13th. Morgan Stanley decreased their price objective on shares of ONEOK from $122.00 to $110.00 and set an “overweight” rating on the stock in a report on Tuesday, August 26th. Finally, JPMorgan Chase & Co. increased their price objective on shares of ONEOK from $94.00 to $97.00 and gave the stock an “overweight” rating in a report on Thursday, July 3rd. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $100.60.

ONEOK Profile

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.