ONEOK, Inc. $OKE Stock Position Raised by Morningstar Investment Management LLC

Key Points

• Morningstar Investment Management LLC increased its position in ONEOK, Inc. by 18.2% during the 2nd quarter, holding 27,375 shares valued at approximately $2.24 million.
• Brokerages have adjusted their price targets for ONEOK, with Barclays lowering it from $83.00 to $78.00 and Morgan Stanley decreasing it from $122.00 to $110.00, while the consensus rating remains a Moderate Buy.
• ONEOK recently announced a quarterly dividend of $1.03 per share, which corresponds to an annualized dividend yield of 5.9%, with a payout ratio of 80.31%.

Morningstar Investment Management LLC lifted its position in ONEOK, Inc. (NYSE:OKE - Free Report) by 18.2% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 27,375 shares of the utilities provider's stock after acquiring an additional 4,206 shares during the quarter. Morningstar Investment Management LLC's holdings in ONEOK were worth $2,235,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in OKE. Vanguard Group Inc. lifted its position in shares of ONEOK by 7.2% in the 1st quarter. Vanguard Group Inc. now owns 75,196,969 shares of the utilities provider's stock valued at $7,461,043,000 after acquiring an additional 5,076,705 shares in the last quarter. Nuveen LLC purchased a new stake in shares of ONEOK in the 1st quarter valued at approximately $440,535,000. Boston Partners acquired a new position in ONEOK in the 1st quarter valued at approximately $353,596,000. Charles Schwab Investment Management Inc. lifted its position in ONEOK by 13.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 20,957,230 shares of the utilities provider's stock worth $2,079,376,000 after buying an additional 2,542,449 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in ONEOK by 51.9% in the 1st quarter. Wellington Management Group LLP now owns 6,388,987 shares of the utilities provider's stock worth $633,915,000 after buying an additional 2,182,081 shares in the last quarter. Hedge funds and other institutional investors own 69.13% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently commented on OKE. Barclays dropped their price target on shares of ONEOK from $83.00 to $78.00 and set an "equal weight" rating on the stock in a research note on Thursday. Morgan Stanley reduced their price target on shares of ONEOK from $122.00 to $110.00 and set an "overweight" rating for the company in a report on Tuesday, August 26th. Scotiabank set a $92.00 price target on shares of ONEOK and gave the company a "sector outperform" rating in a report on Tuesday, July 15th. Royal Bank Of Canada reduced their price target on shares of ONEOK from $94.00 to $88.00 and set a "sector perform" rating for the company in a report on Wednesday, August 13th. Finally, Weiss Ratings reissued a "hold (c+)" rating on shares of ONEOK in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, ONEOK presently has a consensus rating of "Moderate Buy" and a consensus price target of $98.69.

ONEOK Price Performance

NYSE:OKE opened at $69.60 on Tuesday. The company has a 50-day moving average of $73.47 and a 200-day moving average of $79.61. The company has a market capitalization of $43.83 billion, a price-to-earnings ratio of 13.57, a PEG ratio of 1.69 and a beta of 1.01. ONEOK, Inc. has a 52 week low of $69.05 and a 52 week high of $118.07. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.46 and a current ratio of 0.59.

ONEOK (NYSE:OKE - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The utilities provider reported $1.34 EPS for the quarter, topping analysts' consensus estimates of $1.33 by $0.01. The company had revenue of $8.21 billion during the quarter, compared to the consensus estimate of $7.20 billion. ONEOK had a net margin of 11.06% and a return on equity of 14.90%. During the same period last year, the firm earned $1.33 EPS. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. As a group, equities research analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Friday, August 1st were issued a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 5.9%. The ex-dividend date of this dividend was Friday, August 1st. ONEOK's dividend payout ratio (DPR) is presently 80.31%.

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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