Erste Asset Management GmbH Lowers Stake in ONEOK, Inc. $OKE

Key Points

• Erste Asset Management GmbH has reduced its stake in ONEOK, Inc. by 13.3%, selling over 17,000 shares and holding 112,649 shares valued at $11.1 million.
• ONEOK reported earnings of $1.34 EPS for the latest quarter, exceeding estimates and achieving revenues of $8.21 billion, compared to an expected $7.20 billion.
• The company declared a quarterly dividend of $1.03, resulting in a 5.6% dividend yield and a payout ratio of 80.31%.

Erste Asset Management GmbH lessened its stake in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 13.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 112,649 shares of the utilities provider's stock after selling 17,307 shares during the period. Erste Asset Management GmbH's holdings in ONEOK were worth $11,114,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Greenline Partners LLC purchased a new stake in ONEOK during the fourth quarter worth about $32,000. First Pacific Financial purchased a new position in shares of ONEOK in the first quarter worth about $34,000. Vermillion Wealth Management Inc. purchased a new position in shares of ONEOK in the fourth quarter worth about $37,000. Financial Network Wealth Advisors LLC increased its stake in shares of ONEOK by 2,466.7% in the first quarter. Financial Network Wealth Advisors LLC now owns 385 shares of the utilities provider's stock worth $38,000 after purchasing an additional 370 shares in the last quarter. Finally, Marshall & Sterling Wealth Advisors Inc. purchased a new position in shares of ONEOK in the fourth quarter worth about $39,000. Hedge funds and other institutional investors own 69.13% of the company's stock.

ONEOK Price Performance

Shares of OKE stock traded up $0.7230 during trading hours on Friday, reaching $74.7430. The stock had a trading volume of 2,382,272 shares, compared to its average volume of 3,622,767. The stock's fifty day simple moving average is $79.34 and its 200 day simple moving average is $85.71. The company has a current ratio of 0.59, a quick ratio of 0.46 and a debt-to-equity ratio of 1.35. ONEOK, Inc. has a 12 month low of $72.18 and a 12 month high of $118.07. The firm has a market capitalization of $47.07 billion, a PE ratio of 14.57, a PEG ratio of 1.77 and a beta of 0.99.

ONEOK (NYSE:OKE - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The utilities provider reported $1.34 EPS for the quarter, beating analysts' consensus estimates of $1.33 by $0.01. ONEOK had a net margin of 11.06% and a return on equity of 14.90%. The company had revenue of $8.21 billion during the quarter, compared to analyst estimates of $7.20 billion. During the same period last year, the business earned $1.33 earnings per share. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. On average, equities research analysts predict that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Friday, August 1st were given a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date was Friday, August 1st. ONEOK's dividend payout ratio (DPR) is 80.31%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on OKE shares. Royal Bank Of Canada reduced their target price on shares of ONEOK from $94.00 to $88.00 and set a "sector perform" rating for the company in a research note on Wednesday, August 13th. Raymond James Financial reiterated an "outperform" rating on shares of ONEOK in a research note on Friday, August 1st. Citigroup reduced their target price on shares of ONEOK from $110.00 to $102.00 and set a "buy" rating for the company in a research note on Tuesday, May 6th. Barclays set a $83.00 target price on shares of ONEOK in a research note on Thursday, August 14th. Finally, Scotiabank set a $92.00 target price on shares of ONEOK and gave the stock a "sector outperform" rating in a research note on Tuesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $103.57.

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.