Nordea Investment Management AB Raises Position in ONEOK, Inc. $OKE

Nordea Investment Management AB lifted its holdings in ONEOK, Inc. (NYSE:OKE) by 7.5% in the third quarter, Holdings Channel reports. The firm owned 777,262 shares of the utilities provider’s stock after buying an additional 54,444 shares during the period. Nordea Investment Management AB’s holdings in ONEOK were worth $55,885,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in ONEOK by 1.7% in the second quarter. Vanguard Group Inc. now owns 76,510,971 shares of the utilities provider’s stock worth $6,245,591,000 after acquiring an additional 1,314,002 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of 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 valued at $1,760,833,000 after purchasing an additional 613,674 shares during the last quarter. Geode Capital Management LLC boosted its stake 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 worth $1,284,303,000 after purchasing an additional 355,751 shares in the last quarter. Invesco Ltd. grew its position in ONEOK by 0.6% during the 2nd quarter. Invesco Ltd. now owns 8,386,831 shares of the utilities provider’s stock worth $684,617,000 after purchasing an additional 46,892 shares during the last quarter. Finally, Norges Bank acquired a new position in ONEOK during the 2nd quarter valued at approximately $562,832,000. 69.13% of the stock is owned by institutional investors and hedge funds.

ONEOK Trading Up 2.1%

Shares of NYSE:OKE opened at $75.84 on Thursday. The company has a market capitalization of $47.72 billion, a PE ratio of 13.94, a PEG ratio of 4.14 and a beta of 0.94. ONEOK, Inc. has a 12-month low of $64.02 and a 12-month high of $111.02. The business has a 50 day moving average of $72.18 and a two-hundred day moving average of $73.78. The company has a current ratio of 0.90, a quick ratio of 0.75 and a debt-to-equity ratio of 1.44.

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

Analysts Set New Price Targets

Several research firms have recently commented on OKE. Stifel Nicolaus set a $94.00 price objective on shares of ONEOK in a research note on Thursday, October 30th. The Goldman Sachs Group reissued a “neutral” rating and issued a $72.00 price objective on shares of ONEOK in a report on Monday, November 3rd. Scotiabank decreased their target price on ONEOK from $88.00 to $87.00 and set a “sector outperform” rating for the company in a report on Tuesday, November 4th. Weiss Ratings reissued a “hold (c)” rating on shares of ONEOK in a research report on Monday, December 29th. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $82.00 price objective (down from $100.00) on shares of ONEOK in a report on Friday, October 24th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, ONEOK has a consensus rating of “Moderate Buy” and a consensus target price of $88.00.

Insider Activity at ONEOK

In other ONEOK news, Director Brian L. Derksen bought 2,500 shares of the company’s stock in a transaction dated Monday, November 3rd. The shares were purchased at an average cost of $66.00 per share, for a total transaction of $165,000.00. Following the transaction, the director directly owned 21,200 shares of the company’s stock, valued at approximately $1,399,200. The trade was a 13.37% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.21% of the stock is owned by company insiders.

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.