Fractal Investments LLC Sells 173,533 Shares of ONEOK, Inc. $OKE

Key Points

• Fractal Investments LLC has reduced its stake in ONEOK, Inc. by 40.7%, now holding 252,757 shares, which represents 2.9% of its portfolio and is valued at approximately $20.6 million.
• ONEOK recently reported earnings per share of $1.34 for the quarter, exceeding estimates, with revenues of $8.21 billion, significantly higher than the consensus expectation.
• The company declared a quarterly dividend of $1.03 per share, translating to an annualized yield of 5.6% with a payout ratio of 80.31%.

Fractal Investments LLC cut its position in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 40.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 252,757 shares of the utilities provider's stock after selling 173,533 shares during the period. ONEOK makes up about 2.9% of Fractal Investments LLC's portfolio, making the stock its 12th biggest holding. Fractal Investments LLC's holdings in ONEOK were worth $20,633,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in ONEOK by 7.2% during the first quarter. Vanguard Group Inc. now owns 75,196,969 shares of the utilities provider's stock valued at $7,461,043,000 after buying an additional 5,076,705 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in 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 valued at $2,079,376,000 after buying an additional 2,542,449 shares during the last quarter. Invesco Ltd. boosted its stake in 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 buying an additional 1,674,706 shares during the last quarter. Tortoise Capital Advisors L.L.C. boosted its stake in ONEOK by 17.1% during 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 buying an additional 1,047,810 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in ONEOK by 5.3% during the first quarter. Northern Trust Corp now owns 6,879,863 shares of the utilities provider's stock valued at $682,620,000 after buying an additional 344,002 shares during the last quarter. 69.13% of the stock is owned by institutional investors.

ONEOK Price Performance

NYSE:OKE opened at $73.10 on Friday. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.59 and a quick ratio of 0.46. The business has a 50 day simple moving average of $77.18 and a 200-day simple moving average of $83.26. ONEOK, Inc. has a 1 year low of $70.63 and a 1 year high of $118.07. The firm has a market capitalization of $46.04 billion, a price-to-earnings ratio of 14.25, a PEG ratio of 1.74 and a beta of 1.04.

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

ONEOK Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on OKE shares. TD Cowen started coverage on ONEOK in a research note on Monday, July 7th. They set a "hold" rating and a $91.00 price target for the company. Barclays set a $83.00 price objective on ONEOK in a research report on Thursday, August 14th. Mizuho lowered their price objective on ONEOK from $87.00 to $82.00 and set a "neutral" rating for the company in a research note on Friday, August 29th. Morgan Stanley lowered their price objective on ONEOK from $122.00 to $110.00 and set an "overweight" rating for the company in a research note on Tuesday, August 26th. Finally, Scotiabank set a $92.00 price objective on ONEOK and gave the company a "sector outperform" rating in a research note on Tuesday, July 15th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company 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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