ONEOK, Inc. $OKE Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lowered its holdings in ONEOK, Inc. (NYSE:OKE) by 0.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 181,801 shares of the utilities provider’s stock after selling 993 shares during the period. PNC Financial Services Group Inc.’s holdings in ONEOK were worth $14,840,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Bogart Wealth LLC increased its holdings in shares of ONEOK by 3.1% in the second quarter. Bogart Wealth LLC now owns 4,031 shares of the utilities provider’s stock valued at $329,000 after buying an additional 122 shares in the last quarter. Presima Securities ULC raised its position in shares of ONEOK by 1.4% during the first quarter. Presima Securities ULC now owns 9,477 shares of the utilities provider’s stock worth $940,000 after purchasing an additional 127 shares during the period. Clearstead Trust LLC boosted its position in shares of ONEOK by 5.0% in the 1st quarter. Clearstead Trust LLC now owns 2,792 shares of the utilities provider’s stock valued at $277,000 after purchasing an additional 133 shares during the period. Empowered Funds LLC increased its stake in ONEOK by 0.8% in the 1st quarter. Empowered Funds LLC now owns 17,957 shares of the utilities provider’s stock worth $1,782,000 after purchasing an additional 137 shares in the last quarter. Finally, MJT & Associates Financial Advisory Group Inc. lifted its stake in ONEOK by 5.8% during the second quarter. MJT & Associates Financial Advisory Group Inc. now owns 2,540 shares of the utilities provider’s stock valued at $207,000 after buying an additional 140 shares in the last quarter. 69.13% of the stock is owned by institutional investors and hedge funds.

ONEOK Trading Up 1.6%

Shares of NYSE OKE opened at $70.55 on Friday. The business has a 50 day simple moving average of $70.39 and a 200 day simple moving average of $76.67. ONEOK, Inc. has a 52 week low of $64.02 and a 52 week high of $118.07. The stock has a market cap of $44.39 billion, a price-to-earnings ratio of 12.97, a PEG ratio of 2.62 and a beta of 1.05. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.46 and a current ratio of 0.90.

ONEOK (NYSE:OKE) last posted its earnings results on Tuesday, October 28th. The utilities provider reported $1.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.48 by $0.01. The firm had revenue of $8.63 billion during the quarter, compared to analysts’ expectations of $8.23 billion. ONEOK had a net margin of 10.58% and a return on equity of 15.12%. During the same period in the previous year, the company earned $1.18 earnings per share. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. On average, research analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Monday, November 3rd were given a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 5.8%. The ex-dividend date of this dividend was Monday, November 3rd. ONEOK’s dividend payout ratio is presently 75.74%.

Insider Buying and Selling at ONEOK

In related news, Director Brian L. Derksen purchased 2,500 shares of ONEOK stock in a transaction on Monday, November 3rd. The stock was bought at an average price of $66.00 per share, with a total value of $165,000.00. Following the completion of the transaction, the director directly owned 21,200 shares of the company’s stock, valued at approximately $1,399,200. This represents a 13.37% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.21% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on OKE shares. Morgan Stanley dropped their target price on shares of ONEOK from $122.00 to $110.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 26th. TD Cowen decreased their target price on ONEOK from $78.00 to $76.00 and set a “hold” rating for the company in a research report on Thursday, October 30th. Raymond James Financial reissued an “outperform” rating and issued a $82.00 price objective (down from $100.00) on shares of ONEOK in a research note on Friday, October 24th. Barclays lowered their target price on ONEOK from $83.00 to $78.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 9th. Finally, Scotiabank reduced their price target on shares of ONEOK from $88.00 to $87.00 and set a “sector outperform” rating for the company in a research report on Tuesday, November 4th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, ONEOK currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.27.

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.