ONEOK, Inc. $OKE Shares Sold by Eventide Asset Management LLC

Eventide Asset Management LLC decreased its position in ONEOK, Inc. (NYSE:OKE) by 82.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 35,522 shares of the utilities provider’s stock after selling 164,106 shares during the period. Eventide Asset Management LLC’s holdings in ONEOK were worth $3,498,000 as of its most recent SEC filing.

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

ONEOK Trading Up 0.7%

ONEOK stock opened at $74.37 on Friday. The firm has a market cap of $46.83 billion, a price-to-earnings ratio of 14.50, a price-to-earnings-growth ratio of 1.76 and a beta of 1.04. ONEOK, Inc. has a 1 year low of $72.18 and a 1 year high of $118.07. The firm’s 50 day moving average price is $78.25 and its two-hundred day moving average price is $84.39. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.46 and a current ratio of 0.59.

ONEOK (NYSE:OKE) last released its quarterly earnings data on Monday, August 4th. The utilities provider reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.01. The business had revenue of $8.21 billion during the quarter, compared to analyst estimates of $7.20 billion. ONEOK had a return on equity of 14.90% and a net margin of 11.06%.During the same period last year, the company posted $1.33 EPS. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. On average, research analysts predict that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Friday, August 1st were paid a $1.03 dividend. The ex-dividend date of this dividend was Friday, August 1st. This represents a $4.12 dividend on an annualized basis and a yield of 5.5%. ONEOK’s dividend payout ratio (DPR) is currently 80.31%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on OKE shares. Royal Bank Of Canada decreased their target price on shares of ONEOK from $94.00 to $88.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 13th. JPMorgan Chase & Co. increased their price objective on shares of ONEOK from $94.00 to $97.00 and gave the company an “overweight” rating in a report on Thursday, July 3rd. Scotiabank set a $92.00 price objective on shares of ONEOK and gave the company a “sector outperform” rating in a research note on Tuesday, July 15th. Morgan Stanley cut their target price on ONEOK from $122.00 to $110.00 and set an “overweight” rating for the company in a research report on Tuesday, August 26th. Finally, Raymond James Financial reaffirmed an “outperform” rating on shares of ONEOK in a research note on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $100.60.

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.