ONEOK, Inc. $OKE Shares Sold by Ascent Group LLC

Ascent Group LLC reduced its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 12.6% during the 2nd quarter, HoldingsChannel reports. The firm owned 3,914 shares of the utilities provider’s stock after selling 563 shares during the period. Ascent Group LLC’s holdings in ONEOK were worth $319,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Dark Forest Capital Management LP raised its stake in ONEOK by 409.5% during the 1st quarter. Dark Forest Capital Management LP now owns 40,372 shares of the utilities provider’s stock valued at $4,006,000 after acquiring an additional 32,448 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund increased its holdings 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 purchasing an additional 10,728 shares during the period. Advisor Resource Council acquired a new position in shares of ONEOK in the first quarter valued at approximately $511,000. Andrew Hill Investment Advisors Inc. acquired a new position in shares of ONEOK in the second quarter valued at approximately $3,671,000. Finally, Banco Santander S.A. increased its holdings in shares of ONEOK by 22.2% in the first quarter. Banco Santander S.A. now owns 26,824 shares of the utilities provider’s stock valued at $2,661,000 after purchasing an additional 4,880 shares during the period. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Stock Performance

Shares of OKE stock opened at $72.42 on Wednesday. The stock has a fifty day moving average price of $74.28 and a 200 day moving average price of $80.59. The stock has a market cap of $45.61 billion, a PE ratio of 14.12, a P/E/G ratio of 1.79 and a beta of 1.01. ONEOK, Inc. has a 1 year low of $70.63 and a 1 year high of $118.07. 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 announced its quarterly earnings results on Monday, August 4th. The utilities provider reported $1.34 earnings per share 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 business had revenue of $8.21 billion during the quarter, compared to analysts’ expectations of $7.20 billion. During the same quarter last year, the business posted $1.33 earnings per share. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. Sell-side analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Announces Dividend

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

Wall Street Analyst Weigh In

OKE has been the subject of several recent analyst reports. Barclays set a $83.00 target price on shares of ONEOK in a research note on Thursday, August 14th. Weiss Ratings reissued a “hold (c+)” rating on shares of ONEOK in a report on Saturday, September 27th. JPMorgan Chase & Co. lifted their price target on ONEOK from $94.00 to $97.00 and gave the company an “overweight” rating in a research note on Thursday, July 3rd. TD Cowen initiated coverage on ONEOK in a report on Monday, July 7th. They issued a “hold” rating and a $91.00 target price for the company. Finally, Raymond James Financial reissued an “outperform” rating on shares of ONEOK in a report on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $99.00.

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.