Hardman Johnston Global Advisors LLC Reduces Stock Position in ONEOK, Inc. $OKE

Hardman Johnston Global Advisors LLC decreased its position in ONEOK, Inc. (NYSE:OKE) by 57.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 5,369 shares of the utilities provider’s stock after selling 7,280 shares during the period. Hardman Johnston Global Advisors LLC’s holdings in ONEOK were worth $392,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of ONEOK by 1.7% during the second quarter. Vanguard Group Inc. now owns 76,510,971 shares of the utilities provider’s stock worth $6,245,591,000 after buying an additional 1,314,002 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in ONEOK by 2.9% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 21,570,904 shares of the utilities provider’s stock worth $1,760,833,000 after acquiring an additional 613,674 shares during the period. Geode Capital Management LLC raised its holdings in ONEOK by 2.3% in the 2nd quarter. Geode Capital Management LLC now owns 15,800,797 shares of the utilities provider’s stock valued at $1,284,303,000 after acquiring an additional 355,751 shares during the last quarter. Invesco Ltd. raised its holdings in ONEOK by 0.6% in the 2nd quarter. Invesco Ltd. now owns 8,386,831 shares of the utilities provider’s stock valued at $684,617,000 after acquiring an additional 46,892 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of ONEOK during the 2nd quarter worth $562,832,000. 69.13% of the stock is owned by institutional investors and hedge funds.

ONEOK Stock Up 0.5%

Shares of NYSE:OKE opened at $72.68 on Monday. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.75 and a current ratio of 0.90. ONEOK, Inc. has a 1 year low of $64.02 and a 1 year high of $111.02. The stock has a market capitalization of $45.73 billion, a P/E ratio of 13.36, a PEG ratio of 4.06 and a beta of 0.94. The stock has a 50-day simple moving average of $71.65 and a 200-day simple moving average of $73.88.

ONEOK (NYSE:OKE) last posted its quarterly earnings results on Tuesday, October 28th. The utilities provider reported $1.49 EPS for the quarter, beating the consensus estimate of $1.48 by $0.01. The firm had revenue of $8.63 billion for the quarter, compared to analyst estimates of $8.23 billion. ONEOK had a net margin of 10.58% and a return on equity of 15.12%. During the same quarter last year, the firm posted $1.18 earnings per share. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. Equities analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Monday, November 3rd were issued a dividend of $1.03 per share. The ex-dividend date was Monday, November 3rd. This represents a $4.12 annualized dividend and a dividend yield of 5.7%. ONEOK’s payout ratio is presently 75.74%.

Insiders Place Their Bets

In related news, Director Brian L. Derksen purchased 2,500 shares of the stock in a transaction that occurred on Monday, November 3rd. The stock was purchased 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 in the company, valued at approximately $1,399,200. This trade represents a 13.37% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Argus raised ONEOK from a “hold” rating to a “buy” rating and set a $79.00 price objective for the company in a research report on Thursday, November 6th. Citigroup lowered their price target on ONEOK from $102.00 to $95.00 and set a “buy” rating for the company in a report on Friday, October 31st. TD Cowen dropped their price objective on shares of ONEOK from $78.00 to $76.00 and set a “hold” rating for the company in a research note on Thursday, October 30th. Barclays decreased their target price on shares of ONEOK from $83.00 to $78.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 9th. Finally, UBS Group restated a “buy” rating on shares of ONEOK in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.00.

ONEOK Company Profile

ONEOK, Inc (NYSE: OKE) is a publicly traded midstream energy company headquartered in Tulsa, Oklahoma. The company owns and operates a portfolio of natural gas and natural gas liquids (NGL) pipelines, processing facilities, fractionators and storage and terminal assets. Its operations are focused on gathering, processing, transporting, fractionating and marketing NGLs and interstate natural gas, providing critical infrastructure that connects hydrocarbon production to refineries, petrochemical plants and other end markets.

ONEOK’s asset base includes pipeline systems and processing plants that move and condition natural gas, along with infrastructure for the transportation, storage and fractionation of NGLs such as ethane, propane and butane.