USS Investment Management Ltd Acquires 18,239 Shares of ONEOK, Inc. $OKE

Key Points

• USS Investment Management Ltd increased its stake in ONEOK by 16.3% in the first quarter, buying 18,239 additional shares and bringing its total holdings to 130,274 shares worth about $11.8 million.
• ONEOK has seen mixed analyst sentiment: several firms adjusted price targets, but the stock’s overall consensus rating remains Hold with an average target price of $91.88.
• The company reported Q1 earnings of $1.23 per share, below expectations, while revenue came in at $9.62 billion. ONEOK also paid a quarterly dividend of $1.07 per share, implying a 5.0% annualized yield.

USS Investment Management Ltd lifted its holdings in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 16.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 130,274 shares of the utilities provider's stock after buying an additional 18,239 shares during the period. USS Investment Management Ltd's holdings in ONEOK were worth $11,775,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Legal & General Group Plc grew its position in shares of ONEOK by 1.6% during the 3rd quarter. Legal & General Group Plc now owns 5,218,376 shares of the utilities provider's stock worth $380,785,000 after purchasing an additional 80,683 shares in the last quarter. Russell Investments Group Ltd. lifted its position in ONEOK by 1.4% during the third quarter. Russell Investments Group Ltd. now owns 1,232,011 shares of the utilities provider's stock worth $89,910,000 after purchasing an additional 16,871 shares during the period. WBI Investments LLC grew its stake in ONEOK by 221.5% during the third quarter. WBI Investments LLC now owns 35,768 shares of the utilities provider's stock worth $2,610,000 after buying an additional 24,643 shares in the last quarter. Coldstream Capital Management Inc. grew its stake in ONEOK by 20.1% during the third quarter. Coldstream Capital Management Inc. now owns 46,899 shares of the utilities provider's stock worth $3,422,000 after buying an additional 7,843 shares in the last quarter. Finally, Aberdeen Group plc increased its holdings in ONEOK by 46.0% in the 4th quarter. Aberdeen Group plc now owns 957,663 shares of the utilities provider's stock valued at $70,388,000 after buying an additional 301,654 shares during the period. Institutional investors and hedge funds own 69.13% of the company's stock.

Analyst Upgrades and Downgrades

OKE has been the subject of several analyst reports. Barclays boosted their target price on shares of ONEOK from $82.00 to $90.00 and gave the company an "equal weight" rating in a research report on Thursday, April 30th. Wall Street Zen raised shares of ONEOK from a "sell" rating to a "hold" rating in a research note on Tuesday, May 26th. Scotiabank downgraded shares of ONEOK from a "sector outperform" rating to a "sector perform" rating and lowered their price objective for the company from $92.00 to $89.00 in a research report on Thursday, April 30th. Raymond James Financial restated an "outperform" rating and set a $92.00 target price on shares of ONEOK in a research note on Thursday, April 30th. Finally, Citigroup raised their target price on ONEOK from $95.00 to $97.00 and gave the company a "buy" rating in a report on Thursday, May 7th. Eight investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $91.88.

ONEOK Trading Down 1.5%

OKE opened at $85.59 on Thursday. The company has a market cap of $53.94 billion, a P/E ratio of 15.26, a PEG ratio of 6.50 and a beta of 0.73. The company has a current ratio of 0.71, a quick ratio of 0.56 and a debt-to-equity ratio of 1.37. The company's 50 day moving average is $88.49 and its 200-day moving average is $83.88. ONEOK, Inc. has a 1-year low of $64.02 and a 1-year high of $96.07.

ONEOK (NYSE:OKE - Get Free Report) last released its quarterly earnings data on Tuesday, April 28th. The utilities provider reported $1.23 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.30 by ($0.07). The company had revenue of $9.62 billion for the quarter, compared to analyst estimates of $8.23 billion. ONEOK had a return on equity of 16.06% and a net margin of 10.03%.During the same quarter in the prior year, the company earned $1.04 earnings per share. ONEOK has set its FY 2026 guidance at 5.530-5.530 EPS. Equities research analysts predict that ONEOK, Inc. will post 5.72 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Monday, May 4th were paid a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date was Monday, May 4th. ONEOK's dividend payout ratio is presently 76.29%.

ONEOK Profile

ONEOK, Inc NYSE: OKE is a publicly traded midstream energy company headquartered in Tulsa, Oklahoma. The company owns and operates a portfolio of natural gas and natural gas liquids (NGL) pipelines, processing facilities, fractionators and storage and terminal assets. Its operations are focused on gathering, processing, transporting, fractionating and marketing NGLs and interstate natural gas, providing critical infrastructure that connects hydrocarbon production to refineries, petrochemical plants and other end markets.

ONEOK's asset base includes pipeline systems and processing plants that move and condition natural gas, along with infrastructure for the transportation, storage and fractionation of NGLs such as ethane, propane and butane.

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