Renaissance Investment Group LLC Sells 20,372 Shares of ONEOK, Inc. $OKE

Renaissance Investment Group LLC lessened its stake in shares of ONEOK, Inc. (NYSE:OKE) by 37.7% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 33,660 shares of the utilities provider’s stock after selling 20,372 shares during the period. Renaissance Investment Group LLC’s holdings in ONEOK were worth $2,456,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Sanders Morris Harris LLC boosted its position in ONEOK by 54.3% during the third quarter. Sanders Morris Harris LLC now owns 11,615 shares of the utilities provider’s stock worth $848,000 after purchasing an additional 4,086 shares during the period. Thrive Wealth Management LLC bought a new stake in shares of ONEOK during the 3rd quarter worth $249,000. City Center Advisors LLC grew its stake in ONEOK by 12.1% in the 3rd quarter. City Center Advisors LLC now owns 4,104 shares of the utilities provider’s stock valued at $299,000 after buying an additional 444 shares during the last quarter. Summit Financial Wealth Advisors LLC raised its holdings in ONEOK by 4.9% in the 3rd quarter. Summit Financial Wealth Advisors LLC now owns 96,540 shares of the utilities provider’s stock worth $7,046,000 after acquiring an additional 4,489 shares during the period. Finally, Aaron Wealth Advisors LLC lifted its position in ONEOK by 46.6% during the 3rd quarter. Aaron Wealth Advisors LLC now owns 5,709 shares of the utilities provider’s stock worth $417,000 after acquiring an additional 1,816 shares during the last quarter. 69.13% of the stock is owned by institutional investors.

ONEOK Stock Performance

OKE opened at $71.10 on Wednesday. The stock’s 50 day simple moving average is $70.25 and its 200-day simple moving average is $75.00. The company has a current ratio of 0.90, a quick ratio of 0.75 and a debt-to-equity ratio of 1.44. The stock has a market cap of $44.74 billion, a PE ratio of 13.07, a P/E/G ratio of 4.46 and a beta of 0.95. ONEOK, Inc. has a 1 year low of $64.02 and a 1 year high of $111.02.

ONEOK (NYSE:OKE) last issued its earnings results on Tuesday, October 28th. The utilities provider reported $1.49 EPS for the quarter, topping the consensus estimate 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 return on equity of 15.12% and a net margin of 10.58%.During the same period last year, the business earned $1.18 earnings per share. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. Sell-side analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Citigroup lowered their price target on ONEOK from $102.00 to $95.00 and set a “buy” rating on the stock in a research report on Friday, October 31st. Morgan Stanley decreased their target price on ONEOK from $122.00 to $110.00 and set an “overweight” rating for the company in a research note on Tuesday, August 26th. Scotiabank dropped their price target on ONEOK from $88.00 to $87.00 and set a “sector outperform” rating on the stock in a research report on Tuesday, November 4th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $72.00 price target on shares of ONEOK in a research report on Monday, November 3rd. Finally, 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 report on Friday, October 24th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, ONEOK currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.00.

Insider Transactions at ONEOK

In other ONEOK news, Director Brian L. Derksen purchased 2,500 shares of the business’s stock in a transaction on Monday, November 3rd. The stock was purchased at an average price of $66.00 per share, for a total transaction of $165,000.00. Following the completion of the purchase, the director directly owned 21,200 shares in the company, valued at approximately $1,399,200. This trade represents a 13.37% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.20% of the stock is owned by company insiders.

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.