Dakota Wealth Management Sells 12,526 Shares of ONEOK, Inc. $OKE

Key Points

• Dakota Wealth Management has significantly reduced its stake in ONEOK, Inc. by 52.6%, now holding 11,285 shares worth approximately $921,000 after selling 12,526 shares.
• ONEOK has reported better-than-expected earnings for the last quarter with an EPS of $1.34, surpassing the estimated $1.33, and has projected a FY 2025 EPS guidance of $5.370.
• The company has declared a quarterly dividend of $1.03, reflecting a 5.6% yield and an annualized dividend of $4.12, with a payout ratio of 80.31%.

Dakota Wealth Management lowered its holdings in ONEOK, Inc. (NYSE:OKE - Free Report) by 52.6% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,285 shares of the utilities provider's stock after selling 12,526 shares during the period. Dakota Wealth Management's holdings in ONEOK were worth $921,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in shares of ONEOK by 7.2% during the 1st quarter. Vanguard Group Inc. now owns 75,196,969 shares of the utilities provider's stock worth $7,461,043,000 after acquiring an additional 5,076,705 shares during the period. Nuveen LLC bought a new stake in shares of ONEOK during the 1st quarter worth approximately $440,535,000. Boston Partners bought a new stake in shares of ONEOK during the 1st quarter worth approximately $353,596,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of ONEOK by 13.8% during 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 acquiring an additional 2,542,449 shares during the period. Finally, Wellington Management Group LLP lifted its holdings in shares of ONEOK by 51.9% during the 1st quarter. Wellington Management Group LLP now owns 6,388,987 shares of the utilities provider's stock worth $633,915,000 after acquiring an additional 2,182,081 shares during the period. Institutional investors own 69.13% of the company's stock.

ONEOK Price Performance

OKE stock opened at $73.86 on Friday. The company has a 50 day simple moving average of $75.53 and a 200 day simple moving average of $81.82. The stock has a market cap of $46.51 billion, a price-to-earnings ratio of 14.40, a P/E/G ratio of 1.81 and a beta of 1.04. ONEOK, Inc. has a 1 year low of $70.63 and a 1 year high of $118.07. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.59 and a quick ratio of 0.46.

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

ONEOK Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. 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. Barclays set a $83.00 price target on shares of ONEOK in a report on Thursday, August 14th. JPMorgan Chase & Co. upped their price target on shares of ONEOK from $94.00 to $97.00 and gave the stock an "overweight" rating in a report on Thursday, July 3rd. Royal Bank Of Canada lowered their price objective on shares of ONEOK from $94.00 to $88.00 and set a "sector perform" rating for the company in a research report on Wednesday, August 13th. Finally, Raymond James Financial reiterated an "outperform" rating on shares of ONEOK in a research report on Friday, August 1st. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $100.60.

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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