R Squared Ltd Purchases New Position in ONEOK, Inc. $OKE

R Squared Ltd purchased a new stake in shares of ONEOK, Inc. (NYSE:OKE) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,010 shares of the utilities provider’s stock, valued at approximately $246,000.

Several other institutional investors and hedge funds also recently made changes to their positions in 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 worth $7,461,043,000 after purchasing an additional 5,076,705 shares during the period. Nuveen LLC bought a new stake in ONEOK in the 1st quarter worth approximately $440,535,000. Boston Partners bought a new stake in ONEOK in the 1st quarter worth approximately $353,596,000. Charles Schwab Investment Management Inc. grew 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 worth $2,079,376,000 after purchasing an additional 2,542,449 shares during the period. Finally, Wellington Management Group LLP grew its position in ONEOK by 51.9% in the 1st 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. Institutional investors own 69.13% of the company’s stock.

ONEOK Trading Down 1.7%

Shares of ONEOK stock opened at $68.60 on Friday. The company’s fifty day simple moving average is $72.40 and its 200-day simple moving average is $78.42. The stock has a market capitalization of $43.20 billion, a PE ratio of 13.37, a P/E/G ratio of 2.68 and a beta of 1.01. ONEOK, Inc. has a 1-year low of $66.56 and a 1-year high of $118.07. 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 (NYSE:OKE) last issued its quarterly earnings results on Monday, August 4th. The utilities provider reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.01. ONEOK had a net margin of 11.06% and a return on equity of 14.90%. The business had revenue of $8.21 billion for the quarter, compared to analysts’ expectations of $7.20 billion. During the same quarter last year, the company posted $1.33 EPS. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. As a group, equities analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Monday, November 3rd will be paid a dividend of $1.03 per share. The ex-dividend date is Monday, November 3rd. This represents a $4.12 dividend on an annualized basis and a dividend yield of 6.0%. ONEOK’s payout ratio is 80.31%.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. JPMorgan Chase & Co. lifted their target price 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. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of ONEOK in a research report on Saturday. TD Cowen assumed coverage on shares of ONEOK in a research report on Monday, July 7th. They issued a “hold” rating and a $91.00 target price for the company. Royal Bank Of Canada cut their target price on shares of ONEOK from $94.00 to $88.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 13th. Finally, Morgan Stanley dropped their price target on shares of ONEOK from $122.00 to $110.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, ONEOK currently has an average rating of “Moderate Buy” and an average price target of $96.40.

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.