Ameritas Advisory Services LLC Lowers Stake in ONEOK, Inc. $OKE

Key Points

• Ameritas Advisory Services LLC significantly reduced its stake in ONEOK, Inc. by 45.5% during the 2nd quarter, leaving it with 20,738 shares valued at approximately $1.69 million.
• ONEOK recently reported quarterly earnings of $1.34 EPS, exceeding expectations, with revenue hitting $8.21 billion against an estimated $7.20 billion.
• The company declared a quarterly dividend of $1.03 per share, representing an annualized dividend yield of 5.7%.

Ameritas Advisory Services LLC reduced its position in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 45.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,738 shares of the utilities provider's stock after selling 17,302 shares during the quarter. Ameritas Advisory Services LLC's holdings in ONEOK were worth $1,693,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in ONEOK by 7.2% in the 1st quarter. Vanguard Group Inc. now owns 75,196,969 shares of the utilities provider's stock worth $7,461,043,000 after purchasing an additional 5,076,705 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in ONEOK by 13.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 20,957,230 shares of the utilities provider's stock worth $2,079,376,000 after purchasing an additional 2,542,449 shares in the last quarter. Invesco Ltd. lifted its stake in ONEOK by 25.1% in the 1st quarter. Invesco Ltd. now owns 8,339,939 shares of the utilities provider's stock worth $827,489,000 after purchasing an additional 1,674,706 shares in the last quarter. Tortoise Capital Advisors L.L.C. lifted its stake in ONEOK by 17.1% in the 1st quarter. Tortoise Capital Advisors L.L.C. now owns 7,171,795 shares of the utilities provider's stock worth $711,586,000 after purchasing an additional 1,047,810 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in ONEOK by 5.3% in the 1st quarter. Northern Trust Corp now owns 6,879,863 shares of the utilities provider's stock worth $682,620,000 after purchasing an additional 344,002 shares in the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

ONEOK Stock Performance

NYSE:OKE opened at $72.88 on Friday. The company has a fifty day simple moving average of $74.69 and a two-hundred day simple moving average of $81.10. The company has a market cap of $45.89 billion, a price-to-earnings ratio of 14.21, a price-to-earnings-growth ratio of 1.78 and a beta of 1.01. The company has a quick ratio of 0.46, a current ratio of 0.59 and a debt-to-equity ratio of 1.35. ONEOK, Inc. has a 52 week low of $70.63 and a 52 week high of $118.07.

ONEOK (NYSE:OKE - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The utilities provider reported $1.34 earnings per share (EPS) 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 analysts' expectations of $7.20 billion. ONEOK had a net margin of 11.06% and a return on equity of 14.90%. During the same period in the previous year, the company earned $1.33 EPS. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. As a group, equities analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Friday, August 1st were paid a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date was Friday, August 1st. ONEOK's payout ratio is 80.31%.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. raised their target price on shares of ONEOK from $94.00 to $97.00 and gave the stock an "overweight" rating in a research note on Thursday, July 3rd. Barclays set a $83.00 price target on shares of ONEOK in a report on Thursday, August 14th. Mizuho cut their price target on shares of ONEOK from $87.00 to $82.00 and set a "neutral" rating for the company in a report on Friday, August 29th. The Goldman Sachs Group initiated coverage on shares of ONEOK in a report on Tuesday. They set a "neutral" rating and a $75.00 price target for the company. Finally, Raymond James Financial restated 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 given a Hold rating to the company. According to data from MarketBeat, ONEOK currently has a consensus 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.

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