MetLife Investment Management LLC Raises Stock Position in ONEOK, Inc. $OKE

Key Points

• MetLife Investment Management LLC increased its stake in ONEOK, Inc. by 4.2% during Q1, now holding 161,573 shares valued at approximately $16 million.
• Several institutional investors, including ICONIQ Capital LLC and Campbell & CO Investment Adviser LLC, significantly boosted their holdings in ONEOK during the same period.
• ONEOK declared a quarterly dividend of $1.03 per share, with a current dividend yield of 5.5% and a payout ratio of 80.31%.

MetLife Investment Management LLC lifted its stake in ONEOK, Inc. (NYSE:OKE - Free Report) by 4.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 161,573 shares of the utilities provider's stock after buying an additional 6,531 shares during the period. MetLife Investment Management LLC's holdings in ONEOK were worth $16,031,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in shares of ONEOK by 7.2% in the 1st quarter. Vanguard Group Inc. now owns 75,196,969 shares of the utilities provider's stock valued at $7,461,043,000 after purchasing an additional 5,076,705 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of ONEOK by 13.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 20,957,230 shares of the utilities provider's stock worth $2,079,376,000 after acquiring an additional 2,542,449 shares during the last quarter. Invesco Ltd. increased its holdings in shares of ONEOK by 25.1% in the 1st quarter. Invesco Ltd. now owns 8,339,939 shares of the utilities provider's stock valued at $827,489,000 after acquiring an additional 1,674,706 shares during the period. Tortoise Capital Advisors L.L.C. increased its holdings in shares of ONEOK by 17.1% in the 1st quarter. Tortoise Capital Advisors L.L.C. now owns 7,171,795 shares of the utilities provider's stock valued at $711,586,000 after acquiring an additional 1,047,810 shares during the period. Finally, Northern Trust Corp boosted its stake in ONEOK by 5.3% during the 1st quarter. Northern Trust Corp now owns 6,879,863 shares of the utilities provider's stock worth $682,620,000 after purchasing an additional 344,002 shares during the period. 69.13% of the stock is owned by hedge funds and other institutional investors.

ONEOK Trading Up 1.1%

Shares of ONEOK stock traded up $0.83 during mid-day trading on Thursday, hitting $75.91. 2,461,000 shares of the stock were exchanged, compared to its average volume of 3,927,762. The stock has a market capitalization of $47.80 billion, a price-to-earnings ratio of 14.80, a price-to-earnings-growth ratio of 1.76 and a beta of 0.99. ONEOK, Inc. has a twelve month low of $72.18 and a twelve month high of $118.07. 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 company has a 50-day simple moving average of $78.93 and a 200 day simple moving average of $85.35.

ONEOK (NYSE:OKE - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The utilities provider reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.01. The business had revenue of $8.21 billion for 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 quarter in the prior year, the firm posted $1.33 earnings per share. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. Research analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Friday, August 1st were paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 5.4%. The ex-dividend date of this dividend was Friday, August 1st. ONEOK's dividend payout ratio (DPR) is presently 80.31%.

Wall Street Analyst Weigh In

A number of research firms have commented on OKE. Raymond James Financial restated an "outperform" rating on shares of ONEOK in a research note on Friday, August 1st. JPMorgan Chase & Co. boosted their price target on ONEOK from $94.00 to $97.00 and gave the company an "overweight" rating in a research report on Thursday, July 3rd. Citigroup decreased their price objective on ONEOK from $110.00 to $102.00 and set a "buy" rating for the company in a research report on Tuesday, May 6th. Scotiabank set a $92.00 price target on ONEOK and gave the stock a "sector outperform" rating in a report on Tuesday, July 15th. Finally, Barclays set a $83.00 price objective on shares of ONEOK in a research note on Thursday, August 14th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $101.93.

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.