Blue Trust Inc. Grows Holdings in ONEOK, Inc. $OKE

Blue Trust Inc. grew its stake in ONEOK, Inc. (NYSE:OKE) by 7.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,005 shares of the utilities provider’s stock after buying an additional 269 shares during the period. Blue Trust Inc.’s holdings in ONEOK were worth $327,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in OKE. Dark Forest Capital Management LP boosted its holdings in shares of ONEOK by 409.5% in the 1st quarter. Dark Forest Capital Management LP now owns 40,372 shares of the utilities provider’s stock worth $4,006,000 after purchasing an additional 32,448 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund boosted its holdings in shares of ONEOK by 146.9% in the 1st quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 18,033 shares of the utilities provider’s stock worth $1,789,000 after purchasing an additional 10,728 shares in the last quarter. Advisor Resource Council purchased a new stake in ONEOK in the first quarter worth approximately $511,000. Andrew Hill Investment Advisors Inc. purchased a new stake in ONEOK in the second quarter worth approximately $3,671,000. Finally, Banco Santander S.A. boosted its stake in ONEOK by 22.2% in the first quarter. Banco Santander S.A. now owns 26,824 shares of the utilities provider’s stock worth $2,661,000 after buying an additional 4,880 shares in the last quarter. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on OKE shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of ONEOK in a research note on Wednesday, October 8th. Scotiabank set a $92.00 price target on shares of ONEOK and gave the company a “sector outperform” rating in a research report on Tuesday, July 15th. Mizuho cut their price target on shares of ONEOK from $87.00 to $82.00 and set a “neutral” rating for the company in a research report on Friday, August 29th. TD Cowen began coverage on ONEOK in a report on Monday, July 7th. They set a “hold” rating and a $91.00 target price for the company. Finally, JPMorgan Chase & Co. increased their target price on ONEOK from $94.00 to $97.00 and gave the company an “overweight” rating in a report on Thursday, July 3rd. One 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. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $98.69.

ONEOK Trading Up 0.7%

OKE opened at $69.60 on Tuesday. The stock has a market cap of $43.83 billion, a PE ratio of 13.57, a PEG ratio of 1.69 and a beta of 1.01. The company has a quick ratio of 0.46, a current ratio of 0.59 and a debt-to-equity ratio of 1.35. The business has a 50 day moving average of $73.47 and a 200-day moving average of $79.61. ONEOK, Inc. has a 52 week low of $69.05 and a 52 week high of $118.07.

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

ONEOK Dividend Announcement

The firm also recently declared 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. This represents a $4.12 dividend on an annualized basis and a yield of 5.9%. The ex-dividend date of this dividend was Friday, August 1st. ONEOK’s dividend payout ratio (DPR) 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.