ONEOK, Inc. $OKE Shares Purchased by Shell Asset Management Co.

Key Points

• Shell Asset Management Co. significantly increased its stake in ONEOK, Inc. by 115.7% during the second quarter, owning a total of 32,363 shares worth approximately $2.64 million.
• Oneok, Inc. reported earnings of $1.34 per share, exceeding analyst expectations, with revenues of $8.21 billion for the quarter.
• The company recently declared a quarterly dividend of $1.03 per share, reflecting a 5.7% dividend yield and a payout ratio of 80.31%.

Shell Asset Management Co. lifted its stake in ONEOK, Inc. (NYSE:OKE - Free Report) by 115.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 32,363 shares of the utilities provider's stock after purchasing an additional 17,359 shares during the period. Shell Asset Management Co.'s holdings in ONEOK were worth $2,642,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of ONEOK by 7.2% in the first 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 period. Charles Schwab Investment Management Inc. lifted its stake in shares of ONEOK by 13.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 20,957,230 shares of the utilities provider's stock valued at $2,079,376,000 after purchasing an additional 2,542,449 shares during the period. Invesco Ltd. lifted its stake in shares of ONEOK by 25.1% in the first quarter. Invesco Ltd. now owns 8,339,939 shares of the utilities provider's stock valued at $827,489,000 after purchasing an additional 1,674,706 shares during the period. Tortoise Capital Advisors L.L.C. lifted its stake in shares of ONEOK by 17.1% in the first 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 purchasing an additional 1,047,810 shares during the period. Finally, Northern Trust Corp raised its position in ONEOK by 5.3% during the first quarter. Northern Trust Corp now owns 6,879,863 shares of the utilities provider's stock worth $682,620,000 after acquiring an additional 344,002 shares during the last quarter. Institutional investors and hedge funds own 69.13% of the company's stock.

ONEOK Stock Down 0.4%

Shares of NYSE OKE opened at $72.42 on Wednesday. ONEOK, Inc. has a 52-week low of $70.63 and a 52-week high of $118.07. The firm has a fifty day moving average of $74.28 and a 200-day moving average of $80.59. The stock has a market capitalization of $45.61 billion, a PE ratio of 14.12, a P/E/G ratio of 1.79 and a beta of 1.01. 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 earnings per share 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 analyst estimates 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 previous year, the business posted $1.33 EPS. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. On average, analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Investors 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 annualized dividend and a dividend yield of 5.7%. ONEOK's payout ratio is presently 80.31%.

Analyst Ratings Changes

OKE has been the subject of a number of research reports. Weiss Ratings restated a "hold (c+)" rating on shares of ONEOK in a research report on Saturday, September 27th. Raymond James Financial restated an "outperform" rating on shares of ONEOK in a research report on Friday, August 1st. Barclays set a $83.00 target price on shares of ONEOK in a research report on Thursday, August 14th. Mizuho reduced their price objective on shares of ONEOK from $87.00 to $82.00 and set a "neutral" rating on the stock in a research note on Friday, August 29th. Finally, Morgan Stanley lowered their target price on shares of ONEOK from $122.00 to $110.00 and set an "overweight" rating for the company in a research note on Tuesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat, ONEOK presently has a consensus rating of "Moderate Buy" and a consensus target price of $99.00.

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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