BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Increases Holdings in ONEOK, Inc. $OKE

Key Points

• BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in ONEOK, Inc. by 6.1%, owning 118,723 shares valued at approximately $11.78 million as of the latest report.
• Analyst ratings for ONEOK show a consensus of "Moderate Buy", with a price target average of $103.57, influenced by various firms adjusting their target prices.
• ONEOK reported earnings of $1.34 per share, surpassing estimates, and announced a quarterly dividend of $1.03, yielding 5.5%.

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 6.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 118,723 shares of the utilities provider's stock after acquiring an additional 6,872 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in ONEOK were worth $11,780,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Greenline Partners LLC bought a new position in ONEOK during the 4th quarter valued at approximately $32,000. First Pacific Financial purchased a new position in shares of ONEOK during the first quarter valued at approximately $34,000. Vermillion Wealth Management Inc. bought a new position in shares of ONEOK during the fourth quarter valued at approximately $37,000. Financial Network Wealth Advisors LLC lifted its stake in ONEOK by 2,466.7% in the first quarter. Financial Network Wealth Advisors LLC now owns 385 shares of the utilities provider's stock worth $38,000 after acquiring an additional 370 shares during the period. Finally, Marshall & Sterling Wealth Advisors Inc. purchased a new stake in ONEOK in the fourth quarter worth $39,000. 69.13% of the stock is owned by institutional investors.

ONEOK Stock Up 0.5%

Shares of OKE traded up $0.40 on Friday, hitting $76.29. 1,312,312 shares of the stock traded hands, compared to its average volume of 3,911,445. ONEOK, Inc. has a one year low of $72.18 and a one year high of $118.07. The company has a market capitalization of $48.04 billion, a PE ratio of 14.85, a P/E/G ratio of 1.78 and a beta of 0.99. The business has a 50 day simple moving average of $78.82 and a 200 day simple moving average of $85.19. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.46 and a current ratio of 0.59.

ONEOK (NYSE:OKE - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The utilities provider reported $1.34 earnings per share (EPS) for the quarter, beating 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 business had revenue of $8.21 billion for the quarter, compared to analysts' expectations of $7.20 billion. During the same period in the prior year, the firm posted $1.33 EPS. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. As a group, equities analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Friday, August 1st were given a $1.03 dividend. The ex-dividend date of this dividend was Friday, August 1st. This represents a $4.12 dividend on an annualized basis and a yield of 5.4%. ONEOK's payout ratio is 80.31%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on OKE shares. TD Cowen started coverage on shares of ONEOK in a research report on Monday, July 7th. They set a "hold" rating and a $91.00 price objective on the stock. Raymond James Financial reiterated an "outperform" rating on shares of ONEOK in a research report on Friday, August 1st. Citigroup lowered their price objective on shares of ONEOK from $110.00 to $102.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. Wells Fargo & Company dropped their price target on ONEOK from $102.00 to $93.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 1st. Finally, Stifel Nicolaus decreased their price target on shares of ONEOK from $110.00 to $107.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, ONEOK presently has a consensus rating of "Moderate Buy" and a consensus price target of $100.60.

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.