Nordea Investment Management AB Boosts Holdings in ONEOK, Inc. $OKE

Nordea Investment Management AB grew its position in ONEOK, Inc. (NYSE:OKE) by 7.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 777,262 shares of the utilities provider’s stock after acquiring an additional 54,444 shares during the quarter. Nordea Investment Management AB owned about 0.12% of ONEOK worth $55,885,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position 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 valued at $6,245,591,000 after buying an additional 1,314,002 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of ONEOK by 2.9% during 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 last quarter. Geode Capital Management LLC boosted its holdings in ONEOK by 2.3% during 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 period. Invesco Ltd. grew its position 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 stake in ONEOK in the second quarter worth $562,832,000. 69.13% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on OKE. UBS Group reissued a “buy” rating on shares of ONEOK in a research note on Wednesday, January 7th. Raymond James Financial reissued an “outperform” rating and issued a $82.00 price objective (down from $100.00) on shares of ONEOK in a research report on Friday, October 24th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $72.00 price target on shares of ONEOK in a research note on Monday, November 3rd. Stifel Nicolaus set a $94.00 price target on ONEOK in a report on Thursday, October 30th. Finally, Barclays reduced their price objective on ONEOK from $83.00 to $78.00 and set an “equal weight” rating on the stock in a report on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.00.

Insider Buying and Selling

In other news, Director Brian L. Derksen purchased 2,500 shares of the firm’s stock in a transaction on Monday, November 3rd. The stock was acquired at an average cost of $66.00 per share, with a total value of $165,000.00. Following the completion of the transaction, the director owned 21,200 shares in the company, valued at $1,399,200. This represents a 13.37% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.21% of the company’s stock.

ONEOK Stock Performance

Shares of NYSE:OKE opened at $75.84 on Thursday. The firm has a 50 day moving average of $72.18 and a 200 day moving average of $73.78. The company has a quick ratio of 0.75, a current ratio of 0.90 and a debt-to-equity ratio of 1.44. The company has a market capitalization of $47.72 billion, a price-to-earnings ratio of 13.94, a price-to-earnings-growth ratio of 4.14 and a beta of 0.94. ONEOK, Inc. has a 52 week low of $64.02 and a 52 week high of $111.02.

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

About ONEOK

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.