Nordea Investment Management AB Has $1.54 Million Stake in ONEOK, Inc. (NYSE:OKE)

Posted by on May 13th, 2023

Nordea Investment Management AB cut its stake in shares of ONEOK, Inc. (NYSE:OKE – Get Rating) by 14.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 23,572 shares of the utilities provider’s stock after selling 3,974 shares during the quarter. Nordea Investment Management AB’s holdings in ONEOK were worth $1,544,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. First Command Bank lifted its holdings in ONEOK by 401.0% during the 2nd quarter. First Command Bank now owns 491 shares of the utilities provider’s stock worth $27,000 after buying an additional 393 shares during the period. MinichMacGregor Wealth Management LLC acquired a new position in ONEOK during the 4th quarter worth about $29,000. Worth Asset Management LLC acquired a new position in ONEOK during the 1st quarter worth about $30,000. CI Investments Inc. lifted its holdings in ONEOK by 1,003.7% during the 3rd quarter. CI Investments Inc. now owns 596 shares of the utilities provider’s stock worth $31,000 after buying an additional 542 shares during the period. Finally, RFP Financial Group LLC acquired a new position in ONEOK during the 4th quarter worth about $39,000. 67.16% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

OKE has been the topic of several recent research reports. Royal Bank of Canada lifted their target price on ONEOK from $74.00 to $75.00 in a report on Tuesday, April 18th. Citigroup raised ONEOK from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $71.00 to $72.00 in a research note on Tuesday, April 4th. StockNews.com raised ONEOK from a “hold” rating to a “buy” rating in a research note on Friday, May 5th. Scotiabank assumed coverage on ONEOK in a research note on Thursday, March 2nd. They issued a “sector perform” rating and a $74.00 price objective on the stock. Finally, Seaport Res Ptn reissued a “neutral” rating on shares of ONEOK in a research note on Thursday, February 16th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $74.91.

ONEOK Stock Performance

Shares of OKE opened at $63.72 on Friday. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.92 and a current ratio of 1.18. The stock has a 50 day moving average price of $64.17 and a two-hundred day moving average price of $65.28. The firm has a market capitalization of $28.51 billion, a P/E ratio of 12.02, a P/E/G ratio of 1.64 and a beta of 1.68. ONEOK, Inc. has a 52 week low of $50.50 and a 52 week high of $71.57.

ONEOK (NYSE:OKE – Get Rating) last issued its quarterly earnings data on Tuesday, May 2nd. The utilities provider reported $2.34 EPS for the quarter, topping analysts’ consensus estimates of $1.81 by $0.53. ONEOK had a return on equity of 36.54% and a net margin of 11.09%. The firm had revenue of $4.52 billion during the quarter, compared to analyst estimates of $5.13 billion. During the same period in the previous year, the company posted $0.87 EPS. Equities analysts forecast that ONEOK, Inc. will post 5.43 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 15th. Stockholders of record on Monday, May 1st will be paid a $0.955 dividend. The ex-dividend date of this dividend is Friday, April 28th. This represents a $3.82 dividend on an annualized basis and a dividend yield of 5.99%. ONEOK’s payout ratio is presently 72.08%.

ONEOK Company Profile

(Get Rating)

ONEOK, Inc engages in gathering, processing, fractionating, transporting, storing and marketing of natural gas. It operates through the following segments: Natural Gas Gathering and Processing, Natural Gas Liquids and Natural Gas Pipelines. The Natural Gas Gathering and Processing segment offers midstream services to producers in North Dakota, Montana, Wyoming, Kansas and Oklahoma.

See Also

Want to see what other hedge funds are holding OKE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ONEOK, Inc. (NYSE:OKE – Get Rating).

Institutional Ownership by Quarter for ONEOK (NYSE:OKE)

Receive News & Ratings for ONEOK Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ONEOK and related companies with MarketBeat.com's FREE daily email newsletter.