Cbre Investment Management Listed Real Assets LLC Increases Stock Position in ONEOK, Inc. $OKE

Key Points

• Cbre Investment Management Listed Real Assets LLC increased its stake in ONEOK, Inc. by 135.4%, acquiring an additional 463,365 shares and bringing its total to 805,599 shares, valued at approximately $79.9 million.
• Analysts set a consensus price target of $103.57 for ONEOK, with ratings ranging from Strong Buy to Hold among different investment analysts.
• ONEOK recently announced a quarterly dividend of $1.03 per share, resulting in an annualized dividend yield of 5.5%.

Cbre Investment Management Listed Real Assets LLC lifted its holdings in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 135.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 805,599 shares of the utilities provider's stock after purchasing an additional 463,365 shares during the quarter. ONEOK accounts for 1.2% of Cbre Investment Management Listed Real Assets LLC's holdings, making the stock its 29th largest position. Cbre Investment Management Listed Real Assets LLC owned 0.13% of ONEOK worth $79,932,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Greenline Partners LLC bought a new position in ONEOK in the fourth quarter valued at approximately $32,000. First Pacific Financial bought a new position in ONEOK in the first quarter valued at approximately $34,000. Vermillion Wealth Management Inc. bought a new position in ONEOK in the fourth quarter valued at approximately $37,000. Financial Network Wealth Advisors LLC increased 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 valued at $38,000 after acquiring an additional 370 shares during the last quarter. Finally, Marshall & Sterling Wealth Advisors Inc. bought a new position in ONEOK in the fourth quarter valued at approximately $39,000. 69.13% of the stock is owned by institutional investors.

ONEOK Trading Up 0.9%

OKE stock traded up $0.70 during midday trading on Wednesday, hitting $75.12. The stock had a trading volume of 2,301,880 shares, compared to its average volume of 3,936,755. The firm has a market cap of $47.31 billion, a P/E ratio of 14.64, a price-to-earnings-growth ratio of 1.76 and a beta of 0.99. The company has a current ratio of 0.59, a quick ratio of 0.46 and a debt-to-equity ratio of 1.35. ONEOK, Inc. has a 1-year low of $72.18 and a 1-year high of $118.07. The business has a fifty day moving average price of $79.05 and a two-hundred day moving average price of $85.42.

ONEOK (NYSE:OKE - Get Free Report) last announced its quarterly earnings data 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. The firm had revenue of $8.21 billion for the quarter, compared to analyst estimates of $7.20 billion. ONEOK had a net margin of 11.06% and a return on equity of 14.90%. During the same quarter in the prior year, the business earned $1.33 earnings per share. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. On average, sell-side analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Friday, August 1st were given a dividend of $1.03 per share. The ex-dividend date of this dividend was Friday, August 1st. This represents a $4.12 annualized dividend and a dividend yield of 5.5%. ONEOK's payout ratio is presently 80.31%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on OKE. Barclays set a $83.00 price objective on shares of ONEOK in a research note on Thursday, August 14th. Scotiabank set a $92.00 target price on shares of ONEOK and gave the company a "sector outperform" rating in a research report on Tuesday, July 15th. Stifel Nicolaus cut their target price on shares of ONEOK from $110.00 to $107.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Wells Fargo & Company cut their target price on shares of 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, Citigroup cut their target price on shares of ONEOK from $110.00 to $102.00 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $101.93.

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.