abrdn plc Has $195.55 Million Stock Position in ONEOK, Inc. (NYSE:OKE)

abrdn plc raised its position in ONEOK, Inc. (NYSE:OKE) by 14.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,149,676 shares of the utilities provider’s stock after buying an additional 277,514 shares during the period. abrdn plc owned 0.37% of ONEOK worth $195,545,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Tortoise Capital Advisors L.L.C. raised its position in ONEOK by 3.5% in the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 6,795,313 shares of the utilities provider’s stock worth $554,158,000 after purchasing an additional 232,043 shares during the last quarter. Kayne Anderson Capital Advisors LP lifted its position in ONEOK by 28.7% in the 1st quarter. Kayne Anderson Capital Advisors LP now owns 3,705,367 shares of the utilities provider’s stock valued at $297,059,000 after acquiring an additional 825,464 shares in the last quarter. First Eagle Investment Management LLC boosted its position in shares of ONEOK by 12.3% during the first quarter. First Eagle Investment Management LLC now owns 3,465,068 shares of the utilities provider’s stock worth $277,795,000 after buying an additional 378,509 shares during the period. Energy Income Partners LLC boosted its position in ONEOK by 10.3% during the 1st quarter. Energy Income Partners LLC now owns 3,434,728 shares of the utilities provider’s stock worth $275,362,000 after acquiring an additional 319,487 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in ONEOK by 4.1% in the second quarter. Dimensional Fund Advisors LP now owns 3,340,155 shares of the utilities provider’s stock valued at $272,377,000 after purchasing an additional 132,326 shares in the last quarter. 69.13% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

OKE has been the subject of a number of analyst reports. Barclays raised their price target on ONEOK from $82.00 to $94.00 and gave the company an “equal weight” rating in a research note on Monday, September 16th. Royal Bank of Canada raised their price objective on ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 16th. Citigroup boosted their target price on ONEOK from $85.00 to $102.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Morgan Stanley raised shares of ONEOK from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $103.00 to $111.00 in a report on Monday, September 16th. Finally, Tudor Pickering raised ONEOK to a “hold” rating in a report on Thursday, July 18th. Eight equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $94.77.

Insider Transactions at ONEOK

In related news, Director Pattye L. Moore sold 3,379 shares of the stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $92.01, for a total value of $310,901.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.20% of the company’s stock.

ONEOK Stock Performance

Shares of OKE stock opened at $96.02 on Tuesday. The business’s 50-day moving average price is $93.01 and its 200-day moving average price is $85.44. ONEOK, Inc. has a 12 month low of $63.33 and a 12 month high of $98.43. The company has a current ratio of 0.62, a quick ratio of 0.41 and a debt-to-equity ratio of 1.22. The firm has a market capitalization of $56.08 billion, a price-to-earnings ratio of 20.92, a PEG ratio of 4.17 and a beta of 1.67.

ONEOK (NYSE:OKE) last issued its quarterly earnings results on Monday, August 5th. The utilities provider reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.12. The company had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $5.52 billion. ONEOK had a return on equity of 15.54% and a net margin of 13.41%. During the same quarter in the prior year, the firm posted $1.04 earnings per share. Equities research analysts forecast that ONEOK, Inc. will post 5.1 EPS for the current year.

ONEOK Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Friday, November 1st will be issued a $0.99 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a $3.96 dividend on an annualized basis and a dividend yield of 4.12%. ONEOK’s dividend payout ratio is presently 86.27%.

About ONEOK

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.