Sumitomo Mitsui Trust Group Inc. Sells 51,863 Shares of ONEOK, Inc. $OKE

Sumitomo Mitsui Trust Group Inc. reduced its holdings in ONEOK, Inc. (NYSE:OKE) by 3.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,499,792 shares of the utilities provider’s stock after selling 51,863 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in ONEOK were worth $122,428,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in shares of ONEOK by 7.2% in the 1st quarter. Vanguard Group Inc. now owns 75,196,969 shares of the utilities provider’s stock worth $7,461,043,000 after purchasing an additional 5,076,705 shares during the last quarter. Nuveen LLC acquired a new position in ONEOK in the first quarter valued at about $440,535,000. Boston Partners acquired a new position in ONEOK in the first quarter valued at about $353,596,000. Charles Schwab Investment Management Inc. boosted its holdings in ONEOK by 13.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 20,957,230 shares of the utilities provider’s stock worth $2,079,376,000 after buying an additional 2,542,449 shares during the last quarter. Finally, Wellington Management Group LLP grew its position in shares of ONEOK by 51.9% during the 1st quarter. Wellington Management Group LLP now owns 6,388,987 shares of the utilities provider’s stock worth $633,915,000 after buying an additional 2,182,081 shares during the period. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Stock Down 1.7%

OKE stock opened at $68.60 on Friday. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.59 and a quick ratio of 0.46. The stock has a market capitalization of $43.20 billion, a P/E ratio of 13.37, a P/E/G ratio of 2.68 and a beta of 1.01. ONEOK, Inc. has a fifty-two week low of $66.56 and a fifty-two week high of $118.07. The business has a 50-day moving average of $72.40 and a 200-day moving average of $78.42.

ONEOK (NYSE:OKE) last released its earnings results on Monday, August 4th. The utilities provider reported $1.34 EPS for the quarter, beating the consensus estimate of $1.33 by $0.01. ONEOK had a return on equity of 14.90% and a net margin of 11.06%.The firm had revenue of $8.21 billion for the quarter, compared to analysts’ expectations of $7.20 billion. During the same quarter in the previous year, the business posted $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 Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Monday, November 3rd will be given a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 6.0%. The ex-dividend date of this dividend is Monday, November 3rd. ONEOK’s payout ratio is currently 80.31%.

Analysts Set New Price Targets

Several research firms recently weighed in on OKE. Royal Bank Of Canada reduced their price objective 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. JPMorgan Chase & Co. increased their target price on shares of ONEOK from $94.00 to $97.00 and gave the stock an “overweight” rating in a report on Thursday, July 3rd. Weiss Ratings restated a “hold (c+)” rating on shares of ONEOK in a research report on Saturday. Raymond James Financial reaffirmed an “outperform” rating and set a $82.00 price objective (down previously from $100.00) on shares of ONEOK in a research note on Friday. Finally, Mizuho decreased their target price on ONEOK from $87.00 to $82.00 and set a “neutral” rating for the company in a research note on Friday, August 29th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have given a Hold 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 $96.40.

ONEOK 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.