Aberdeen Group plc Acquires 96,128 Shares of ONEOK, Inc. $OKE

Aberdeen Group plc boosted its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 17.2% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 653,794 shares of the utilities provider’s stock after purchasing an additional 96,128 shares during the period. Aberdeen Group plc’s holdings in ONEOK were worth $53,428,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in OKE. Brighton Jones LLC lifted its holdings in ONEOK by 137.1% during the fourth quarter. Brighton Jones LLC now owns 15,278 shares of the utilities provider’s stock worth $1,534,000 after acquiring an additional 8,834 shares in the last quarter. Park Avenue Securities LLC lifted its holdings in ONEOK by 2.8% during the first quarter. Park Avenue Securities LLC now owns 7,816 shares of the utilities provider’s stock worth $776,000 after acquiring an additional 214 shares in the last quarter. Simon Quick Advisors LLC lifted its holdings in ONEOK by 11.6% during the first quarter. Simon Quick Advisors LLC now owns 2,793 shares of the utilities provider’s stock worth $277,000 after acquiring an additional 291 shares in the last quarter. Fifth Third Bancorp lifted its holdings in ONEOK by 8.6% during the first quarter. Fifth Third Bancorp now owns 29,252 shares of the utilities provider’s stock worth $2,902,000 after acquiring an additional 2,312 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH lifted its holdings in shares of ONEOK by 60.8% in the first quarter. Fort Washington Investment Advisors Inc. OH now owns 58,053 shares of the utilities provider’s stock valued at $5,760,000 after purchasing an additional 21,943 shares in the last quarter. 69.13% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Barclays cut their price target on ONEOK from $83.00 to $78.00 and set an “equal weight” rating on the stock in a report on Thursday. Morgan Stanley cut their price target on ONEOK from $122.00 to $110.00 and set an “overweight” rating on the stock in a report on Tuesday, August 26th. Mizuho cut their price target on ONEOK from $87.00 to $82.00 and set a “neutral” rating on the stock in a report on Friday, August 29th. Raymond James Financial restated an “outperform” rating on shares of ONEOK in a report on Friday, August 1st. Finally, Scotiabank set a $92.00 price target on ONEOK and gave the company a “sector outperform” rating in a report on Tuesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $98.69.

ONEOK Stock Performance

OKE opened at $69.22 on Friday. ONEOK, Inc. has a 52-week low of $69.08 and a 52-week high of $118.07. The firm has a market capitalization of $43.59 billion, a PE ratio of 13.49, a PEG ratio of 1.70 and a beta of 1.01. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.46 and a current ratio of 0.59. The business’s 50-day simple moving average is $73.67 and its 200 day simple moving average is $79.94.

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

ONEOK Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Shareholders 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 6.0%. The ex-dividend date of this dividend was Friday, August 1st. ONEOK’s payout ratio is 80.31%.

About ONEOK

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.