Caisse DE Depot ET Placement DU Quebec Has $1.83 Million Position in ONEOK, Inc. $OKE

Key Points

• Caisse DE Depot ET Placement DU Quebec has significantly reduced its position in ONEOK, Inc. by 90%, owning only 18,426 shares after selling 164,953 shares during the first quarter.
• Several institutional investors, including Corebridge Financial Inc. and MetLife Investment Management LLC, have increased their stakes in ONEOK, with an overall institutional ownership of 69.13%.
• The company reported Q2 earnings surpassing estimates, with a revenue of $8.21 billion, and recently declared a quarterly dividend that represents a 5.4% annual yield.

Caisse DE Depot ET Placement DU Quebec cut its stake in ONEOK, Inc. (NYSE:OKE - Free Report) by 90.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,426 shares of the utilities provider's stock after selling 164,953 shares during the period. Caisse DE Depot ET Placement DU Quebec's holdings in ONEOK were worth $1,828,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. raised 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 worth $7,461,043,000 after acquiring an additional 5,076,705 shares during the last quarter. Charles Schwab Investment Management Inc. raised 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 worth $2,079,376,000 after acquiring an additional 2,542,449 shares during the last quarter. Invesco Ltd. raised 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 worth $827,489,000 after acquiring an additional 1,674,706 shares during the last quarter. Tortoise Capital Advisors L.L.C. raised 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 worth $711,586,000 after acquiring an additional 1,047,810 shares during the last quarter. Finally, Northern Trust Corp raised its stake in shares of ONEOK by 5.3% in 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. 69.13% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on OKE shares. TD Cowen started coverage on shares of ONEOK in a research note on Monday, July 7th. They issued a "hold" rating and a $91.00 target price for the company. JPMorgan Chase & Co. boosted their target price on shares of ONEOK from $94.00 to $97.00 and gave the stock an "overweight" rating in a research note on Thursday, July 3rd. Scotiabank set a $92.00 price target on shares of ONEOK and gave the stock a "sector outperform" rating in a research report on Tuesday, July 15th. Raymond James Financial reiterated an "outperform" rating on shares of ONEOK in a research report on Friday, August 1st. Finally, Mizuho lowered their price target on shares of ONEOK from $87.00 to $82.00 and set a "neutral" rating for the company in a research report on Friday, August 29th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $100.60.

ONEOK Trading Up 0.7%

Shares of NYSE:OKE traded up $0.50 during trading on Thursday, hitting $74.37. 2,505,777 shares of the company's stock were exchanged, compared to its average volume of 3,161,157. ONEOK, Inc. has a 1-year low of $72.18 and a 1-year high of $118.07. The firm has a 50-day moving average price of $78.25 and a two-hundred day moving average price of $84.39. 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 firm has a market cap of $46.83 billion, a P/E ratio of 14.50, a PEG ratio of 1.76 and a beta of 1.04.

ONEOK (NYSE:OKE - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The utilities provider reported $1.34 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.33 by $0.01. The firm had revenue of $8.21 billion during the quarter, compared to analysts' expectations 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 company earned $1.33 earnings per share. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. Equities analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a yield of 5.5%. ONEOK's payout ratio is currently 80.31%.

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.