Quantitative Investment Management LLC Increases Stock Position in ONEOK, Inc. $OKE

Key Points

• Quantitative Investment Management LLC increased its stake in ONEOK, Inc. by 180.1%, acquiring an additional 11,747 shares valued at approximately $1.8 million.
• ONEOK, Inc. reported earnings of $1.34 per share, surpassing analysts' predictions, with a revenue of $8.21 billion for the past quarter.
• The company announced a quarterly dividend of $1.03 per share, yielding approximately 5.5%, with a dividend payout ratio of 80.31%.

Quantitative Investment Management LLC lifted its stake in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 180.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,271 shares of the utilities provider's stock after buying an additional 11,747 shares during the quarter. Quantitative Investment Management LLC's holdings in ONEOK were worth $1,812,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. raised its position in 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 purchasing an additional 5,076,705 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in 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 during the period. Invesco Ltd. increased its stake in 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. Tortoise Capital Advisors L.L.C. increased its stake in 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 valued at $711,586,000 after purchasing an additional 1,047,810 shares during the period. Finally, Northern Trust Corp increased its stake in ONEOK by 5.3% in the first quarter. Northern Trust Corp now owns 6,879,863 shares of the utilities provider's stock valued at $682,620,000 after purchasing an additional 344,002 shares during the period. Hedge funds and other institutional investors own 69.13% of the company's stock.

Wall Street Analyst Weigh In

OKE has been the topic of a number of recent research reports. Citigroup dropped their price objective on shares of ONEOK from $110.00 to $102.00 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. Wells Fargo & Company dropped their price objective on shares of ONEOK from $102.00 to $93.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 1st. Royal Bank Of Canada dropped their price objective on shares of ONEOK from $94.00 to $88.00 and set a "sector perform" rating on the stock in a research note on Wednesday, August 13th. Morgan Stanley dropped their price objective on shares of ONEOK from $122.00 to $110.00 and set an "overweight" rating on the stock in a research note on Tuesday. Finally, Stifel Nicolaus dropped their price objective on shares of ONEOK from $110.00 to $107.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, ONEOK has an average rating of "Moderate Buy" and a consensus target price of $101.93.

ONEOK Price Performance

OKE stock traded up $0.83 during trading on Thursday, reaching $75.91. 2,461,000 shares of the company were exchanged, compared to its average volume of 3,927,762. The company has a market cap of $47.80 billion, a P/E ratio of 14.80, a PEG 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. The stock's 50 day moving average price is $78.93 and its 200 day moving average price is $85.35. 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 issued its quarterly earnings data on Monday, August 4th. The utilities provider reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 14.90% and a net margin of 11.06%.During the same period in the previous year, the firm posted $1.33 earnings per share. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. As a group, analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal 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 paid a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 5.4%. The ex-dividend date of this dividend was Friday, August 1st. ONEOK's payout ratio is 80.31%.

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.