3,295 Shares in ONEOK, Inc. $OKE Bought by Grimes & Company Inc.

Grimes & Company Inc. acquired a new position in shares of ONEOK, Inc. (NYSE:OKE) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 3,295 shares of the utilities provider’s stock, valued at approximately $269,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in ONEOK by 7.2% during the first quarter. Vanguard Group Inc. now owns 75,196,969 shares of the utilities provider’s stock worth $7,461,043,000 after acquiring an additional 5,076,705 shares during the period. Charles Schwab Investment Management Inc. grew its holdings 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 last quarter. Invesco Ltd. grew its holdings 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 last quarter. Tortoise Capital Advisors L.L.C. grew its holdings 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 last quarter. Finally, Northern Trust Corp grew its holdings 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 last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on OKE. Weiss Ratings reissued a “hold (c+)” rating on shares of ONEOK in a report on Saturday, September 27th. The Goldman Sachs Group began coverage on ONEOK in a report on Tuesday, September 30th. They issued a “neutral” rating and a $75.00 target price on the stock. Mizuho lowered their target price on ONEOK from $87.00 to $82.00 and set a “neutral” rating on the stock in a report on Friday, August 29th. TD Cowen initiated coverage on ONEOK in a report on Monday, July 7th. They issued a “hold” rating and a $91.00 target price on the stock. Finally, Raymond James Financial restated an “outperform” rating on shares of ONEOK in a research report on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $99.00.

ONEOK Stock Down 0.4%

Shares of NYSE:OKE opened at $72.42 on Wednesday. The company has a quick ratio of 0.46, a current ratio of 0.59 and a debt-to-equity ratio of 1.35. ONEOK, Inc. has a 52-week low of $70.63 and a 52-week high of $118.07. The stock’s fifty day simple moving average is $74.28 and its 200-day simple moving average is $80.59. The company has a market capitalization of $45.61 billion, a P/E ratio of 14.12, a P/E/G ratio of 1.79 and a beta of 1.01.

ONEOK (NYSE:OKE) last released its earnings results on Monday, August 4th. The utilities provider reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.01. ONEOK had a return on equity of 14.90% and a net margin of 11.06%.The firm had revenue of $8.21 billion for the quarter, compared to the consensus estimate of $7.20 billion. During the same period in the prior year, the business posted $1.33 earnings per share. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. As a group, equities research analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Friday, August 1st were given a dividend of $1.03 per share. The ex-dividend date was Friday, August 1st. This represents a $4.12 annualized dividend and a yield of 5.7%. ONEOK’s dividend payout ratio is 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.