ONEOK, Inc. $OKE Stock Position Increased by Smart Portfolios LLC

Smart Portfolios LLC boosted its position in ONEOK, Inc. (NYSE:OKE) by 3.3% during the 2nd quarter, HoldingsChannel reports. The firm owned 5,160 shares of the utilities provider’s stock after buying an additional 165 shares during the quarter. Smart Portfolios LLC’s holdings in ONEOK were worth $421,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted 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 purchasing an additional 5,076,705 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in ONEOK by 13.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 20,957,230 shares of the utilities provider’s stock valued at $2,079,376,000 after purchasing an additional 2,542,449 shares during the last quarter. Invesco Ltd. lifted its position in ONEOK by 25.1% in the 1st quarter. Invesco Ltd. now owns 8,339,939 shares of the utilities provider’s stock valued at $827,489,000 after purchasing an additional 1,674,706 shares during the last quarter. Tortoise Capital Advisors L.L.C. lifted its position in ONEOK by 17.1% in the 1st quarter. Tortoise Capital Advisors L.L.C. now owns 7,171,795 shares of the utilities provider’s stock valued at $711,586,000 after purchasing an additional 1,047,810 shares during the last quarter. Finally, Northern Trust Corp lifted its position in ONEOK by 5.3% in the 1st quarter. Northern Trust Corp now owns 6,879,863 shares of the utilities provider’s stock valued at $682,620,000 after purchasing an additional 344,002 shares during the last quarter. 69.13% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of ONEOK in a research report on Wednesday, October 8th. Raymond James Financial restated an “outperform” rating on shares of ONEOK in a research report on Friday, August 1st. JPMorgan Chase & Co. boosted their price target on shares of ONEOK from $94.00 to $97.00 and gave the stock an “overweight” rating in a research report on Thursday, July 3rd. The Goldman Sachs Group started coverage on shares of ONEOK in a research report on Tuesday, September 30th. They set a “neutral” rating and a $75.00 price target on the stock. Finally, Barclays dropped their price target on shares of ONEOK from $83.00 to $78.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $98.69.

ONEOK Stock Performance

Shares of OKE opened at $69.59 on Wednesday. The firm’s 50 day moving average is $73.34 and its 200-day moving average is $79.54. The stock has a market capitalization of $43.82 billion, a P/E ratio of 13.56, a P/E/G ratio of 1.70 and a beta of 1.01. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.59 and a quick ratio of 0.46. ONEOK, Inc. has a 12-month low of $68.25 and a 12-month high of $118.07.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Monday, August 4th. The utilities provider reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.01. The company had revenue of $8.21 billion for the quarter, compared to analysts’ expectations of $7.20 billion. ONEOK had a net margin of 11.06% and a return on equity of 14.90%. During the same quarter in the previous year, the company posted $1.33 EPS. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. Equities research analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

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.