Ascent Group LLC Lowers Stock Position in ONEOK, Inc. $OKE

Ascent Group LLC lessened its stake in shares of ONEOK, Inc. (NYSE:OKE) by 12.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,914 shares of the utilities provider’s stock after selling 563 shares during the quarter. Ascent Group LLC’s holdings in ONEOK were worth $319,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in OKE. Dark Forest Capital Management LP raised its position in ONEOK by 409.5% in the first quarter. Dark Forest Capital Management LP now owns 40,372 shares of the utilities provider’s stock valued at $4,006,000 after purchasing an additional 32,448 shares during the period. Kentucky Retirement Systems Insurance Trust Fund grew its stake in shares of ONEOK by 146.9% in the first quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 18,033 shares of the utilities provider’s stock valued at $1,789,000 after buying an additional 10,728 shares in the last quarter. Advisor Resource Council purchased a new position in ONEOK during the 1st quarter valued at about $511,000. Andrew Hill Investment Advisors Inc. purchased a new position in ONEOK during the 2nd quarter valued at about $3,671,000. Finally, Banco Santander S.A. boosted its holdings in ONEOK by 22.2% during the 1st quarter. Banco Santander S.A. now owns 26,824 shares of the utilities provider’s stock valued at $2,661,000 after acquiring an additional 4,880 shares during the period. 69.13% of the stock is currently owned by institutional investors and hedge funds.

ONEOK Trading Down 0.4%

OKE opened at $72.42 on Wednesday. ONEOK, Inc. has a one year low of $70.63 and a one year high of $118.07. The company has a market cap of $45.61 billion, a P/E ratio of 14.12, a PEG ratio of 1.79 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 business’s 50-day simple moving average is $74.28 and its 200-day simple moving average is $80.59.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Monday, August 4th. The utilities provider reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $7.20 billion. During the same period in the prior year, the company posted $1.33 earnings per share. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. As a group, equities research analysts expect that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Friday, August 1st were issued a dividend of $1.03 per share. The ex-dividend date of this dividend was Friday, August 1st. This represents a $4.12 annualized dividend and a dividend yield of 5.7%. ONEOK’s dividend payout ratio (DPR) is presently 80.31%.

Wall Street Analyst Weigh In

OKE has been the topic of several research reports. TD Cowen initiated coverage on shares of ONEOK in a research report on Monday, July 7th. They set a “hold” rating and a $91.00 price target on the stock. Raymond James Financial restated an “outperform” rating on shares of ONEOK in a research note on Friday, August 1st. Morgan Stanley dropped their price target on shares of ONEOK from $122.00 to $110.00 and set an “overweight” rating for the company in a research note on Tuesday, August 26th. Mizuho decreased their target price on ONEOK from $87.00 to $82.00 and set a “neutral” rating for the company in a report on Friday, August 29th. Finally, Royal Bank Of Canada decreased their target price on ONEOK from $94.00 to $88.00 and set a “sector perform” rating for the company in a report on Wednesday, August 13th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $99.00.

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.