Nordea Investment Management AB Has $2.83 Million Stock Holdings in ONEOK, Inc. (NYSE:OKE)

Nordea Investment Management AB grew its stake in ONEOK, Inc. (NYSE:OKE) by 4.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,326 shares of the utilities provider’s stock after purchasing an additional 1,513 shares during the quarter. Nordea Investment Management AB’s holdings in ONEOK were worth $2,827,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Hilltop Holdings Inc. increased its stake in shares of ONEOK by 7.3% during the fourth quarter. Hilltop Holdings Inc. now owns 16,525 shares of the utilities provider’s stock worth $1,160,000 after purchasing an additional 1,124 shares during the period. Fifth Third Bancorp lifted its holdings in shares of ONEOK by 16.2% during the fourth quarter. Fifth Third Bancorp now owns 21,800 shares of the utilities provider’s stock worth $1,531,000 after buying an additional 3,032 shares in the last quarter. Kestra Private Wealth Services LLC grew its stake in shares of ONEOK by 26.6% in the fourth quarter. Kestra Private Wealth Services LLC now owns 24,568 shares of the utilities provider’s stock valued at $1,725,000 after acquiring an additional 5,167 shares in the last quarter. Federated Hermes Inc. boosted its stake in shares of ONEOK by 31.6% in the fourth quarter. Federated Hermes Inc. now owns 160,596 shares of the utilities provider’s stock valued at $11,277,000 after buying an additional 38,560 shares during the period. Finally, TD Asset Management Inc increased its stake in ONEOK by 11.6% during the 4th quarter. TD Asset Management Inc now owns 208,063 shares of the utilities provider’s stock worth $14,610,000 after acquiring an additional 21,657 shares during the period. 69.13% of the stock is owned by institutional investors.

ONEOK Stock Performance

OKE opened at $82.32 on Thursday. The company has a market cap of $48.05 billion, a price-to-earnings ratio of 19.14, a PEG ratio of 4.39 and a beta of 1.65. The company’s fifty day moving average price is $80.50 and its two-hundred day moving average price is $76.58. ONEOK, Inc. has a 1-year low of $60.58 and a 1-year high of $83.31. The company has a current ratio of 0.70, a quick ratio of 0.48 and a debt-to-equity ratio of 1.24.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.03. ONEOK had a return on equity of 15.94% and a net margin of 12.54%. The business had revenue of $4.78 billion during the quarter, compared to the consensus estimate of $5.84 billion. During the same quarter in the previous year, the business earned $2.34 EPS. On average, analysts expect that ONEOK, Inc. will post 4.95 EPS for the current fiscal year.

ONEOK Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st were given a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 4.81%. The ex-dividend date of this dividend was Tuesday, April 30th. ONEOK’s payout ratio is 92.09%.

Analyst Ratings Changes

Several research firms recently issued reports on OKE. Mizuho increased their price target on shares of ONEOK from $75.00 to $81.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 20th. Truist Financial boosted their target price on shares of ONEOK from $71.00 to $81.00 and gave the stock a “hold” rating in a report on Thursday, March 21st. US Capital Advisors downgraded shares of ONEOK from an “overweight” rating to a “hold” rating in a research note on Wednesday, March 20th. StockNews.com raised shares of ONEOK from a “sell” rating to a “hold” rating in a research note on Friday, May 17th. Finally, Morgan Stanley raised their price target on shares of ONEOK from $90.00 to $93.00 and gave the stock an “equal weight” rating in a report on Monday, June 10th. One analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $84.50.

ONEOK Company Profile

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.