ONEOK, Inc. $OKE Shares Purchased by Boston Partners

Boston Partners grew its stake in shares of ONEOK, Inc. (NYSE:OKE) by 53.5% in the 2nd quarter, Holdings Channel.com reports. The fund owned 5,500,612 shares of the utilities provider’s stock after purchasing an additional 1,916,376 shares during the quarter. Boston Partners’ holdings in ONEOK were worth $447,783,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of OKE. Bogart Wealth LLC grew its stake in ONEOK by 3.1% in the second quarter. Bogart Wealth LLC now owns 4,031 shares of the utilities provider’s stock worth $329,000 after purchasing an additional 122 shares in the last quarter. Presima Securities ULC lifted its holdings in ONEOK by 1.4% during the 1st quarter. Presima Securities ULC now owns 9,477 shares of the utilities provider’s stock worth $940,000 after buying an additional 127 shares during the last quarter. Clearstead Trust LLC grew its position in shares of ONEOK by 5.0% in the 1st quarter. Clearstead Trust LLC now owns 2,792 shares of the utilities provider’s stock worth $277,000 after acquiring an additional 133 shares in the last quarter. Empowered Funds LLC increased its holdings in shares of ONEOK by 0.8% in the 1st quarter. Empowered Funds LLC now owns 17,957 shares of the utilities provider’s stock valued at $1,782,000 after acquiring an additional 137 shares during the last quarter. Finally, MJT & Associates Financial Advisory Group Inc. increased its holdings in shares of ONEOK by 5.8% in the 2nd quarter. MJT & Associates Financial Advisory Group Inc. now owns 2,540 shares of the utilities provider’s stock valued at $207,000 after acquiring an additional 140 shares during the last quarter. Institutional investors own 69.13% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on OKE shares. Scotiabank decreased their price objective on shares of ONEOK from $88.00 to $87.00 and set a “sector outperform” rating for the company in a report on Tuesday, November 4th. Stifel Nicolaus set a $94.00 price target on shares of ONEOK in a research report on Thursday, October 30th. Morgan Stanley lowered their price objective on shares of ONEOK from $122.00 to $110.00 and set an “overweight” rating for the company in a research report on Tuesday, August 26th. Raymond James Financial reissued an “outperform” rating and issued a $82.00 target price (down previously from $100.00) on shares of ONEOK in a report on Friday, October 24th. Finally, TD Cowen decreased their target price on ONEOK from $78.00 to $76.00 and set a “hold” rating for the company in a research note on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $91.94.

Insider Activity at ONEOK

In related news, Director Brian L. Derksen acquired 2,500 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The shares were acquired at an average cost of $66.00 per share, for a total transaction of $165,000.00. Following the completion of the purchase, the director directly owned 21,200 shares in the company, valued at $1,399,200. This trade represents a 13.37% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.21% of the company’s stock.

ONEOK Price Performance

NYSE OKE opened at $67.88 on Tuesday. ONEOK, Inc. has a 52 week low of $64.02 and a 52 week high of $118.07. The company has a current ratio of 0.90, a quick ratio of 0.46 and a debt-to-equity ratio of 1.44. The stock has a market cap of $42.71 billion, a price-to-earnings ratio of 12.48, a price-to-earnings-growth ratio of 2.62 and a beta of 1.05. The company has a 50-day moving average price of $70.75 and a two-hundred day moving average price of $77.02.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Tuesday, October 28th. The utilities provider reported $1.49 earnings per share for the quarter, beating analysts’ consensus estimates of $1.48 by $0.01. ONEOK had a return on equity of 15.12% and a net margin of 10.58%.The company had revenue of $9.17 billion for the quarter, compared to analysts’ expectations of $8.23 billion. During the same quarter in the previous year, the company posted $1.18 earnings per share. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. Analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Monday, November 3rd will be paid a $1.03 dividend. The ex-dividend date of this dividend is Monday, November 3rd. This represents a $4.12 annualized dividend and a dividend yield of 6.1%. ONEOK’s dividend payout ratio is presently 75.74%.

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.