ONEOK, Inc. $OKE Shares Bought 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 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,840,798 shares of the utilities provider’s stock after purchasing an additional 113,548 shares during the quarter. Bank of New York Mellon Corp’s holdings in ONEOK were worth $395,154,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Bogart Wealth LLC boosted its position in shares of ONEOK by 3.1% in the 2nd quarter. Bogart Wealth LLC now owns 4,031 shares of the utilities provider’s stock valued at $329,000 after purchasing an additional 122 shares during the period. Presima Securities ULC boosted its holdings in shares of ONEOK by 1.4% in the first quarter. Presima Securities ULC now owns 9,477 shares of the utilities provider’s stock valued at $940,000 after acquiring an additional 127 shares during the period. Clearstead Trust LLC grew its position in shares of ONEOK by 5.0% during the first quarter. Clearstead Trust LLC now owns 2,792 shares of the utilities provider’s stock worth $277,000 after acquiring an additional 133 shares during the last quarter. Capital Investment Advisory Services LLC increased its holdings in shares of ONEOK by 4.5% in the 1st quarter. Capital Investment Advisory Services LLC now owns 3,132 shares of the utilities provider’s stock valued at $311,000 after acquiring an additional 134 shares during the period. Finally, Empowered Funds LLC increased its holdings in shares of ONEOK by 0.8% in the 1st quarter. Empowered Funds LLC now owns 17,957 shares of the utilities provider’s stock valued at $1,782,000 after acquiring an additional 137 shares during the period. Institutional investors and hedge funds own 69.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on OKE. Weiss Ratings reiterated a “hold (c+)” rating on shares of ONEOK in a research note on Wednesday, October 8th. Stifel Nicolaus set a $94.00 price target on shares of ONEOK in a report on Thursday, October 30th. The Goldman Sachs Group reissued a “neutral” rating and issued a $72.00 target price on shares of ONEOK in a report on Monday. Barclays lowered 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, October 9th. Finally, Scotiabank dropped their price objective on ONEOK from $88.00 to $87.00 and set a “sector outperform” rating for the company in a research note on Tuesday. One investment 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 stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $92.80.

ONEOK Stock Performance

NYSE OKE opened at $64.30 on Wednesday. The company has a quick ratio of 0.46, a current ratio of 0.90 and a debt-to-equity ratio of 1.44. ONEOK, Inc. has a fifty-two week low of $64.02 and a fifty-two week high of $118.07. The business has a fifty day moving average of $71.42 and a 200-day moving average of $77.50. The stock has a market cap of $40.46 billion, a price-to-earnings ratio of 11.82, a price-to-earnings-growth ratio of 2.62 and a beta of 1.01.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Tuesday, October 28th. The utilities provider reported $1.49 EPS for the quarter, beating 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 business had revenue of $9.17 billion for the quarter, compared to analyst estimates of $8.23 billion. During the same quarter last year, the company earned $1.18 earnings per share. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. As a group, analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Monday, November 3rd will be paid a dividend of $1.03 per share. The ex-dividend date of this dividend is Monday, November 3rd. This represents a $4.12 annualized dividend and a dividend yield of 6.4%. ONEOK’s dividend payout ratio is presently 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.