Campbell & CO Investment Adviser LLC Raises Position in ONEOK, Inc. $OKE
by Tristan Rich · The Markets DailyCampbell & CO Investment Adviser LLC lifted its stake in shares of ONEOK, Inc. (NYSE:OKE – Free Report) by 31.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 26,019 shares of the utilities provider’s stock after buying an additional 6,244 shares during the period. Campbell & CO Investment Adviser LLC’s holdings in ONEOK were worth $2,124,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of OKE. Vanguard Group Inc. boosted its holdings in ONEOK by 7.2% during the 1st 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 last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of ONEOK by 13.8% during 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 in the last quarter. Invesco Ltd. lifted its position in shares of ONEOK by 25.1% during the 1st quarter. Invesco Ltd. now owns 8,339,939 shares of the utilities provider’s stock worth $827,489,000 after buying an additional 1,674,706 shares in the last quarter. Tortoise Capital Advisors L.L.C. boosted its stake in shares of ONEOK by 17.1% in 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 buying an additional 1,047,810 shares during the last quarter. Finally, Northern Trust Corp grew its stake in ONEOK by 5.3% in 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 period. Institutional investors own 69.13% of the company’s stock.
ONEOK Stock Down 0.4%
Shares of NYSE OKE opened at $67.88 on Tuesday. The company has a quick ratio of 0.46, a current ratio of 0.90 and a debt-to-equity ratio of 1.44. The company has a market cap of $42.71 billion, a P/E ratio of 12.48, a P/E/G 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 business has a 50-day simple moving average of $70.75 and a two-hundred day simple moving average of $77.02.
ONEOK (NYSE:OKE – Get Free Report) last announced its quarterly earnings results on Tuesday, October 28th. The utilities provider reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.48 by $0.01. ONEOK had a return on equity of 15.12% and a net margin of 10.58%.The firm had revenue of $9.17 billion for the quarter, compared to analysts’ expectations of $8.23 billion. During the same period in the prior year, the business posted $1.18 earnings per share. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. Research analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.
ONEOK Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Monday, November 3rd will be issued a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 6.1%. The ex-dividend date of this dividend is Monday, November 3rd. ONEOK’s dividend payout ratio is 75.74%.
Analyst Ratings Changes
A number of analysts recently issued reports on the stock. Raymond James Financial restated an “outperform” rating and set a $82.00 price objective (down previously from $100.00) on shares of ONEOK in a report on Friday, October 24th. Morgan Stanley lowered their price target on shares of ONEOK from $122.00 to $110.00 and set an “overweight” rating on the stock in a report on Tuesday, August 26th. Royal Bank Of Canada dropped their price objective on ONEOK from $94.00 to $88.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 13th. Stifel Nicolaus set a $94.00 target price on ONEOK in a research report on Thursday, October 30th. Finally, Mizuho lowered their target price on ONEOK from $87.00 to $82.00 and set a “neutral” rating on the stock in a research note on Friday, August 29th. 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’s stock. Based on data from MarketBeat.com, ONEOK has an average rating of “Moderate Buy” and a consensus price target of $91.94.
Get Our Latest Analysis on ONEOK
Insider Transactions at ONEOK
In other news, Director Brian L. Derksen purchased 2,500 shares of the business’s stock in a transaction on Monday, November 3rd. The stock was purchased at an average cost of $66.00 per share, with a total value of $165,000.00. Following the acquisition, the director directly owned 21,200 shares in the company, valued at approximately $1,399,200. This trade represents a 13.37% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.21% of the stock is owned by corporate insiders.
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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