BlackRock expands energy and utility holdings with multi-billion dollar investments

BlackRock Inc. has significantly expanded its presence in the energy and utility sectors through substantial new and increased positions in several major companies, according to recent SEC filings.

In the second quarter, BlackRock increased its holdings in ONEOK, Inc. by 8.7%, bringing its total ownership to approximately 64.5 million shares valued at over $5.6 billion. The firm also established a new position in EOG Resources, Inc., acquiring approximately 45.5 million shares worth roughly $5.9 billion, representing an 8.68% stake.

Additionally, BlackRock made a major investment in American Electric Power Company, Inc., purchasing 51,024,057 shares valued at approximately $6.98 billion during the second quarter. This move gives the firm a 9.37% ownership stake in the utility provider.