Fort Washington Investment Advisors Inc. OH Sells 13,580 Shares of ONEOK, Inc. $OKE

Key Points

• Fort Washington Investment Advisors Inc. OH reduced its stake in ONEOK, Inc. by 23.4%, selling 13,580 shares, and now holds 44,473 shares valued at approximately $3.63 million.
• Other institutional investors also altered their positions, with Advisors Management Group Inc. ADV increasing their stake by 732.8% to 72,127 shares, worth $5.89 million.
• ONEOK reported $1.34 earnings per share for the last quarter, exceeding analyst estimates of $1.33, and announced a quarterly dividend of $1.03 per share, representing a yield of 5.6%.

Fort Washington Investment Advisors Inc. OH trimmed its holdings in ONEOK, Inc. (NYSE:OKE - Free Report) by 23.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,473 shares of the utilities provider's stock after selling 13,580 shares during the period. Fort Washington Investment Advisors Inc. OH's holdings in ONEOK were worth $3,630,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Advisors Management Group Inc. ADV lifted its position in shares of ONEOK by 732.8% during the 2nd quarter. Advisors Management Group Inc. ADV now owns 72,127 shares of the utilities provider's stock valued at $5,888,000 after acquiring an additional 63,466 shares during the period. Twelve Points Wealth Management LLC raised its stake in ONEOK by 18.1% in the second quarter. Twelve Points Wealth Management LLC now owns 35,497 shares of the utilities provider's stock valued at $2,898,000 after purchasing an additional 5,452 shares in the last quarter. Ipswich Investment Management Co. Inc. lifted its position in ONEOK by 9.0% during the second quarter. Ipswich Investment Management Co. Inc. now owns 66,345 shares of the utilities provider's stock worth $5,416,000 after purchasing an additional 5,455 shares during the period. Patton Fund Management Inc. acquired a new stake in ONEOK during the second quarter worth about $208,000. Finally, ST Germain D J Co. Inc. grew its stake in ONEOK by 25.6% during the second quarter. ST Germain D J Co. Inc. now owns 3,766 shares of the utilities provider's stock worth $307,000 after buying an additional 767 shares in the last quarter. Institutional investors and hedge funds own 69.13% of the company's stock.

ONEOK Stock Performance

Shares of OKE opened at $73.86 on Monday. 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 firm's fifty day simple moving average is $75.53 and its two-hundred day simple moving average is $81.74. ONEOK, Inc. has a 12 month low of $70.63 and a 12 month high of $118.07. The stock has a market capitalization of $46.51 billion, a P/E ratio of 14.40, a price-to-earnings-growth ratio of 1.81 and a beta of 1.04.

ONEOK (NYSE:OKE - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The utilities provider reported $1.34 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $7.20 billion. During the same period 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, analysts predict that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Friday, August 1st were given a dividend of $1.03 per share. The ex-dividend date of this dividend was Friday, August 1st. This represents a $4.12 annualized dividend and a dividend yield of 5.6%. ONEOK's dividend payout ratio (DPR) is 80.31%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on OKE. Morgan Stanley decreased 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. Mizuho decreased their price target on ONEOK from $87.00 to $82.00 and set a "neutral" rating on the stock in a research note on Friday, August 29th. Royal Bank Of Canada dropped their price objective on ONEOK from $94.00 to $88.00 and set a "sector perform" rating for the company in a research report on Wednesday, August 13th. Barclays set a $83.00 price objective on ONEOK in a research note on Thursday, August 14th. Finally, JPMorgan Chase & Co. lifted their target price on ONEOK from $94.00 to $97.00 and gave the company an "overweight" rating in a research report on Thursday, July 3rd. One equities 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. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $100.60.

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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