Los Angeles Capital Management LLC Buys 2,064 Shares of ONEOK, Inc. $OKE

Los Angeles Capital Management LLC grew its stake in shares of ONEOK, Inc. (NYSE:OKE) by 5.5% during the second quarter, Holdings Channel.com reports. The institutional investor owned 39,927 shares of the utilities provider’s stock after acquiring an additional 2,064 shares during the quarter. Los Angeles Capital Management LLC’s holdings in ONEOK were worth $3,259,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Fox Run Management L.L.C. bought a new position in ONEOK during the 2nd quarter worth approximately $599,000. Metis Global Partners LLC boosted its position in shares of ONEOK by 13.9% during the second quarter. Metis Global Partners LLC now owns 95,272 shares of the utilities provider’s stock worth $7,777,000 after purchasing an additional 11,632 shares in the last quarter. Legacy Investment Solutions LLC acquired a new position in shares of ONEOK in the 2nd quarter valued at $61,000. KCM Investment Advisors LLC increased its position in shares of ONEOK by 10.0% in the 2nd quarter. KCM Investment Advisors LLC now owns 3,887 shares of the utilities provider’s stock valued at $317,000 after buying an additional 352 shares in the last quarter. Finally, Marco Investment Management LLC lifted its holdings in ONEOK by 5.7% during the second quarter. Marco Investment Management LLC now owns 4,979 shares of the utilities provider’s stock worth $406,000 after acquiring an additional 267 shares in the last quarter. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on OKE. Stifel Nicolaus set a $94.00 price target on ONEOK in a report on Thursday, October 30th. Citigroup dropped their target price on shares of ONEOK from $102.00 to $95.00 and set a “buy” rating on the stock in a report on Friday, October 31st. Wells Fargo & Company reduced their price target on shares of ONEOK from $90.00 to $82.00 and set an “equal weight” rating for the company in a report on Thursday, October 30th. The Goldman Sachs Group restated a “neutral” rating and set a $72.00 price objective on shares of ONEOK in a report on Monday, November 3rd. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $82.00 target price (down from $100.00) on shares of ONEOK in a research note on Friday, October 24th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $91.94.

ONEOK Stock Performance

Shares of OKE stock opened at $67.88 on Tuesday. ONEOK, Inc. has a 12 month low of $64.02 and a 12 month high of $118.07. The company’s fifty day simple moving average is $70.75 and its 200-day simple moving average is $77.02. The firm has a market cap of $42.71 billion, a PE ratio of 12.48, a P/E/G ratio of 2.62 and a beta of 1.05. The company has a quick ratio of 0.46, a current ratio of 0.90 and a debt-to-equity ratio of 1.44.

ONEOK (NYSE:OKE) last issued its quarterly earnings results on Tuesday, October 28th. The utilities provider reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate 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 $9.17 billion for the quarter, compared to analyst estimates of $8.23 billion. During the same period in the previous year, the business earned $1.18 EPS. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. Equities research analysts expect 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 will be paid on Friday, November 14th. Investors of record on Monday, November 3rd will be issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 6.1%. The ex-dividend date is Monday, November 3rd. ONEOK’s dividend payout ratio is presently 75.74%.

Insider Buying and Selling

In related news, Director Brian L. Derksen purchased 2,500 shares of the firm’s stock in a transaction on Monday, November 3rd. The stock was purchased at an average cost of $66.00 per share, for a total transaction of $165,000.00. Following the completion of the purchase, the director directly owned 21,200 shares in the company, valued at $1,399,200. This trade represents a 13.37% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.21% of the company’s stock.

ONEOK Company 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.