KLP Kapitalforvaltning AS Grows Stock Position in ONEOK, Inc. $OKE

KLP Kapitalforvaltning AS boosted its holdings in ONEOK, Inc. (NYSE:OKE - Free Report) by 7.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 253,347 shares of the utilities provider's stock after acquiring an additional 17,700 shares during the quarter. KLP Kapitalforvaltning AS's holdings in ONEOK were worth $20,681,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the business. Brighton Jones LLC grew its holdings in ONEOK by 137.1% in the fourth quarter. Brighton Jones LLC now owns 15,278 shares of the utilities provider's stock valued at $1,534,000 after purchasing an additional 8,834 shares during the last quarter. UMB Bank n.a. grew its holdings in ONEOK by 3.8% in the first quarter. UMB Bank n.a. now owns 7,289 shares of the utilities provider's stock valued at $723,000 after purchasing an additional 268 shares during the last quarter. Patriot Financial Group Insurance Agency LLC grew its holdings in ONEOK by 16.3% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 2,461 shares of the utilities provider's stock valued at $244,000 after purchasing an additional 345 shares during the last quarter. Park Avenue Securities LLC grew its holdings in ONEOK by 2.8% in the first quarter. Park Avenue Securities LLC now owns 7,816 shares of the utilities provider's stock valued at $776,000 after purchasing an additional 214 shares during the last quarter. Finally, Portside Wealth Group LLC grew its holdings in ONEOK by 5.2% in the first quarter. Portside Wealth Group LLC now owns 11,136 shares of the utilities provider's stock valued at $1,105,000 after purchasing an additional 555 shares during the last quarter. Hedge funds and other institutional investors own 69.13% of the company's stock.

Analyst Upgrades and Downgrades

OKE has been the topic of a number of analyst reports. Royal Bank Of Canada decreased their price objective on ONEOK from $94.00 to $88.00 and set a "sector perform" rating on the stock in a research note on Wednesday, August 13th. Scotiabank set a $92.00 target price on ONEOK and gave the stock a "sector outperform" rating in a research report on Tuesday, July 15th. Morgan Stanley decreased their price target on ONEOK from $122.00 to $110.00 and set an "overweight" rating on the stock in a research note on Tuesday, August 26th. Barclays set a $83.00 price objective on shares of ONEOK in a report on Thursday, August 14th. Finally, JPMorgan Chase & Co. boosted their target price on shares of ONEOK from $94.00 to $97.00 and gave the company an "overweight" rating in a report on Thursday, July 3rd. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $99.00.

ONEOK Stock Performance

Shares of NYSE:OKE opened at $72.42 on Wednesday. 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, Inc. has a one year low of $70.63 and a one year high of $118.07. The business's 50-day simple moving average is $74.28 and its 200 day simple moving average is $80.59. The company has a market cap of $45.61 billion, a P/E ratio of 14.12, a PEG ratio of 1.79 and a beta of 1.01.

ONEOK (NYSE:OKE - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The utilities provider reported $1.34 earnings per share (EPS) for the quarter, topping 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 company had revenue of $8.21 billion for the quarter, compared to the consensus estimate of $7.20 billion. During the same period in the previous year, the business earned $1.33 EPS. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. On average, sell-side analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Friday, August 1st were issued a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date was Friday, August 1st. ONEOK's payout ratio is 80.31%.

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.

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