UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Grows Position in ONEOK, Inc. $OKE

Key Points

• UBS Asset Management increased its stake in ONEOK, Inc. by 19.7%, now holding over 4.5 million shares worth approximately $451.77 million.
• ONEOK reported $1.34 EPS for the last quarter, exceeding estimates and reflecting a revenue of $8.21 billion, significantly above the consensus estimate.
• The company recently declared a quarterly dividend of $1.03 per share, translating to an annualized dividend yield of 5.7%.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in ONEOK, Inc. (NYSE:OKE - Free Report) by 19.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,553,232 shares of the utilities provider's stock after buying an additional 748,820 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned about 0.73% of ONEOK worth $451,772,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. First Pacific Financial acquired a new stake in shares of ONEOK in the first quarter valued at approximately $34,000. Vermillion Wealth Management Inc. acquired a new stake in shares of ONEOK in the fourth quarter valued at approximately $37,000. Financial Network Wealth Advisors LLC raised 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 last quarter. MorganRosel Wealth Management LLC acquired a new position in ONEOK during the first quarter worth $39,000. Finally, Financial Gravity Asset Management Inc. acquired a new position in ONEOK during the first quarter worth $40,000. Institutional investors own 69.13% of the company's stock.

ONEOK Stock Performance

ONEOK stock traded down $0.20 during midday trading on Friday, reaching $73.10. The stock had a trading volume of 2,452,189 shares, compared to its average volume of 3,171,176. The company has a quick ratio of 0.46, a current ratio of 0.59 and a debt-to-equity ratio of 1.35. The firm has a market capitalization of $46.04 billion, a PE ratio of 14.25, a P/E/G ratio of 1.74 and a beta of 1.04. ONEOK, Inc. has a 12 month low of $70.63 and a 12 month high of $118.07. The firm's 50-day moving average price is $77.18 and its 200 day moving average price is $83.26.

ONEOK (NYSE:OKE - Get Free Report) last issued its quarterly earnings data 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 company 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 earnings per share. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. As a group, research analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Friday, August 1st were issued a $1.03 dividend. 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 80.31%.

Analyst Ratings Changes

A number of brokerages recently weighed in on OKE. TD Cowen began coverage on shares of ONEOK in a report on Monday, July 7th. They set a "hold" rating and a $91.00 target price on the stock. JPMorgan Chase & Co. boosted their target price on shares of ONEOK from $94.00 to $97.00 and gave the company an "overweight" rating in a research report on Thursday, July 3rd. Mizuho lowered their target price on ONEOK from $87.00 to $82.00 and set a "neutral" rating for the company in a research note on Friday, August 29th. Barclays set a $83.00 target price on ONEOK in a research note on Thursday, August 14th. Finally, Scotiabank set a $92.00 price objective on ONEOK and gave the company a "sector outperform" rating in a research note on Tuesday, July 15th. 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's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $100.60.

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.