Canada Pension Plan Investment Board Purchases 98,885 Shares of ONEOK, Inc. $OKE

Key Points

• Canada Pension Plan Investment Board increased its holdings in ONEOK, Inc. by 94.7%, acquiring an additional 98,885 shares, bringing their total to 203,356 shares valued at approximately $20.2 million.
• Recent analyst ratings on ONEOK show a mixed outlook, with target price reductions from firms like Mizuho and Citigroup, while others maintain a "Buy" or "Hold" rating.
• ONEOK recently announced a quarterly dividend of $1.03 per share, translating to an annual yield of 5.4%, with a payout ratio of 80.31%.

Canada Pension Plan Investment Board grew its position in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 94.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 203,356 shares of the utilities provider's stock after purchasing an additional 98,885 shares during the quarter. Canada Pension Plan Investment Board's holdings in ONEOK were worth $20,177,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Lansforsakringar Fondforvaltning AB publ raised its position in shares of ONEOK by 2.9% during the first quarter. Lansforsakringar Fondforvaltning AB publ now owns 195,466 shares of the utilities provider's stock worth $19,394,000 after acquiring an additional 5,429 shares during the last quarter. Northstar Financial Companies Inc. grew its position in ONEOK by 10.9% in the 1st quarter. Northstar Financial Companies Inc. now owns 6,606 shares of the utilities provider's stock valued at $655,000 after purchasing an additional 651 shares during the period. Wealth Preservation Advisors LLC purchased a new position in ONEOK during the 1st quarter worth $101,000. B. Metzler seel. Sohn & Co. AG boosted its holdings in ONEOK by 8.2% during the 1st quarter. B. Metzler seel. Sohn & Co. AG now owns 84,899 shares of the utilities provider's stock worth $8,423,000 after acquiring an additional 6,443 shares during the last quarter. Finally, CreativeOne Wealth LLC boosted its holdings in ONEOK by 4.2% during the 1st quarter. CreativeOne Wealth LLC now owns 18,879 shares of the utilities provider's stock worth $1,873,000 after acquiring an additional 761 shares during the last quarter. 69.13% of the stock is owned by institutional investors and hedge funds.

ONEOK Stock Down 2.4%

Shares of ONEOK stock traded down $1.76 during trading on Friday, hitting $72.62. The company's stock had a trading volume of 4,955,599 shares, compared to its average volume of 3,115,726. 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 fifty day simple moving average of $78.08 and a two-hundred day simple moving average of $84.21. The company has a market capitalization of $45.74 billion, a PE ratio of 14.16, a P/E/G ratio of 1.77 and a beta of 1.04. ONEOK, Inc. has a 52 week low of $70.63 and a 52 week high of $118.07.

ONEOK (NYSE:OKE - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The utilities provider reported $1.34 earnings per share 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 firm had revenue of $8.21 billion during the quarter, compared to the consensus estimate of $7.20 billion. During the same period last year, the company earned $1.33 earnings per share. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. Equities research analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current 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 5.7%. ONEOK's payout ratio is 80.31%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on OKE shares. Raymond James Financial reaffirmed an "outperform" rating on shares of ONEOK in a report on Friday, August 1st. JPMorgan Chase & Co. lifted their target price on ONEOK from $94.00 to $97.00 and gave the stock an "overweight" rating in a research note on Thursday, July 3rd. Scotiabank set a $92.00 price objective on ONEOK and gave the company a "sector outperform" rating in a research note on Tuesday, July 15th. TD Cowen assumed coverage on ONEOK in a research note on Monday, July 7th. They issued a "hold" rating and a $91.00 price objective on the stock. Finally, Morgan Stanley reduced their target price on ONEOK from $122.00 to $110.00 and set an "overweight" rating for the company in a report on Tuesday, August 26th. 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 data from MarketBeat, ONEOK currently has an average rating of "Moderate Buy" and a consensus 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.