Los Angeles Capital Management LLC Acquires 2,064 Shares of ONEOK, Inc. $OKE

by · The Markets Daily

Los Angeles Capital Management LLC grew its stake in ONEOK, Inc. (NYSE:OKE – Free Report) by 5.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 39,927 shares of the utilities provider’s stock after purchasing an additional 2,064 shares during the period. Los Angeles Capital Management LLC’s holdings in ONEOK were worth $3,259,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. grew its position in ONEOK by 7.2% in the first quarter. Vanguard Group Inc. now owns 75,196,969 shares of the utilities provider’s stock valued at $7,461,043,000 after acquiring an additional 5,076,705 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of ONEOK by 13.8% in the 1st 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 in the last quarter. Invesco Ltd. grew its holdings in shares of ONEOK by 25.1% in the 1st quarter. Invesco Ltd. now owns 8,339,939 shares of the utilities provider’s stock worth $827,489,000 after purchasing an additional 1,674,706 shares during the last quarter. Tortoise Capital Advisors L.L.C. increased its position in shares of ONEOK by 17.1% during the 1st quarter. Tortoise Capital Advisors L.L.C. now owns 7,171,795 shares of the utilities provider’s stock worth $711,586,000 after purchasing an additional 1,047,810 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in ONEOK by 5.3% during the 1st 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. 69.13% of the stock is owned by institutional investors and hedge funds.

ONEOK Stock Down 0.4%

NYSE OKE opened at $67.88 on Tuesday. The stock has a market capitalization of $42.71 billion, a P/E ratio of 12.48, a price-to-earnings-growth ratio of 2.62 and a beta of 1.05. ONEOK, Inc. has a 52 week low of $64.02 and a 52 week high of $118.07. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.46 and a current ratio of 0.90. The stock has a fifty day moving average of $70.75 and a 200-day moving average of $77.02.

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

ONEOK Announces Dividend

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 given a dividend of $1.03 per share. The ex-dividend date is Monday, November 3rd. This represents a $4.12 annualized dividend and a dividend yield of 6.1%. ONEOK’s payout ratio is currently 75.74%.

Insider Activity at ONEOK

In other ONEOK news, Director Brian L. Derksen purchased 2,500 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The stock was acquired at an average cost of $66.00 per share, with a total value of $165,000.00. Following the completion of the purchase, the director directly owned 21,200 shares in the company, valued at approximately $1,399,200. This represents a 13.37% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.21% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have weighed in on OKE. Scotiabank decreased their price objective on shares of ONEOK from $88.00 to $87.00 and set a “sector outperform” rating on the stock in a research note on Tuesday, November 4th. Morgan Stanley dropped their price target on ONEOK from $122.00 to $110.00 and set an “overweight” rating for the company in a report on Tuesday, August 26th. Weiss Ratings reiterated a “hold (c+)” rating on shares of ONEOK in a research report on Wednesday, October 8th. Citigroup decreased their target price on ONEOK from $102.00 to $95.00 and set a “buy” rating on the stock in a report on Friday, October 31st. Finally, Stifel Nicolaus set a $94.00 target price on ONEOK in a research note on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $91.94.

View Our Latest Research Report on OKE

ONEOK Company Profile

(Free Report)

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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