Campbell & CO Investment Adviser LLC Raises Stock Holdings in ONEOK, Inc. $OKE

Key Points

• Campbell & CO Investment Adviser LLC significantly increased its holdings in ONEOK, Inc. by 234.7% during the first quarter, owning nearly 20,000 shares valued at approximately $1.96 million.
• Institutional investors collectively own about 69.13% of ONEOK's stock, with multiple hedge funds, including Vanguard and Wellington Management Group, boosting their stakes during the same period.
• ONEOK reported earnings of $1.34 per share for the last quarter, surpassing analyst expectations, and declared a quarterly dividend of $1.03, yielding approximately 5.5%.

Campbell & CO Investment Adviser LLC raised its stake in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 234.7% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 19,775 shares of the utilities provider's stock after purchasing an additional 13,866 shares during the period. Campbell & CO Investment Adviser LLC's holdings in ONEOK were worth $1,962,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Greenline Partners LLC purchased a new position in shares of ONEOK in the fourth quarter valued at about $32,000. First Pacific Financial bought a new position in ONEOK during the first quarter valued at approximately $34,000. Vermillion Wealth Management Inc. bought a new position in ONEOK during the fourth quarter valued at approximately $37,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in ONEOK during the fourth quarter valued at approximately $39,000. Finally, Financial Network Wealth Advisors LLC raised its position in ONEOK by 2,466.7% during the first quarter. Financial Network Wealth Advisors LLC now owns 385 shares of the utilities provider's stock valued at $38,000 after purchasing an additional 370 shares during the period. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on OKE. Mizuho decreased their price objective on ONEOK from $87.00 to $82.00 and set a "neutral" rating on the stock in a research report on Friday. Raymond James Financial reaffirmed an "outperform" rating on shares of ONEOK in a research report on Friday, August 1st. Royal Bank Of Canada dropped their target price 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. TD Cowen began coverage on ONEOK in a research report on Monday, July 7th. They issued a "hold" rating and a $91.00 price objective for the company. Finally, JPMorgan Chase & Co. raised their price objective on ONEOK from $94.00 to $97.00 and gave the stock an "overweight" rating in a research report on Thursday, July 3rd. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $100.60.

ONEOK Stock Performance

OKE stock traded up $0.51 during midday trading on Friday, reaching $76.40. The stock had a trading volume of 2,652,473 shares, compared to its average volume of 3,920,033. The stock has a market cap of $48.12 billion, a PE ratio of 14.89, a P/E/G ratio of 1.78 and a beta of 0.99. 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 firm has a fifty day simple moving average of $78.82 and a two-hundred day simple moving average of $85.19. ONEOK, Inc. has a 52-week low of $72.18 and a 52-week high of $118.07.

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 for the quarter, beating analysts' consensus estimates of $1.33 by $0.01. The business had revenue of $8.21 billion during the quarter, compared to analyst estimates of $7.20 billion. ONEOK had a return on equity of 14.90% and a net margin of 11.06%.During the same quarter last year, the business posted $1.33 EPS. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. As a group, equities research analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Friday, August 1st were paid a dividend of $1.03 per share. The ex-dividend date was Friday, August 1st. This represents a $4.12 dividend on an annualized basis and a dividend yield of 5.4%. ONEOK's dividend payout ratio (DPR) is presently 80.31%.

About ONEOK

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.