Charles Schwab Investment Management Inc. Boosts Stock Position in ONEOK, Inc. $OKE

Charles Schwab Investment Management Inc. increased its holdings in ONEOK, Inc. (NYSE:OKE) by 2.9% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 21,570,904 shares of the utilities provider’s stock after purchasing an additional 613,674 shares during the period. Charles Schwab Investment Management Inc.’s holdings in ONEOK were worth $1,760,833,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the business. American Century Companies Inc. raised its position in shares of ONEOK by 24.7% during the 2nd quarter. American Century Companies Inc. now owns 1,356,299 shares of the utilities provider’s stock valued at $110,715,000 after buying an additional 268,379 shares in the last quarter. WealthBridge Capital Management LLC increased its stake in ONEOK by 12.7% during the second quarter. WealthBridge Capital Management LLC now owns 10,616 shares of the utilities provider’s stock worth $867,000 after acquiring an additional 1,197 shares during the last quarter. Stevens Capital Management LP bought a new stake in shares of ONEOK in the 2nd quarter valued at approximately $489,000. Rhumbline Advisers boosted its holdings in shares of ONEOK by 0.3% in the 2nd quarter. Rhumbline Advisers now owns 1,242,492 shares of the utilities provider’s stock worth $101,425,000 after purchasing an additional 4,015 shares during the period. Finally, AlphaCore Capital LLC boosted its holdings in shares of ONEOK by 31.9% in the 2nd quarter. AlphaCore Capital LLC now owns 2,900 shares of the utilities provider’s stock worth $237,000 after purchasing an additional 702 shares during the period. Institutional investors own 69.13% of the company’s stock.

ONEOK Trading Up 1.1%

Shares of OKE opened at $70.52 on Friday. The firm has a market capitalization of $44.37 billion, a price-to-earnings ratio of 12.96, a PEG ratio of 2.62 and a beta of 1.05. The company has a debt-to-equity ratio of 1.44, a current ratio of 0.90 and a quick ratio of 0.46. ONEOK, Inc. has a 1-year low of $64.02 and a 1-year high of $118.07. The company has a 50-day moving average of $70.09 and a 200 day moving average of $76.19.

ONEOK (NYSE:OKE) last issued its earnings results on Tuesday, October 28th. The utilities provider reported $1.49 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 for the quarter, compared to the consensus estimate of $8.23 billion. During the same period in the prior year, the firm earned $1.18 EPS. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. On average, research analysts expect that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Monday, November 3rd were issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 5.8%. The ex-dividend date was Monday, November 3rd. ONEOK’s dividend payout ratio (DPR) is presently 75.74%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Stifel Nicolaus set a $94.00 price target on ONEOK in a research report on Thursday, October 30th. Scotiabank lowered their target price on shares of ONEOK from $88.00 to $87.00 and set a “sector outperform” rating for the company in a report on Tuesday, November 4th. TD Cowen cut their price target on shares of ONEOK from $78.00 to $76.00 and set a “hold” rating on the stock in a report on Thursday, October 30th. Morgan Stanley decreased their price objective on shares of ONEOK from $122.00 to $110.00 and set an “overweight” rating for the company in a research note on Tuesday, August 26th. Finally, Wells Fargo & Company cut their target price on ONEOK from $90.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 30th. One equities 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 stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $89.27.

Insiders Place Their Bets

In other news, Director Brian L. Derksen bought 2,500 shares of the stock in a transaction on Monday, November 3rd. The stock was acquired at an average cost of $66.00 per share, for a total transaction of $165,000.00. Following the acquisition, the director owned 21,200 shares of the company’s stock, valued at $1,399,200. This represents a 13.37% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.21% of the stock is currently owned by company insiders.

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.