ONEOK, Inc. $OKE Stock Holdings Increased by Nordea Investment Management AB

Nordea Investment Management AB grew its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 5.1% in the second quarter, according to its most recent filing with the SEC. The firm owned 722,818 shares of the utilities provider’s stock after acquiring an additional 35,359 shares during the quarter. Nordea Investment Management AB owned about 0.11% of ONEOK worth $58,902,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of OKE. Vanguard Group Inc. grew its position in ONEOK by 7.2% in the 1st quarter. Vanguard Group Inc. now owns 75,196,969 shares of the utilities provider’s stock valued at $7,461,043,000 after buying an additional 5,076,705 shares in the last quarter. Nuveen LLC bought a new position in shares of ONEOK in the first quarter valued at approximately $440,535,000. Boston Partners acquired a new position in shares of ONEOK during the first quarter valued at approximately $353,596,000. Charles Schwab Investment Management Inc. raised its holdings in ONEOK by 13.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 20,957,230 shares of the utilities provider’s stock worth $2,079,376,000 after purchasing an additional 2,542,449 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in ONEOK by 51.9% in the first quarter. Wellington Management Group LLP now owns 6,388,987 shares of the utilities provider’s stock worth $633,915,000 after purchasing an additional 2,182,081 shares during the period. 69.13% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently issued reports on OKE. TD Cowen assumed coverage on ONEOK in a research report on Monday, July 7th. They set a “hold” rating and a $91.00 price target on the stock. Royal Bank Of Canada lowered their target price on ONEOK from $94.00 to $88.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 13th. Weiss Ratings reissued a “hold (c+)” rating on shares of ONEOK in a report on Wednesday, October 8th. The Goldman Sachs Group initiated coverage on shares of ONEOK in a research report on Tuesday, September 30th. They set a “neutral” rating and a $75.00 price objective for the company. Finally, Morgan Stanley dropped their target price 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. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, ONEOK has a consensus rating of “Moderate Buy” and an average price target of $98.27.

ONEOK Trading Up 1.3%

Shares of OKE opened at $68.08 on Friday. The business’s 50-day moving average price is $72.92 and its 200 day moving average price is $78.88. The company has a current ratio of 0.59, a quick ratio of 0.46 and a debt-to-equity ratio of 1.35. The stock has a market capitalization of $42.88 billion, a P/E ratio of 13.27, a P/E/G ratio of 1.67 and a beta of 1.01. ONEOK, Inc. has a 1-year low of $66.56 and a 1-year high of $118.07.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Monday, August 4th. The utilities provider reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.01. The company had revenue of $8.21 billion during the quarter, compared to analyst estimates of $7.20 billion. ONEOK had a net margin of 11.06% and a return on equity of 14.90%. During the same period in the prior year, the firm earned $1.33 earnings per share. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. Analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Monday, November 3rd will be given 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 payout ratio is presently 80.31%.

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.