ONEOK, Inc. $OKE Shares Bought by AQR Capital Management LLC

Key Points

• AQR Capital Management LLC increased its holdings in ONEOK, Inc. by 11.4% during the first quarter, owning 105,903 shares valued at approximately $10.49 million.
• ONEOK reported earnings of $1.34 EPS for the last quarter, slightly exceeding analyst estimates, with revenue of $8.21 billion outpacing forecasts.
• The company recently declared a quarterly dividend of $1.03 per share, representing an annual yield of 5.6% with a payout ratio of 80.31%.

AQR Capital Management LLC boosted its holdings in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 11.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 105,903 shares of the utilities provider's stock after buying an additional 10,799 shares during the period. AQR Capital Management LLC's holdings in ONEOK were worth $10,489,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. First Pacific Financial acquired a new position in shares of ONEOK in the first quarter valued at about $34,000. Vermillion Wealth Management Inc. acquired a new position in shares of ONEOK in the fourth quarter valued at about $37,000. Financial Network Wealth Advisors LLC increased its holdings in shares of ONEOK by 2,466.7% in the first quarter. Financial Network Wealth Advisors LLC now owns 385 shares of the utilities provider's stock valued at $38,000 after purchasing an additional 370 shares during the period. MorganRosel Wealth Management LLC acquired a new position in shares of ONEOK in the first quarter valued at about $39,000. Finally, Financial Gravity Asset Management Inc. acquired a new position in shares of ONEOK in the first quarter valued at about $40,000. 69.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on OKE shares. Raymond James Financial reissued an "outperform" rating on shares of ONEOK in a report on Friday, August 1st. Scotiabank set a $92.00 price objective on ONEOK and gave the company a "sector outperform" rating in a report on Tuesday, July 15th. Mizuho cut their price objective on ONEOK from $87.00 to $82.00 and set a "neutral" rating on the stock in a report on Friday, August 29th. TD Cowen started coverage on ONEOK in a report on Monday, July 7th. They issued a "hold" rating and a $91.00 price objective on the stock. Finally, Barclays set a $83.00 price objective on ONEOK in a report 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 issued a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $100.60.

ONEOK Stock Up 1.9%

ONEOK stock opened at $73.24 on Thursday. The firm has a market cap of $46.12 billion, a price-to-earnings ratio of 14.28, a price-to-earnings-growth ratio of 1.71 and a beta of 1.04. ONEOK, Inc. has a 52 week low of $70.63 and a 52 week high of $118.07. The business's 50-day moving average price is $77.52 and its 200 day moving average price is $83.67. The company has a quick ratio of 0.46, a current ratio of 0.59 and a debt-to-equity ratio of 1.35.

ONEOK (NYSE:OKE - Get Free Report) last posted its earnings results on Monday, August 4th. The utilities provider reported $1.34 EPS for the quarter, topping the consensus estimate of $1.33 by $0.01. The firm 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 last year, the company earned $1.33 earnings per share. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. As a group, sell-side analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Friday, August 1st were given 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 yield of 5.6%. ONEOK's dividend payout ratio is currently 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.

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