Nykredit A S Invests $23.40 Million in ONEOK, Inc. $OKE

Key Points

• Nykredit A/S acquired a new $23.4 million stake in ONEOK, purchasing 269,182 shares during the second quarter. Institutional investors now own 69.13% of the company.
• Analysts remain generally cautious, with a consensus “Hold” rating and an average price target of $96.06. Recent target increases from Truist and JPMorgan range from $104 to $106.
• ONEOK exceeded quarterly expectations, reporting $1.53 in earnings per share versus a $1.46 estimate and $12.05 billion in revenue. The company also pays a quarterly dividend of $1.07 per share, equal to a 4.6% annualized yield.

Nykredit A S acquired a new stake in ONEOK, Inc. (NYSE:OKE - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 269,182 shares of the utilities provider's stock, valued at approximately $23,403,000.

Other hedge funds have also added to or reduced their stakes in the company. Parkside Financial Bank & Trust boosted its position in ONEOK by 17.9% during the second quarter. Parkside Financial Bank & Trust now owns 5,016 shares of the utilities provider's stock valued at $436,000 after purchasing an additional 762 shares in the last quarter. Alternative Investment Advisors LLC. raised its holdings in ONEOK by 1.6% in the second quarter. Alternative Investment Advisors LLC. now owns 13,199 shares of the utilities provider's stock worth $1,148,000 after purchasing an additional 206 shares in the last quarter. Corient Private Wealth LP lifted its position in shares of ONEOK by 6.1% during the second quarter. Corient Private Wealth LP now owns 200,232 shares of the utilities provider's stock valued at $17,408,000 after buying an additional 11,533 shares during the last quarter. Amundi boosted its holdings in shares of ONEOK by 7.0% in the 2nd quarter. Amundi now owns 4,443,388 shares of the utilities provider's stock valued at $386,308,000 after buying an additional 289,297 shares in the last quarter. Finally, First Eagle Investment Management LLC grew its position in shares of ONEOK by 1.3% in the 2nd quarter. First Eagle Investment Management LLC now owns 11,834,827 shares of the utilities provider's stock worth $1,028,920,000 after buying an additional 155,652 shares during the last quarter. 69.13% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

OKE has been the subject of several analyst reports. Wall Street Zen upgraded ONEOK from a "sell" rating to a "hold" rating in a report on Sunday, August 9th. Truist Financial boosted their target price on ONEOK from $93.00 to $104.00 and gave the stock a "hold" rating in a research note on Wednesday, September 2nd. JPMorgan Chase & Co. upped their target price on ONEOK from $95.00 to $106.00 and gave the company a "neutral" rating in a research report on Tuesday, September 1st. UBS Group set a $93.00 price target on shares of ONEOK in a report on Friday, September 11th. Finally, TD Cowen lifted their target price on ONEOK from $90.00 to $93.00 and gave the stock a "hold" rating in a report on Friday, September 11th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $96.06.

ONEOK Price Performance

NYSE:OKE opened at $93.51 on Friday. The stock has a 50 day moving average of $93.00 and a two-hundred day moving average of $89.81. ONEOK, Inc. has a 12 month low of $64.02 and a 12 month high of $99.85. The firm has a market cap of $58.95 billion, a P/E ratio of 16.12, a price-to-earnings-growth ratio of 2.65 and a beta of 0.74. The company has a current ratio of 0.74, a quick ratio of 0.59 and a debt-to-equity ratio of 1.34.

ONEOK (NYSE:OKE - Get Free Report) last posted its quarterly earnings results on Monday, August 3rd. The utilities provider reported $1.53 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.07. The firm had revenue of $12.05 billion for the quarter, compared to the consensus estimate of $8.95 billion. ONEOK had a net margin of 9.29% and a return on equity of 16.41%. During the same period last year, the firm posted $1.34 earnings per share. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. On average, analysts expect that ONEOK, Inc. will post 5.74 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Monday, August 3rd were issued a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date was Monday, August 3rd. ONEOK's dividend payout ratio (DPR) is 73.79%.

ONEOK Profile

ONEOK, Inc NYSE: OKE is an energy infrastructure company that gathers, processes, stores and transports natural gas and natural gas liquids (NGLs). Its operations connect production areas with domestic and international markets through pipelines, processing facilities, fractionation plants, storage assets and export infrastructure.

The company's services include natural gas gathering and processing, interstate and intrastate natural gas transportation and storage, and the gathering, fractionation, storage and transportation of NGLs such as ethane, propane, normal butane, isobutane and natural gasoline.

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