Amundi Purchases 1,136,928 Shares of ONEOK, Inc. $OKE

Key Points

• Amundi increased its stake in ONEOK, Inc. by 27.7%, owning approximately 5.24 million shares valued at $485.98 million as of the latest SEC filing.
• ONEOK's quarterly earnings showed a EPS of $1.34, surpassing estimates, and the company reported revenue of $8.21 billion, exceeding analysts' expectations.
• Recent dividend announcements included a quarterly payment of $1.03 per share, translating to a 5.6% dividend yield for the company.

Amundi boosted its position in ONEOK, Inc. (NYSE:OKE - Free Report) by 27.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,242,524 shares of the utilities provider's stock after purchasing an additional 1,136,928 shares during the quarter. Amundi owned about 0.84% of ONEOK worth $485,982,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Adage Capital Partners GP L.L.C. raised its position in shares of ONEOK by 22.2% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 181,200 shares of the utilities provider's stock valued at $17,979,000 after buying an additional 32,900 shares in the last quarter. Federation des caisses Desjardins du Quebec raised its position in shares of ONEOK by 150.3% during the 1st quarter. Federation des caisses Desjardins du Quebec now owns 50,773 shares of the utilities provider's stock valued at $5,039,000 after buying an additional 30,489 shares in the last quarter. Dark Forest Capital Management LP raised its position in shares of ONEOK by 409.5% during the 1st quarter. Dark Forest Capital Management LP now owns 40,372 shares of the utilities provider's stock valued at $4,006,000 after buying an additional 32,448 shares in the last quarter. EP Wealth Advisors LLC raised its position in shares of ONEOK by 25.6% during the 1st quarter. EP Wealth Advisors LLC now owns 18,982 shares of the utilities provider's stock valued at $1,883,000 after buying an additional 3,866 shares in the last quarter. Finally, PDT Partners LLC purchased a new stake in shares of ONEOK during the 1st quarter valued at $675,000. Hedge funds and other institutional investors own 69.13% of the company's stock.

ONEOK Stock Performance

Shares of OKE traded down $1.22 during mid-day trading on Monday, hitting $71.41. 3,912,458 shares of the company traded hands, compared to its average volume of 3,920,349. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.46 and a current ratio of 0.59. The stock has a 50-day moving average price of $78.08 and a two-hundred day moving average price of $84.01. ONEOK, Inc. has a 1 year low of $70.63 and a 1 year high of $118.07. The stock has a market cap of $44.97 billion, a price-to-earnings ratio of 13.92, a P/E/G ratio of 1.73 and a beta of 1.04.

ONEOK (NYSE:OKE - Get Free Report) last released its quarterly earnings data 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. ONEOK had a net margin of 11.06% and a return on equity of 14.90%. The firm had revenue of $8.21 billion during the quarter, compared to analysts' expectations of $7.20 billion. During the same period 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 anticipate that ONEOK, Inc. will post 5.07 earnings per share 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 given a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 5.8%. The ex-dividend date was Friday, August 1st. ONEOK's payout ratio is 80.31%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Scotiabank set a $92.00 target price on shares of ONEOK and gave the stock a "sector outperform" rating in a research report on Tuesday, July 15th. Royal Bank Of Canada decreased their target price on shares of ONEOK from $94.00 to $88.00 and set a "sector perform" rating on the stock in a research report on Wednesday, August 13th. Raymond James Financial reiterated an "outperform" rating on shares of ONEOK in a research report on Friday, August 1st. Morgan Stanley decreased their target price on shares of ONEOK from $122.00 to $110.00 and set an "overweight" rating on the stock in a research report on Tuesday, August 26th. Finally, JPMorgan Chase & Co. lifted their target price on shares of ONEOK from $94.00 to $97.00 and gave the stock an "overweight" rating in a research report on Thursday, July 3rd. One 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $100.60.

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.