UniSuper Management Pty Ltd Buys 11,307 Shares of ONEOK, Inc. $OKE

UniSuper Management Pty Ltd raised its stake in ONEOK, Inc. (NYSE:OKE) by 22.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 60,597 shares of the utilities provider’s stock after buying an additional 11,307 shares during the quarter. UniSuper Management Pty Ltd’s holdings in ONEOK were worth $4,422,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of ONEOK by 1.7% in the 2nd quarter. Vanguard Group Inc. now owns 76,510,971 shares of the utilities provider’s stock valued at $6,245,591,000 after acquiring an additional 1,314,002 shares during the period. Charles Schwab Investment Management Inc. increased its stake in ONEOK by 2.9% in the second quarter. Charles Schwab Investment Management Inc. now owns 21,570,904 shares of the utilities provider’s stock valued at $1,760,833,000 after purchasing an additional 613,674 shares in the last quarter. Geode Capital Management LLC raised its holdings in ONEOK by 2.3% in the second quarter. Geode Capital Management LLC now owns 15,800,797 shares of the utilities provider’s stock worth $1,284,303,000 after purchasing an additional 355,751 shares during the period. Invesco Ltd. raised its holdings in ONEOK by 0.6% in the second quarter. Invesco Ltd. now owns 8,386,831 shares of the utilities provider’s stock worth $684,617,000 after purchasing an additional 46,892 shares during the period. Finally, Norges Bank bought a new position in shares of ONEOK during the second quarter worth $562,832,000. 69.13% of the stock is currently owned by institutional investors and hedge funds.

ONEOK Stock Down 0.7%

Shares of ONEOK stock opened at $78.02 on Monday. The firm has a market cap of $49.09 billion, a PE ratio of 14.34, a P/E/G ratio of 4.42 and a beta of 0.94. The business’s 50 day simple moving average is $73.12 and its 200 day simple moving average is $73.44. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.75 and a current ratio of 0.90. ONEOK, Inc. has a 52-week low of $64.02 and a 52-week high of $105.86.

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, topping 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 firm had revenue of $8.63 billion during the quarter, compared to the consensus estimate of $8.23 billion. During the same quarter in the prior year, the firm posted $1.18 EPS. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. On average, analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Monday, February 2nd will be given a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a yield of 5.5%. This is an increase from ONEOK’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend is Monday, February 2nd. ONEOK’s payout ratio is 75.74%.

Analysts Set New Price Targets

OKE has been the subject of a number of recent analyst reports. The Goldman Sachs Group restated a “neutral” rating and issued a $72.00 price objective on shares of ONEOK in a research report on Monday, November 3rd. Raymond James Financial reaffirmed an “outperform” rating and set a $82.00 price target (down previously from $100.00) on shares of ONEOK in a research report on Friday, October 24th. Jefferies Financial Group assumed coverage on ONEOK in a report on Tuesday, January 20th. They set a “hold” rating and a $80.00 price objective on the stock. TD Cowen lowered 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. Finally, UBS Group cut their price target on shares of ONEOK from $114.00 to $103.00 and set a “buy” rating on the stock in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $88.56.

Insider Transactions at ONEOK

In other ONEOK news, Director Brian L. Derksen purchased 2,500 shares of the stock in a transaction on Monday, November 3rd. The shares were purchased at an average cost of $66.00 per share, for a total transaction of $165,000.00. Following the purchase, the director owned 21,200 shares of the company’s stock, valued at approximately $1,399,200. This represents a 13.37% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.20% of the company’s stock.

About ONEOK

ONEOK, Inc (NYSE: OKE) is a publicly traded midstream energy company headquartered in Tulsa, Oklahoma. The company owns and operates a portfolio of natural gas and natural gas liquids (NGL) pipelines, processing facilities, fractionators and storage and terminal assets. Its operations are focused on gathering, processing, transporting, fractionating and marketing NGLs and interstate natural gas, providing critical infrastructure that connects hydrocarbon production to refineries, petrochemical plants and other end markets.

ONEOK’s asset base includes pipeline systems and processing plants that move and condition natural gas, along with infrastructure for the transportation, storage and fractionation of NGLs such as ethane, propane and butane.