American Century Companies Inc. Grows Holdings in ONEOK, Inc. $OKE

Key Points

• American Century Companies Inc. increased its position in ONEOK, Inc. by 22.3%, now owning over 1 million shares valued at approximately $107.9 million.
• ONEOK recently reported $1.34 earnings per share, exceeding expectations, with revenue for the quarter reaching $8.21 billion.
• The company declared a quarterly dividend of $1.03 per share, resulting in an annualized dividend yield of 5.6%.

American Century Companies Inc. grew its position in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 22.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,087,920 shares of the utilities provider's stock after purchasing an additional 198,497 shares during the period. American Century Companies Inc. owned about 0.17% of ONEOK worth $107,944,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC boosted its stake in ONEOK by 137.1% in the fourth quarter. Brighton Jones LLC now owns 15,278 shares of the utilities provider's stock worth $1,534,000 after buying an additional 8,834 shares in the last quarter. Jump Financial LLC purchased a new stake in shares of ONEOK in the 4th quarter valued at $1,942,000. Canada Pension Plan Investment Board boosted its stake in shares of ONEOK by 12.1% in the 4th quarter. Canada Pension Plan Investment Board now owns 104,471 shares of the utilities provider's stock valued at $10,489,000 after purchasing an additional 11,246 shares in the last quarter. Forum Financial Management LP grew its holdings in shares of ONEOK by 40.8% during the 4th quarter. Forum Financial Management LP now owns 7,297 shares of the utilities provider's stock valued at $733,000 after purchasing an additional 2,116 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in ONEOK by 8.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,981,786 shares of the utilities provider's stock worth $399,783,000 after purchasing an additional 299,115 shares during the period. 69.13% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

OKE has been the subject of several analyst reports. Royal Bank Of Canada cut their price target on shares of ONEOK from $94.00 to $88.00 and set a "sector perform" rating for the company in a research report on Wednesday, August 13th. Stifel Nicolaus dropped their target price on ONEOK from $110.00 to $107.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Raymond James Financial restated an "outperform" rating on shares of ONEOK in a research report on Friday, August 1st. Wells Fargo & Company lowered their price objective on 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, Barclays set a $83.00 price objective on ONEOK in a research note on Thursday, August 14th. One 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. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $103.57.

ONEOK Trading Up 0.5%

Shares of OKE stock traded up $0.3690 during trading hours on Tuesday, reaching $73.4090. The company's stock had a trading volume of 2,382,585 shares, compared to its average volume of 3,656,463. The company has a current ratio of 0.59, a quick ratio of 0.46 and a debt-to-equity ratio of 1.35. The stock has a market capitalization of $46.23 billion, a P/E ratio of 14.31, a P/E/G ratio of 1.73 and a beta of 0.99. The firm's fifty day simple moving average is $79.88 and its 200 day simple moving average is $86.20. ONEOK, Inc. has a one year low of $72.18 and a one year high of $118.07.

ONEOK (NYSE:OKE - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The utilities provider reported $1.34 EPS for the quarter, topping analysts' consensus estimates of $1.33 by $0.01. The company had revenue of $8.21 billion during 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 quarter last year, the firm posted $1.33 earnings per share. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. Equities research analysts expect that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Friday, August 1st were issued a dividend of $1.03 per share. The ex-dividend date was Friday, August 1st. This represents a $4.12 dividend on an annualized basis and a dividend yield of 5.6%. ONEOK's dividend payout ratio is 80.31%.

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.