ONEOK, Inc. $OKE Shares Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp grew its position in shares of ONEOK, Inc. (NYSE:OKE) by 2.4% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,840,798 shares of the utilities provider’s stock after purchasing an additional 113,548 shares during the period. Bank of New York Mellon Corp owned approximately 0.77% of ONEOK worth $395,154,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of OKE. Vanguard Group Inc. lifted its stake 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 in 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 worth $2,079,376,000 after purchasing an additional 2,542,449 shares in the last quarter. Invesco Ltd. boosted its stake in shares of 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 period. Tortoise Capital Advisors L.L.C. grew its holdings in shares of 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 in the last quarter. Finally, Northern Trust Corp increased its stake in ONEOK by 5.3% during the 1st quarter. Northern Trust Corp now owns 6,879,863 shares of the utilities provider’s stock worth $682,620,000 after buying an additional 344,002 shares during the period. 69.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

OKE has been the subject of several recent research reports. Wells Fargo & Company decreased their price target on shares of ONEOK from $90.00 to $82.00 and set an “equal weight” rating for the company in a research report on Thursday, October 30th. Mizuho reduced their price objective on ONEOK from $87.00 to $82.00 and set a “neutral” rating on the stock in a research note on Friday, August 29th. Royal Bank Of Canada decreased their target price on ONEOK from $94.00 to $88.00 and set a “sector perform” rating for the company in a report on Wednesday, August 13th. Scotiabank cut their price target on ONEOK from $88.00 to $87.00 and set a “sector outperform” rating on the stock in a report on Tuesday. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $82.00 price target (down previously from $100.00) on shares of ONEOK in a research report on Friday, October 24th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, ONEOK has a consensus rating of “Moderate Buy” and an average price target of $92.80.

ONEOK Stock Performance

Shares of OKE stock opened at $64.30 on Wednesday. ONEOK, Inc. has a 12 month low of $64.02 and a 12 month high of $118.07. The company has a current ratio of 0.90, a quick ratio of 0.46 and a debt-to-equity ratio of 1.44. The company has a market cap of $40.46 billion, a P/E ratio of 11.82, a PEG ratio of 2.62 and a beta of 1.01. The firm has a fifty day moving average price of $71.42 and a 200 day moving average price of $77.50.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Tuesday, October 28th. The utilities provider reported $1.49 earnings per share (EPS) 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 company had revenue of $9.17 billion during the quarter, compared to the consensus estimate of $8.23 billion. During the same period in the previous year, the business earned $1.18 EPS. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. Sell-side analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Monday, November 3rd will be paid a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 6.4%. The ex-dividend date is Monday, November 3rd. ONEOK’s dividend payout ratio is currently 75.74%.

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.