Capital Management Corp VA Sells 4,330 Shares of ONEOK, Inc. $OKE

Key Points

• Capital Management Corp VA decreased its holdings in ONEOK, Inc. by 2.7%, selling 4,330 shares, and now owns 153,432 shares valued at approximately $12.5 million.
• Multiple institutional investors, including Vanguard Group and Charles Schwab Investment Management, have increased their stakes in ONEOK, indicating strong investor interest in the company.
• ONEOK reported earnings of $1.34 EPS for the latest quarter, surpassing expectations, with forecasted EPS for FY 2025 set at $5.37.

Capital Management Corp VA lessened its holdings in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 2.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 153,432 shares of the utilities provider's stock after selling 4,330 shares during the period. ONEOK accounts for about 2.1% of Capital Management Corp VA's portfolio, making the stock its 20th largest position. Capital Management Corp VA's holdings in ONEOK were worth $12,525,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position 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 during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of ONEOK by 13.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 20,957,230 shares of the utilities provider's stock worth $2,079,376,000 after acquiring an additional 2,542,449 shares during the last quarter. Invesco Ltd. lifted its stake in shares of ONEOK by 25.1% during the first quarter. Invesco Ltd. now owns 8,339,939 shares of the utilities provider's stock valued at $827,489,000 after acquiring an additional 1,674,706 shares during the period. Tortoise Capital Advisors L.L.C. boosted its holdings in ONEOK by 17.1% in the first quarter. Tortoise Capital Advisors L.L.C. now owns 7,171,795 shares of the utilities provider's stock valued at $711,586,000 after acquiring an additional 1,047,810 shares during the last quarter. Finally, Northern Trust Corp increased its position in ONEOK by 5.3% in the first 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 during the period. Institutional investors own 69.13% of the company's stock.

ONEOK Stock Performance

Shares of ONEOK stock opened at $69.59 on Wednesday. The stock's fifty day simple moving average is $73.34 and its 200 day simple moving average is $79.54. The company has a current ratio of 0.59, a quick ratio of 0.46 and a debt-to-equity ratio of 1.35. The company has a market capitalization of $43.82 billion, a PE ratio of 13.56, a PEG ratio of 1.70 and a beta of 1.01. ONEOK, Inc. has a 12 month low of $68.25 and a 12 month high of $118.07.

ONEOK (NYSE:OKE - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The utilities provider reported $1.34 EPS for the quarter, topping 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 company had revenue of $8.21 billion for the quarter, compared to analyst estimates of $7.20 billion. During the same quarter last year, the firm posted $1.33 earnings per share. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. On average, research analysts predict that ONEOK, Inc. will post 5.07 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on OKE. TD Cowen assumed coverage on shares of ONEOK in a research report on Monday, July 7th. They set a "hold" rating and a $91.00 target price on the stock. Scotiabank set a $92.00 price objective on shares of ONEOK and gave the company a "sector outperform" rating in a report on Tuesday, July 15th. Morgan Stanley reduced their price objective on shares of ONEOK from $122.00 to $110.00 and set an "overweight" rating on the stock in a research note on Tuesday, August 26th. JPMorgan Chase & Co. upped their target price on shares of ONEOK from $94.00 to $97.00 and gave the company an "overweight" rating in a research report on Thursday, July 3rd. Finally, Weiss Ratings restated a "hold (c+)" rating on shares of ONEOK in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have assigned a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $98.69.

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.

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