Panagora Asset Management Inc. Buys 291,250 Shares of ONEOK, Inc. $OKE

Panagora Asset Management Inc. increased its position in shares of ONEOK, Inc. (NYSE:OKE) by 6,007.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 296,098 shares of the utilities provider’s stock after purchasing an additional 291,250 shares during the period. Panagora Asset Management Inc.’s holdings in ONEOK were worth $24,170,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Financial Network Wealth Advisors LLC lifted its stake in shares of ONEOK by 2,466.7% during the 1st quarter. Financial Network Wealth Advisors LLC now owns 385 shares of the utilities provider’s stock worth $38,000 after acquiring an additional 370 shares during the last quarter. Access Investment Management LLC purchased a new stake in ONEOK in the second quarter worth $33,000. Cheviot Value Management LLC purchased a new stake in ONEOK in the first quarter worth $46,000. Trust Co. of Toledo NA OH bought a new stake in shares of ONEOK during the second quarter worth $42,000. Finally, MTM Investment Management LLC purchased a new stake in shares of ONEOK during the second quarter valued at $44,000. Institutional investors own 69.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on OKE shares. Mizuho reduced their price target on shares of ONEOK from $87.00 to $82.00 and set a “neutral” rating on the stock in a research note on Friday, August 29th. Barclays lowered their price target on ONEOK from $83.00 to $78.00 and set an “equal weight” rating for the company in a report on Thursday, October 9th. Wells Fargo & Company reduced their price objective on ONEOK from $90.00 to $82.00 and set an “equal weight” rating on the stock in a report on Thursday, October 30th. TD Cowen dropped their price target on ONEOK from $78.00 to $76.00 and set a “hold” rating on the stock in a research report on Thursday, October 30th. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $82.00 price objective (down from $100.00) on shares of ONEOK in a research note on Friday, October 24th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, ONEOK currently has an average rating of “Moderate Buy” and an average price target of $89.27.

Insiders Place Their Bets

In other ONEOK news, Director Brian L. Derksen purchased 2,500 shares of ONEOK stock in a transaction on Monday, November 3rd. The stock was bought at an average cost of $66.00 per share, with a total value of $165,000.00. Following the transaction, the director owned 21,200 shares of the company’s stock, valued at $1,399,200. This represents a 13.37% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.21% of the company’s stock.

ONEOK Price Performance

Shares of OKE stock opened at $73.64 on Tuesday. ONEOK, Inc. has a fifty-two week low of $64.02 and a fifty-two week high of $113.63. 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 firm has a market capitalization of $46.34 billion, a price-to-earnings ratio of 13.54, a PEG ratio of 2.62 and a beta of 1.05. The stock’s 50-day simple moving average is $70.00 and its 200-day simple moving average is $75.61.

ONEOK (NYSE:OKE) last posted 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 net margin of 10.58% and a return on equity of 15.12%. The business had revenue of $8.63 billion during the quarter, compared to analysts’ expectations of $8.23 billion. During the same quarter last year, the company posted $1.18 earnings per share. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. As a group, equities analysts forecast 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 was paid on Friday, November 14th. Investors of record on Monday, November 3rd were given a $1.03 dividend. The ex-dividend date was Monday, November 3rd. This represents a $4.12 dividend on an annualized basis and a yield of 5.6%. ONEOK’s dividend payout ratio is currently 75.74%.

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.