Aberdeen Group plc Lowers Stake in ONEOK, Inc. $OKE

Key Points

• Aberdeen Group plc significantly reduced its stake in ONEOK, Inc. by 73% in the first quarter, now holding about 0.09% of the company, valued at approximately $55 million.
• Multiple institutional investors have made changes to their holdings in ONEOK, with over 69% of the stock owned by institutional investors and hedge funds.
• ONEOK recently announced a quarterly dividend of $1.03 per share, reflecting an annualized yield of 5.6% and a payout ratio of 80.31%.

Aberdeen Group plc lowered its position in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 73.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 557,666 shares of the utilities provider's stock after selling 1,510,553 shares during the period. Aberdeen Group plc owned about 0.09% of ONEOK worth $55,053,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Marcum Wealth LLC increased its position in ONEOK by 1.1% during the 1st quarter. Marcum Wealth LLC now owns 10,250 shares of the utilities provider's stock valued at $1,017,000 after purchasing an additional 108 shares during the period. West Paces Advisors Inc. increased its holdings in ONEOK by 4.7% during the fourth quarter. West Paces Advisors Inc. now owns 2,527 shares of the utilities provider's stock valued at $254,000 after buying an additional 114 shares during the period. Morey & Quinn Wealth Partners LLC increased its holdings in ONEOK by 0.8% during the first quarter. Morey & Quinn Wealth Partners LLC now owns 15,722 shares of the utilities provider's stock valued at $1,560,000 after buying an additional 130 shares during the period. Uniplan Investment Counsel Inc. increased its holdings in ONEOK by 0.3% during the fourth quarter. Uniplan Investment Counsel Inc. now owns 50,970 shares of the utilities provider's stock valued at $5,117,000 after buying an additional 132 shares during the period. Finally, Visionary Wealth Advisors increased its holdings in ONEOK by 2.1% during the fourth quarter. Visionary Wealth Advisors now owns 6,320 shares of the utilities provider's stock valued at $635,000 after buying an additional 132 shares during the period. 69.13% of the stock is owned by hedge funds and other institutional investors.

ONEOK Stock Performance

ONEOK stock traded up $0.3690 during trading hours on Tuesday, hitting $73.4090. 2,382,585 shares of the stock traded hands, compared to its average volume of 3,955,031. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.59 and a quick ratio of 0.46. The firm's 50 day moving average price is $80.04 and its 200-day moving average price is $86.29. The stock has a market capitalization of $46.23 billion, a price-to-earnings ratio of 14.31, a P/E/G ratio of 1.75 and a beta of 0.99. ONEOK, Inc. has a 1 year low of $72.18 and a 1 year high of $118.07.

ONEOK (NYSE:OKE - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The utilities provider reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.01. The business had revenue of $8.21 billion for the quarter, compared to the consensus estimate of $7.20 billion. ONEOK had a return on equity of 14.90% and a net margin of 11.06%.During the same quarter in the previous year, the business earned $1.33 EPS. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. As a group, equities analysts expect that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Friday, August 1st were paid a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 5.6%. The ex-dividend date was Friday, August 1st. ONEOK's payout ratio is presently 80.31%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on OKE shares. Raymond James Financial reissued an "outperform" rating on shares of ONEOK in a report on Friday, August 1st. Barclays set a $83.00 price target on ONEOK in a research report on Thursday, August 14th. Citigroup reduced their price target on ONEOK from $110.00 to $102.00 and set a "buy" rating for the company in a research report on Tuesday, May 6th. Stifel Nicolaus reduced their price target on ONEOK from $110.00 to $107.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Finally, TD Cowen initiated coverage on ONEOK in a research report on Monday, July 7th. They issued a "hold" rating and a $91.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $103.57.

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.