Lansforsakringar Fondforvaltning AB publ Grows Stock Holdings in ONEOK, Inc. $OKE

Key Points

• Lansforsakringar Fondforvaltning AB publ has increased its stake in ONEOK, Inc. by 2.9%, acquiring an additional 5,429 shares, bringing its total holdings to 195,466 shares valued at approximately $19.4 million.
• Wall Street analysts have set a consensus target price of $101.93 for ONEOK, with the stock currently rated as a "Moderate Buy" by several investment research firms.
• ONEOK recently reported a quarterly earnings per share (EPS) of $1.34, exceeding expectations, and the company announced a quarterly dividend of $1.03 per share, representing an annualized yield of 5.4%.

Lansforsakringar Fondforvaltning AB publ increased its position in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 2.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 195,466 shares of the utilities provider's stock after acquiring an additional 5,429 shares during the period. Lansforsakringar Fondforvaltning AB publ's holdings in ONEOK were worth $19,394,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Greenline Partners LLC acquired a new stake in ONEOK during the fourth quarter worth $32,000. First Pacific Financial bought a new stake in shares of ONEOK in the 1st quarter valued at about $34,000. Vermillion Wealth Management Inc. acquired a new position in ONEOK in the fourth quarter valued at about $37,000. Financial Network Wealth Advisors LLC increased its stake in ONEOK by 2,466.7% during the 1st quarter. Financial Network Wealth Advisors LLC now owns 385 shares of the utilities provider's stock worth $38,000 after purchasing an additional 370 shares in the last quarter. Finally, MorganRosel Wealth Management LLC acquired a new stake in shares of ONEOK in the 1st quarter valued at about $39,000. Institutional investors and hedge funds own 69.13% of the company's stock.

ONEOK Stock Performance

Shares of ONEOK stock traded down $0.47 during mid-day trading on Wednesday, hitting $74.16. 1,084,613 shares of the stock were exchanged, compared to its average volume of 3,908,015. The company has a market capitalization of $46.70 billion, a P/E ratio of 14.46, a P/E/G ratio of 1.82 and a beta of 1.04. 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 50-day simple moving average of $78.52 and a 200 day simple moving average of $84.63. ONEOK, Inc. has a 12 month low of $72.18 and a 12 month 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 (EPS) for the quarter, beating analysts' consensus estimates of $1.33 by $0.01. The company had revenue of $8.21 billion for 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 period in the previous year, the company posted $1.33 EPS. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. Sell-side analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Friday, August 1st were paid 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 5.6%. ONEOK's dividend payout ratio (DPR) is presently 80.31%.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Royal Bank Of Canada reduced their target price on ONEOK from $94.00 to $88.00 and set a "sector perform" rating for the company in a research note on Wednesday, August 13th. Raymond James Financial reaffirmed an "outperform" rating on shares of ONEOK in a report on Friday, August 1st. Barclays set a $83.00 target price on ONEOK in a research note on Thursday, August 14th. TD Cowen initiated coverage on shares of ONEOK in a report on Monday, July 7th. They issued a "hold" rating and a $91.00 price objective for the company. Finally, Citigroup reduced their price target on 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 issued a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock 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.