BI Asset Management Fondsmaeglerselskab A S Purchases 36,237 Shares of ONEOK, Inc. $OKE

Key Points

• BI Asset Management Fondsmaeglerselskab A S significantly increased its stake in ONEOK, Inc. by 103.4%, now owning 71,270 shares valued at $7,071,000, highlighting investor confidence in the company.
• ONEOK recently reported earnings per share (EPS) of $1.34, exceeding analyst estimates, and generated revenue of $8.21 billion, outpacing expectations of $7.20 billion.
• The company declared a quarterly dividend of $1.03 per share, reflecting a 5.6% yield, with a payout ratio of 80.31%, signifying healthy returns for shareholders.

BI Asset Management Fondsmaeglerselskab A S increased its position in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 103.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 71,270 shares of the utilities provider's stock after purchasing an additional 36,237 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in ONEOK were worth $7,071,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of OKE. Marcum Wealth LLC lifted its stake in ONEOK by 1.1% during the 1st quarter. Marcum Wealth LLC now owns 10,250 shares of the utilities provider's stock valued at $1,017,000 after acquiring an additional 108 shares in the last quarter. West Paces Advisors Inc. lifted its stake in ONEOK by 4.7% during the 4th quarter. West Paces Advisors Inc. now owns 2,527 shares of the utilities provider's stock valued at $254,000 after acquiring an additional 114 shares in the last quarter. Morey & Quinn Wealth Partners LLC increased its position in shares of ONEOK by 0.8% during the 1st quarter. Morey & Quinn Wealth Partners LLC now owns 15,722 shares of the utilities provider's stock valued at $1,560,000 after purchasing an additional 130 shares during the last quarter. Uniplan Investment Counsel Inc. increased its position in shares of ONEOK by 0.3% during the 4th quarter. Uniplan Investment Counsel Inc. now owns 50,970 shares of the utilities provider's stock valued at $5,117,000 after purchasing an additional 132 shares during the last quarter. Finally, Visionary Wealth Advisors increased its position in shares of ONEOK by 2.1% during the 4th quarter. Visionary Wealth Advisors now owns 6,320 shares of the utilities provider's stock valued at $635,000 after purchasing an additional 132 shares during the last quarter. Institutional investors and hedge funds own 69.13% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on OKE shares. Barclays set a $83.00 target price on ONEOK in a research report on Thursday, August 14th. Royal Bank Of Canada decreased their target price on ONEOK from $94.00 to $88.00 and set a "sector perform" rating for the company in a research report on Wednesday, August 13th. Raymond James Financial reaffirmed an "outperform" rating on shares of ONEOK in a research report on Friday, August 1st. Scotiabank set a $92.00 price objective on ONEOK and gave the stock a "sector outperform" rating in a report on Tuesday, July 15th. Finally, Citigroup decreased their price objective on ONEOK from $110.00 to $102.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $103.57.

ONEOK Price Performance

OKE stock traded up $0.7230 during mid-day trading on Friday, reaching $74.7430. 2,382,272 shares of the company traded hands, compared to its average volume of 3,622,767. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.59 and a quick ratio of 0.46. The company has a market capitalization of $47.07 billion, a P/E ratio of 14.57, a P/E/G ratio of 1.75 and a beta of 0.99. ONEOK, Inc. has a 52-week low of $72.18 and a 52-week high of $118.07. The company has a fifty day moving average price of $79.34 and a 200-day moving average price of $85.80.

ONEOK (NYSE:OKE - Get Free Report) last posted its earnings results on Monday, August 4th. The utilities provider reported $1.34 earnings per share for the quarter, beating analysts' consensus estimates of $1.33 by $0.01. The business 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 in the previous year, the firm earned $1.33 EPS. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. As a group, 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. Stockholders of record on Friday, August 1st were given a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date was Friday, August 1st. ONEOK's dividend payout ratio (DPR) 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.