Qtron Investments LLC Invests $458,000 in ONEOK, Inc. $OKE

Key Points

• Qtron Investments LLC has acquired a new stake in ONEOK, purchasing 4,617 shares valued at approximately $458,000. This reflects ongoing interest from institutional investors in ONEOK's stock.
• ONEOK reported a net margin of 11.06% and earnings per share (EPS) of $1.34 for the latest quarter, exceeding analysts' expectations for both revenue and EPS.
• The company has declared a quarterly dividend of $1.03, which amounts to a 5.6% yield, indicating a strong return for investors amidst an 80.31% payout ratio.

Qtron Investments LLC purchased a new position in ONEOK, Inc. (NYSE:OKE - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 4,617 shares of the utilities provider's stock, valued at approximately $458,000.

A number of other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings 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 holdings 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 valued at $2,079,376,000 after acquiring an additional 2,542,449 shares during the last quarter. Invesco Ltd. grew its position 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. Northern Trust Corp grew its holdings in ONEOK by 5.3% in the 1st quarter. Northern Trust Corp now owns 6,879,863 shares of the utilities provider's stock valued at $682,620,000 after buying an additional 344,002 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of ONEOK by 43.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,904,119 shares of the utilities provider's stock worth $585,807,000 after acquiring an additional 1,788,433 shares during the period. 69.13% of the stock is owned by institutional investors and hedge funds.

ONEOK Stock Up 1.0%

NYSE OKE traded up $0.7230 during trading hours on Friday, reaching $74.7430. 2,382,272 shares of the company traded hands, compared to its average volume of 3,933,615. The stock has a market capitalization of $47.07 billion, a PE ratio of 14.57, a PEG ratio of 1.75 and a beta of 0.99. The company has a current ratio of 0.59, a quick ratio of 0.46 and a debt-to-equity ratio of 1.35. ONEOK, Inc. has a 12 month low of $72.18 and a 12 month high of $118.07. The company has a 50 day moving average of $79.52 and a two-hundred day moving average of $85.95.

ONEOK (NYSE:OKE - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The utilities provider reported $1.34 EPS for the quarter, topping 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 business had revenue of $8.21 billion for the quarter, compared to analysts' expectations of $7.20 billion. During the same quarter last year, the company posted $1.33 earnings per share. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. As a group, equities analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Friday, August 1st were issued a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date was Friday, August 1st. ONEOK's payout ratio is 80.31%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Raymond James Financial restated an "outperform" rating on shares of ONEOK in a report on Friday, August 1st. JPMorgan Chase & Co. increased their price target on ONEOK from $94.00 to $97.00 and gave the company an "overweight" rating in a report on Thursday, July 3rd. Citigroup reduced their price target on ONEOK from $110.00 to $102.00 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. Barclays set a $83.00 price target on ONEOK in a research report on Thursday, August 14th. Finally, TD Cowen initiated coverage on shares of ONEOK in a research report on Monday, July 7th. They set a "hold" rating and a $91.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $103.57.

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.