Amundi Increases Position in ONEOK, Inc. $OKE

Key Points

• Amundi increased its ONEOK position by 7% in the second quarter, bringing its holdings to 4.44 million shares valued at approximately $386.3 million. Institutional investors collectively own 69.13% of the company.
• ONEOK reported quarterly earnings of $1.53 per share, beating estimates of $1.46, while revenue reached $12.05 billion versus the $8.95 billion consensus estimate.
• The stock carries a consensus “Hold” rating with an average price target of $95.50. ONEOK pays a quarterly dividend of $1.07 per share, equivalent to a 4.5% yield and $4.28 annualized.

Amundi increased its holdings in ONEOK, Inc. (NYSE:OKE - Free Report) by 7.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,443,388 shares of the utilities provider's stock after purchasing an additional 289,297 shares during the quarter. Amundi owned 0.70% of ONEOK worth $386,308,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. GTS Securities LLC raised its position in shares of ONEOK by 4.3% in the second quarter. GTS Securities LLC now owns 2,573 shares of the utilities provider's stock valued at $224,000 after purchasing an additional 105 shares during the period. Meridian Wealth Management LLC grew its stake in ONEOK by 1.8% in the 2nd quarter. Meridian Wealth Management LLC now owns 6,598 shares of the utilities provider's stock valued at $574,000 after buying an additional 115 shares in the last quarter. Clearstead Trust LLC grew its stake in ONEOK by 4.7% in the 1st quarter. Clearstead Trust LLC now owns 2,632 shares of the utilities provider's stock valued at $238,000 after buying an additional 117 shares in the last quarter. Hoxton Planning & Management LLC raised its holdings in ONEOK by 2.3% during the 4th quarter. Hoxton Planning & Management LLC now owns 5,372 shares of the utilities provider's stock valued at $395,000 after acquiring an additional 120 shares during the period. Finally, Welch Group LLC raised its holdings in ONEOK by 0.8% during the 1st quarter. Welch Group LLC now owns 14,859 shares of the utilities provider's stock valued at $1,343,000 after acquiring an additional 122 shares during the period. Hedge funds and other institutional investors own 69.13% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Freedom Capital raised ONEOK from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 5th. Morgan Stanley boosted their price objective on ONEOK from $103.00 to $105.00 and gave the company an "equal weight" rating in a research note on Tuesday, August 18th. Jefferies Financial Group increased their price objective on ONEOK from $95.00 to $105.00 and gave the stock a "hold" rating in a report on Wednesday, September 2nd. JPMorgan Chase & Co. raised their target price on ONEOK from $95.00 to $106.00 and gave the stock a "neutral" rating in a research note on Tuesday, September 1st. Finally, TD Cowen lifted their target price on ONEOK from $85.00 to $90.00 and gave the company a "hold" rating in a report on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and eleven have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $95.50.

ONEOK Trading Down 0.2%

Shares of OKE stock opened at $95.25 on Tuesday. The company has a market capitalization of $60.04 billion, a PE ratio of 16.42, a price-to-earnings-growth ratio of 2.66 and a beta of 0.74. ONEOK, Inc. has a 52-week low of $64.02 and a 52-week high of $99.85. The business's fifty day moving average is $91.80 and its 200 day moving average is $89.20. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.59 and a current ratio of 0.74.

ONEOK (NYSE:OKE - Get Free Report) last announced its earnings results on Monday, August 3rd. The utilities provider reported $1.53 earnings per share for the quarter, topping analysts' consensus estimates of $1.46 by $0.07. ONEOK had a return on equity of 16.41% and a net margin of 9.29%.The business had revenue of $12.05 billion for the quarter, compared to analyst estimates of $8.95 billion. During the same period in the prior year, the company earned $1.34 EPS. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. On average, equities research analysts anticipate that ONEOK, Inc. will post 5.84 EPS for the current fiscal year.

ONEOK Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Monday, August 3rd were given a dividend of $1.07 per share. The ex-dividend date was Monday, August 3rd. This represents a $4.28 annualized dividend and a dividend yield of 4.5%. ONEOK's dividend payout ratio is 73.79%.

About ONEOK

ONEOK, Inc NYSE: OKE is a publicly traded midstream energy company headquartered in Tulsa, Oklahoma. The company owns and operates a portfolio of natural gas and natural gas liquids (NGL) pipelines, processing facilities, fractionators and storage and terminal assets. Its operations are focused on gathering, processing, transporting, fractionating and marketing NGLs and interstate natural gas, providing critical infrastructure that connects hydrocarbon production to refineries, petrochemical plants and other end markets.

ONEOK's asset base includes pipeline systems and processing plants that move and condition natural gas, along with infrastructure for the transportation, storage and fractionation of NGLs such as ethane, propane and butane.

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