Healthcare of Ontario Pension Plan Trust Fund Invests $47.96 Million in ONEOK, Inc. (NYSE:OKE)

28 Nov 2024, 07:43 by Renee Jackson · The Cerbat Gem

Healthcare of Ontario Pension Plan Trust Fund purchased a new position in ONEOK, Inc. (NYSE:OKE – Free Report) during the third quarter, HoldingsChannel.com reports. The fund purchased 526,247 shares of the utilities provider’s stock, valued at approximately $47,957,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Townsquare Capital LLC raised its stake in ONEOK by 6.7% in the third quarter. Townsquare Capital LLC now owns 107,342 shares of the utilities provider’s stock valued at $9,782,000 after purchasing an additional 6,767 shares in the last quarter. Principal Street Partners LLC grew its holdings in shares of ONEOK by 41.3% in the third quarter. Principal Street Partners LLC now owns 6,323 shares of the utilities provider’s stock worth $525,000 after purchasing an additional 1,848 shares during the last quarter. Avestar Capital LLC bought a new position in shares of ONEOK in the third quarter worth approximately $216,000. Brooklyn Investment Group grew its holdings in shares of ONEOK by 3.4% in the third quarter. Brooklyn Investment Group now owns 4,346 shares of the utilities provider’s stock worth $396,000 after purchasing an additional 143 shares during the last quarter. Finally, FMR LLC boosted its holdings in ONEOK by 11.7% in the third quarter. FMR LLC now owns 1,171,917 shares of the utilities provider’s stock valued at $106,797,000 after acquiring an additional 122,362 shares in the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Pattye L. Moore sold 3,379 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $92.01, for a total transaction of $310,901.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

ONEOK Stock Performance

NYSE:OKE opened at $112.59 on Thursday. The stock’s fifty day moving average is $99.98 and its 200 day moving average is $89.62. ONEOK, Inc. has a fifty-two week low of $65.49 and a fifty-two week high of $118.07. The firm has a market capitalization of $65.77 billion, a PE ratio of 23.55, a PEG ratio of 5.56 and a beta of 1.66. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81.

ONEOK (NYSE:OKE – Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The firm had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $5.81 billion. During the same period in the previous year, the company posted $0.99 EPS. On average, sell-side analysts anticipate that ONEOK, Inc. will post 5.15 earnings per share for the current year.

ONEOK Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were issued a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.52%. The ex-dividend date of this dividend was Friday, November 1st. ONEOK’s dividend payout ratio (DPR) is 82.85%.

Wall Street Analysts Forecast Growth

OKE has been the subject of several recent research reports. Truist Financial raised their price objective on ONEOK from $83.00 to $99.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. UBS Group lifted their price target on ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Scotiabank boosted their target price on ONEOK from $88.00 to $102.00 and gave the stock a “sector outperform” rating in a research report on Friday, August 30th. Bank of America initiated coverage on ONEOK in a research note on Thursday, October 17th. They set a “buy” rating and a $105.00 price target for the company. Finally, Barclays boosted their price objective on ONEOK from $94.00 to $99.00 and gave the company an “equal weight” rating in a research note on Monday, November 4th. Seven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $100.38.

Read Our Latest Research Report on ONEOK

ONEOK Profile

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