Quantbot Technologies LP Buys Shares of 15,414 ONEOK, Inc. $OKE

Key Points

• Quantbot Technologies LP invested approximately $1.53 million in ONEOK, acquiring 15,414 shares in the first quarter, highlighting interest from institutional investors in the utilities sector.
• ONEOK reported earnings of $1.34 per share for the last quarter, surpassing the expected $1.33, alongside revenues of $8.21 billion, exceeding projections.
• The company recently announced a quarterly dividend of $1.03, reflecting an annualized yield of 5.5% with a payout ratio of 80.31%.

Quantbot Technologies LP bought a new stake in ONEOK, Inc. (NYSE:OKE - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 15,414 shares of the utilities provider's stock, valued at approximately $1,529,000.

A number of other large investors have also modified their holdings of OKE. 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 valued at $7,461,043,000 after purchasing an additional 5,076,705 shares in the last quarter. Nuveen LLC acquired a new position in shares of ONEOK in the first quarter valued at $440,535,000. Boston Partners acquired a new position in shares of ONEOK in the first quarter valued at $353,596,000. 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 valued at $2,079,376,000 after purchasing an additional 2,542,449 shares in the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of ONEOK by 51.9% in the first quarter. Wellington Management Group LLP now owns 6,388,987 shares of the utilities provider's stock valued at $633,915,000 after purchasing an additional 2,182,081 shares in the last quarter. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently commented on OKE shares. TD Cowen started coverage on ONEOK in a research note on Monday, July 7th. They issued a "hold" rating and a $91.00 target price for the company. Royal Bank Of Canada cut their target price on ONEOK from $94.00 to $88.00 and set a "sector perform" rating for the company in a research note on Wednesday, August 13th. Morgan Stanley lowered their price target on ONEOK from $122.00 to $110.00 and set an "overweight" rating on the stock in a research report on Tuesday. Barclays set a $83.00 price target on ONEOK in a research report on Thursday, August 14th. Finally, Scotiabank set a $92.00 price target on ONEOK and gave the company a "sector outperform" rating in a research report 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 issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $101.93.

ONEOK Price Performance

Shares of OKE stock traded up $0.43 during trading hours on Thursday, hitting $75.51. 535,828 shares of the company's stock were exchanged, compared to its average volume of 3,915,489. The stock's 50-day moving average is $78.93 and its 200-day moving average is $85.35. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.59 and a quick ratio of 0.46. The stock has a market cap of $47.55 billion, a price-to-earnings ratio of 14.72, a price-to-earnings-growth ratio of 1.76 and a beta of 0.99. ONEOK, Inc. has a 52 week low of $72.18 and a 52 week high of $118.07.

ONEOK (NYSE:OKE - Get Free Report) last announced its 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. The company had revenue of $8.21 billion for the quarter, compared to analysts' expectations 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 prior year, the business earned $1.33 earnings per share. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. As a group, research analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Investors 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 annualized dividend and a yield of 5.5%. ONEOK's dividend payout ratio (DPR) 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.