Vontobel Holding Ltd. Boosts Holdings in ONEOK, Inc. $OKE

Key Points

• Vontobel Holding Ltd. increased its stake in ONEOK, Inc. by 19.9% during Q2, now owning 31,983 shares valued at approximately $2.61 million.
• Several institutional investors, including Brighton Jones LLC and Fort Washington Investment Advisors, significantly raised their holdings in ONEOK, indicating increasing confidence in the utilities provider.
• ONEOK recently reported earnings per share of $1.34 for the last quarter, surpassing expectations and setting guidance for FY 2025 at 5.37 EPS.

Vontobel Holding Ltd. grew its holdings in ONEOK, Inc. (NYSE:OKE - Free Report) by 19.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,983 shares of the utilities provider's stock after purchasing an additional 5,302 shares during the quarter. Vontobel Holding Ltd.'s holdings in ONEOK were worth $2,611,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of OKE. Brighton Jones LLC lifted its stake in ONEOK by 137.1% in the 4th quarter. Brighton Jones LLC now owns 15,278 shares of the utilities provider's stock valued at $1,534,000 after buying an additional 8,834 shares in the last quarter. Park Avenue Securities LLC raised its holdings in shares of ONEOK by 2.8% in the first quarter. Park Avenue Securities LLC now owns 7,816 shares of the utilities provider's stock worth $776,000 after acquiring an additional 214 shares during the last quarter. Simon Quick Advisors LLC raised its holdings in shares of ONEOK by 11.6% in the first quarter. Simon Quick Advisors LLC now owns 2,793 shares of the utilities provider's stock worth $277,000 after acquiring an additional 291 shares during the last quarter. Fifth Third Bancorp increased its position in ONEOK by 8.6% during the 1st quarter. Fifth Third Bancorp now owns 29,252 shares of the utilities provider's stock worth $2,902,000 after purchasing an additional 2,312 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH increased its position in ONEOK by 60.8% during the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 58,053 shares of the utilities provider's stock worth $5,760,000 after purchasing an additional 21,943 shares in the last quarter. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on OKE shares. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of ONEOK in a research note on Wednesday. The Goldman Sachs Group initiated coverage on shares of ONEOK in a research note on Tuesday, September 30th. They set a "neutral" rating and a $75.00 price objective on the stock. TD Cowen initiated coverage on shares of ONEOK in a research note on Monday, July 7th. They set a "hold" rating and a $91.00 price objective on the stock. JPMorgan Chase & Co. boosted 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. Finally, Raymond James Financial reiterated an "outperform" rating on shares of ONEOK in a report on Friday, August 1st. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $98.69.

ONEOK Stock Performance

Shares of OKE stock opened at $69.22 on Friday. ONEOK, Inc. has a one year low of $69.08 and a one year 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. The company has a 50 day moving average price of $73.67 and a 200 day moving average price of $79.94. The firm has a market capitalization of $43.59 billion, a price-to-earnings ratio of 13.49, a price-to-earnings-growth ratio of 1.70 and a beta of 1.01.

ONEOK (NYSE:OKE - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The utilities provider reported $1.34 earnings per share (EPS) for the quarter, beating 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 company had revenue of $8.21 billion during the quarter, compared to analysts' expectations of $7.20 billion. During the same period in the previous year, the company earned $1.33 EPS. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. Sell-side analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Dividend Announcement

The company also recently disclosed 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 6.0%. The ex-dividend date was Friday, August 1st. ONEOK's dividend payout ratio (DPR) is 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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