Alliancebernstein L.P. Grows Stock Position in ONEOK, Inc. $OKE

Key Points

• Alliancebernstein L.P. increased its stake in ONEOK, Inc. by 4.8%, owning approximately 674,710 shares worth $66.9 million as of the latest SEC filing.
• ONEOK's latest quarterly earnings report showed an EPS of $1.34, exceeding expectations, along with a revenue of $8.21 billion, which also surpassed analyst forecasts.
• The company announced a quarterly dividend of $1.03 per share, reflecting a 5.7% yield, and has set a 2025 EPS guidance of 5.370.

Alliancebernstein L.P. raised its holdings in ONEOK, Inc. (NYSE:OKE - Free Report) by 4.8% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 674,710 shares of the utilities provider's stock after acquiring an additional 31,029 shares during the quarter. Alliancebernstein L.P. owned approximately 0.11% of ONEOK worth $66,945,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Brighton Jones LLC grew its position in shares of ONEOK by 137.1% during the 4th quarter. Brighton Jones LLC now owns 15,278 shares of the utilities provider's stock worth $1,534,000 after buying an additional 8,834 shares in the last quarter. Balyasny Asset Management L.P. boosted its position in ONEOK by 8.3% during the fourth quarter. Balyasny Asset Management L.P. now owns 33,839 shares of the utilities provider's stock valued at $3,397,000 after purchasing an additional 2,582 shares in the last quarter. CoreCap Advisors LLC boosted its position in ONEOK by 10.7% during the fourth quarter. CoreCap Advisors LLC now owns 3,864 shares of the utilities provider's stock valued at $388,000 after purchasing an additional 374 shares in the last quarter. Fred Alger Management LLC boosted its position in ONEOK by 4.9% during the fourth quarter. Fred Alger Management LLC now owns 42,459 shares of the utilities provider's stock valued at $4,263,000 after purchasing an additional 1,989 shares in the last quarter. Finally, Ensign Peak Advisors Inc boosted its position in ONEOK by 6.0% during the fourth quarter. Ensign Peak Advisors Inc now owns 340,480 shares of the utilities provider's stock valued at $34,184,000 after purchasing an additional 19,199 shares in the last quarter. Institutional investors own 69.13% of the company's stock.

ONEOK Trading Down 2.4%

Shares of NYSE:OKE opened at $72.62 on Friday. ONEOK, Inc. has a 52-week low of $70.63 and a 52-week high of $118.07. The stock has a market cap of $45.74 billion, a price-to-earnings ratio of 14.16, a PEG ratio of 1.73 and a beta of 1.04. The company has a quick ratio of 0.46, a current ratio of 0.59 and a debt-to-equity ratio of 1.35. The business has a 50-day moving average price of $78.08 and a 200-day moving average price of $84.11.

ONEOK (NYSE:OKE - Get Free Report) 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. ONEOK had a return on equity of 14.90% and a net margin of 11.06%.The firm had revenue of $8.21 billion during the quarter, compared to analysts' expectations of $7.20 billion. During the same period last year, the business posted $1.33 earnings per share. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. Equities analysts predict that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Dividend Announcement

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 dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 5.7%. The ex-dividend date was Friday, August 1st. ONEOK's dividend payout ratio (DPR) is currently 80.31%.

Analyst Upgrades and Downgrades

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

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