ONEOK, Inc. $OKE Shares Acquired by Intech Investment Management LLC

Key Points

• Intech Investment Management LLC increased its holding in ONEOK, Inc. by 212.7%, acquiring an additional 68,566 shares to reach a total of 100,803 shares, valued at approximately $10 million.
• Research analysts have mixed ratings on ONEOK, with price targets ranging from $82.00 to $97.00, reflecting varying degrees of optimism about the stock's performance.
• ONEOK recently declared a quarterly $1.03 dividend, translating to an annual yield of 5.6% and a dividend payout ratio of 80.31%, indicating financial health amidst recent market fluctuations.

Intech Investment Management LLC increased its position in ONEOK, Inc. (NYSE:OKE - Free Report) by 212.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 100,803 shares of the utilities provider's stock after buying an additional 68,566 shares during the period. Intech Investment Management LLC's holdings in ONEOK were worth $10,002,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Merit Financial Group LLC increased its position in ONEOK by 11.4% during the first quarter. Merit Financial Group LLC now owns 11,505 shares of the utilities provider's stock worth $1,142,000 after purchasing an additional 1,180 shares during the last quarter. Dark Forest Capital Management LP increased its position in ONEOK by 409.5% during the first quarter. Dark Forest Capital Management LP now owns 40,372 shares of the utilities provider's stock worth $4,006,000 after purchasing an additional 32,448 shares during the last quarter. Capital Investment Advisors LLC increased its position in ONEOK by 3.9% during the first quarter. Capital Investment Advisors LLC now owns 289,997 shares of the utilities provider's stock worth $28,774,000 after purchasing an additional 10,957 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund increased its position in ONEOK by 146.9% during the first quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 18,033 shares of the utilities provider's stock worth $1,789,000 after purchasing an additional 10,728 shares during the last quarter. Finally, Advisor Resource Council acquired a new position in ONEOK during the first quarter worth approximately $511,000. Institutional investors and hedge funds own 69.13% of the company's stock.

Analysts Set New Price Targets

OKE has been the subject of several research analyst reports. Mizuho dropped their price target on shares of ONEOK from $87.00 to $82.00 and set a "neutral" rating for the company in a research report on Friday, August 29th. TD Cowen initiated coverage on shares of ONEOK in a research report on Monday, July 7th. They set a "hold" rating and a $91.00 price target for the company. JPMorgan Chase & Co. upped their price target on shares of ONEOK from $94.00 to $97.00 and gave the stock an "overweight" rating in a research report on Thursday, July 3rd. Raymond James Financial reissued an "outperform" rating on shares of ONEOK in a research report on Friday, August 1st. Finally, Morgan Stanley dropped their price objective on shares of ONEOK from $122.00 to $110.00 and set an "overweight" rating for the company in a research report on Tuesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $100.60.

ONEOK Price Performance

Shares of OKE stock opened at $73.24 on Thursday. The company has a market capitalization of $46.12 billion, a PE ratio of 14.28, a price-to-earnings-growth ratio of 1.71 and a beta of 1.04. The firm has a fifty day simple moving average of $77.52 and a 200-day simple moving average of $83.67. 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, Inc. has a twelve month low of $70.63 and a twelve month high of $118.07.

ONEOK (NYSE:OKE - Get Free Report) last announced its earnings results on Monday, August 4th. The utilities provider reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.01. The business had revenue of $8.21 billion during the quarter, compared to the consensus estimate of $7.20 billion. ONEOK had a net margin of 11.06% and a return on equity of 14.90%. During the same period in the prior year, the firm earned $1.33 earnings per share. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. Equities research analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

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

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