Allspring Global Investments Holdings LLC Buys 24,378 Shares of ONEOK, Inc. $OKE

Key Points

• Allspring Global Investments Holdings LLC increased its stake in ONEOK, Inc. by 6.9%, acquiring an additional 24,378 shares, bringing their total holdings to 377,882 shares worth approximately $30.6 million.
• ONEOK reported a Q2 EPS of $1.34, surpassing analyst expectations of $1.33, while its revenue reached $8.21 billion, exceeding estimates of $7.20 billion.
• The stock has seen analyst ratings range from a Strong Buy to a Hold, with a consensus price target of $98.69.

Allspring Global Investments Holdings LLC lifted its stake in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 6.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 377,882 shares of the utilities provider's stock after acquiring an additional 24,378 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.06% of ONEOK worth $30,605,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. GW Henssler & Associates Ltd. grew its stake in shares of ONEOK by 1.4% during the 2nd quarter. GW Henssler & Associates Ltd. now owns 133,113 shares of the utilities provider's stock valued at $10,866,000 after acquiring an additional 1,872 shares during the period. Quantum Financial Planning Services Inc. bought a new position in shares of ONEOK during the 2nd quarter valued at approximately $506,000. CWM LLC grew its stake in shares of ONEOK by 3.1% during the 2nd quarter. CWM LLC now owns 43,703 shares of the utilities provider's stock valued at $3,567,000 after acquiring an additional 1,323 shares during the period. Advocate Group LLC bought a new position in shares of ONEOK during the 2nd quarter valued at approximately $219,000. Finally, Vanguard Personalized Indexing Management LLC grew its stake in shares of ONEOK by 12.3% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 65,005 shares of the utilities provider's stock valued at $5,314,000 after acquiring an additional 7,116 shares during the period. 69.13% of the stock is currently owned by institutional investors.

ONEOK Stock Down 1.0%

NYSE OKE opened at $68.89 on Thursday. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.46 and a current ratio of 0.59. The company has a market capitalization of $43.38 billion, a P/E ratio of 13.43, a P/E/G ratio of 1.70 and a beta of 1.01. ONEOK, Inc. has a one year low of $68.25 and a one year high of $118.07. The stock has a 50 day moving average price of $73.21 and a 200-day moving average price of $79.46.

ONEOK (NYSE:OKE - Get Free Report) last posted its earnings results on Monday, August 4th. The utilities provider reported $1.34 EPS for the quarter, beating analysts' consensus estimates 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 the consensus estimate of $7.20 billion. During the same period in the prior year, the company earned $1.33 EPS. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. As a group, equities analysts predict that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on OKE shares. The Goldman Sachs Group initiated coverage on ONEOK in a research note on Tuesday, September 30th. They set a "neutral" rating and a $75.00 price objective for the company. TD Cowen initiated coverage on ONEOK in a research note on Monday, July 7th. They issued a "hold" rating and a $91.00 price target for the company. Morgan Stanley dropped their price target on ONEOK from $122.00 to $110.00 and set an "overweight" rating for the company in a research note on Tuesday, August 26th. Royal Bank Of Canada dropped their price target on ONEOK from $94.00 to $88.00 and set a "sector perform" rating for the company in a research note on Wednesday, August 13th. Finally, Barclays dropped their price target on ONEOK from $83.00 to $78.00 and set an "equal weight" rating for the company in a research note on Thursday, October 9th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $98.69.

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.

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