Trust Co. of Oklahoma Grows Stock Holdings in ONEOK, Inc. $OKE

Trust Co. of Oklahoma increased its position in shares of ONEOK, Inc. (NYSE:OKE) by 11.3% in the 2nd quarter, HoldingsChannel reports. The fund owned 4,178 shares of the utilities provider’s stock after acquiring an additional 424 shares during the period. Trust Co. of Oklahoma’s holdings in ONEOK were worth $341,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of ONEOK by 7.2% in the 1st quarter. Vanguard Group Inc. now owns 75,196,969 shares of the utilities provider’s stock worth $7,461,043,000 after purchasing an additional 5,076,705 shares in the last quarter. Nuveen LLC purchased a new stake in ONEOK in the first quarter valued at about $440,535,000. Boston Partners purchased a new stake in ONEOK in the first quarter valued at about $353,596,000. Charles Schwab Investment Management Inc. boosted its holdings in ONEOK by 13.8% in 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 acquiring an additional 2,542,449 shares in the last quarter. Finally, Wellington Management Group LLP grew its stake in shares of ONEOK by 51.9% during the first quarter. Wellington Management Group LLP now owns 6,388,987 shares of the utilities provider’s stock worth $633,915,000 after acquiring an additional 2,182,081 shares during the last quarter. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Raymond James Financial restated an “outperform” rating on shares of ONEOK in a research note on Friday, August 1st. Mizuho dropped their price objective on shares of ONEOK from $87.00 to $82.00 and set a “neutral” rating on the stock in a report on Friday, August 29th. JPMorgan Chase & Co. raised their target price on ONEOK from $94.00 to $97.00 and gave the stock an “overweight” rating in a research note on Thursday, July 3rd. TD Cowen began coverage on ONEOK in a research report on Monday, July 7th. They set a “hold” rating and a $91.00 price target for the company. Finally, Barclays set a $83.00 price objective on ONEOK in a report on Thursday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, ONEOK currently has an average rating of “Moderate Buy” and an average price target of $100.60.

ONEOK Price Performance

Shares of OKE opened at $73.10 on Friday. The business’s 50-day moving average is $77.18 and its two-hundred day moving average is $83.26. The company has a market capitalization of $46.04 billion, a P/E ratio of 14.25, a P/E/G ratio of 1.74 and a beta of 1.04. ONEOK, Inc. has a fifty-two week low of $70.63 and a fifty-two week high of $118.07. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.46 and a current ratio of 0.59.

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

ONEOK Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Friday, August 1st were issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 5.6%. The ex-dividend date of this dividend was Friday, August 1st. ONEOK’s payout ratio is 80.31%.

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.