Penbrook Management LLC Sells 325 Shares of ONEOK, Inc. $OKE

Penbrook Management LLC lessened its stake in ONEOK, Inc. (NYSE:OKE) by 2.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,510 shares of the utilities provider’s stock after selling 325 shares during the period. Penbrook Management LLC’s holdings in ONEOK were worth $940,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. First Pacific Financial bought a new stake in ONEOK in the 1st quarter worth approximately $34,000. Financial Network Wealth Advisors LLC boosted its stake in shares of ONEOK by 2,466.7% during the 1st quarter. Financial Network Wealth Advisors LLC now owns 385 shares of the utilities provider’s stock worth $38,000 after acquiring an additional 370 shares during the last quarter. MorganRosel Wealth Management LLC purchased a new position in shares of ONEOK during the 1st quarter worth $39,000. Financial Gravity Asset Management Inc. purchased a new position in shares of ONEOK during the 1st quarter worth $40,000. Finally, Rakuten Securities Inc. boosted its stake in shares of ONEOK by 152.1% during the 1st quarter. Rakuten Securities Inc. now owns 421 shares of the utilities provider’s stock worth $42,000 after acquiring an additional 254 shares during the last quarter. Institutional investors own 69.13% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on OKE shares. JPMorgan Chase & Co. lifted their price target on shares of ONEOK from $94.00 to $97.00 and gave the stock an “overweight” rating in a research note on Thursday, July 3rd. TD Cowen started coverage on shares of ONEOK in a research note on Monday, July 7th. They set a “hold” rating and a $91.00 price target on the stock. Raymond James Financial reiterated an “outperform” rating on shares of ONEOK in a research note on Friday, August 1st. Royal Bank Of Canada dropped their price target on shares of ONEOK from $94.00 to $88.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 13th. Finally, The Goldman Sachs Group assumed coverage on shares of ONEOK in a report on Tuesday, September 30th. They issued a “neutral” rating and a $75.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, ONEOK currently has a consensus rating of “Moderate Buy” and a consensus price target of $98.69.

ONEOK Trading Up 0.7%

Shares of ONEOK stock opened at $69.60 on Tuesday. The company has a market capitalization of $43.83 billion, a P/E ratio of 13.57, a P/E/G ratio of 1.69 and a beta of 1.01. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.46 and a current ratio of 0.59. The company has a fifty day moving average of $73.47 and a 200 day moving average of $79.61. ONEOK, Inc. has a fifty-two week low of $69.05 and a fifty-two week high of $118.07.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Monday, August 4th. The utilities provider reported $1.34 EPS for the quarter, topping the consensus estimate of $1.33 by $0.01. The business had revenue of $8.21 billion for the quarter, compared to analysts’ expectations of $7.20 billion. ONEOK had a net margin of 11.06% and a return on equity of 14.90%. During the same quarter in the previous year, the company earned $1.33 EPS. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. On average, sell-side analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Friday, August 1st were paid a $1.03 dividend. The ex-dividend date was Friday, August 1st. This represents a $4.12 annualized dividend and a yield of 5.9%. ONEOK’s payout ratio is presently 80.31%.

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.