Dimensional Fund Advisors LP Buys 681,454 Shares of ONEOK, Inc. $OKE

Key Points

• Dimensional Fund Advisors LP increased its stake in ONEOK, Inc. by 17.1%, acquiring an additional 681,454 shares, bringing its total holdings to approximately 4.66 million shares, valued at $462.65 million.
• Recent analyst reports have resulted in multiple price target adjustments for ONEOK, with a consensus price target of $103.57, reflecting a "Moderate Buy" rating from the majority of analysts.
• ONEOK announced a quarterly dividend of $1.03 per share, resulting in an annualized dividend yield of 5.6%, with a payout ratio currently at 80.31%.

Dimensional Fund Advisors LP increased its stake in ONEOK, Inc. (NYSE:OKE - Free Report) by 17.1% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,663,240 shares of the utilities provider's stock after acquiring an additional 681,454 shares during the quarter. Dimensional Fund Advisors LP owned 0.75% of ONEOK worth $462,653,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in ONEOK by 7.2% during the 1st quarter. Vanguard Group Inc. now owns 75,196,969 shares of the utilities provider's stock valued at $7,461,043,000 after purchasing an additional 5,076,705 shares in the last quarter. Nuveen LLC bought a new stake in ONEOK during the 1st quarter valued at $440,535,000. Boston Partners bought a new stake in ONEOK during the 1st quarter valued at $353,596,000. Charles Schwab Investment Management Inc. increased its stake in ONEOK by 13.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 20,957,230 shares of the utilities provider's stock valued at $2,079,376,000 after purchasing an additional 2,542,449 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of ONEOK by 240.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,790,760 shares of the utilities provider's stock worth $280,194,000 after purchasing an additional 1,971,147 shares during the last quarter. Institutional investors own 69.13% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on OKE. Royal Bank Of Canada decreased their price target on ONEOK from $94.00 to $88.00 and set a "sector perform" rating for the company in a report on Wednesday, August 13th. Raymond James Financial reiterated an "outperform" rating on shares of ONEOK in a report on Friday, August 1st. Citigroup dropped their price target 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. Wells Fargo & Company reduced their price objective on shares of ONEOK from $102.00 to $93.00 and set an "equal weight" rating for the company in a research report on Thursday, May 1st. Finally, Scotiabank set a $92.00 price objective on shares of ONEOK and gave the company a "sector outperform" rating in a research note on Tuesday, July 15th. One 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 stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $103.57.

ONEOK Stock Performance

Shares of NYSE:OKE traded up $0.3690 during midday trading on Tuesday, reaching $73.4090. The company had a trading volume of 2,382,585 shares, compared to its average volume of 3,955,031. ONEOK, Inc. has a 52-week low of $72.18 and a 52-week high of $118.07. The company's 50 day moving average price is $80.04 and its 200 day moving average price is $86.29. The stock has a market cap of $46.23 billion, a P/E ratio of 14.31, a P/E/G ratio of 1.75 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 (NYSE:OKE - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The utilities provider reported $1.34 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 previous year, the business posted $1.33 EPS. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. As a group, sell-side analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Friday, August 1st were paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 5.6%. The ex-dividend date was Friday, August 1st. ONEOK's payout ratio is currently 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.