Generali Asset Management SPA SGR Sells 15,257 Shares of ONEOK, Inc. $OKE

Key Points

• Generali Asset Management SPA SGR reduced its holdings in ONEOK, Inc. by 18.9% after selling 15,257 shares, now owning 65,289 shares valued at $5,330,000.
• Several institutional investors, such as Disciplined Equity Management Inc. and TD Asset Management Inc., increased their stakes in ONEOK, highlighting interest from institutional players.
• ONEOK has declared a quarterly dividend of $1.03 per share, reflecting an annualized dividend of $4.12 with a yield of 6.0%, set to be paid on November 14th.

Generali Asset Management SPA SGR lowered its stake in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 18.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 65,289 shares of the utilities provider's stock after selling 15,257 shares during the period. Generali Asset Management SPA SGR's holdings in ONEOK were worth $5,330,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Disciplined Equity Management Inc. boosted its holdings in ONEOK by 20.5% during the second quarter. Disciplined Equity Management Inc. now owns 14,475 shares of the utilities provider's stock worth $1,182,000 after buying an additional 2,460 shares during the last quarter. Mitchell Mcleod Pugh & Williams Inc. raised its position in shares of ONEOK by 5.6% during the second quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 9,042 shares of the utilities provider's stock worth $738,000 after purchasing an additional 480 shares during the period. TD Asset Management Inc lifted its holdings in shares of ONEOK by 7.5% during the 2nd quarter. TD Asset Management Inc now owns 263,780 shares of the utilities provider's stock valued at $21,532,000 after purchasing an additional 18,511 shares in the last quarter. Wilmington Savings Fund Society FSB lifted its holdings in shares of ONEOK by 16.2% during the 2nd quarter. Wilmington Savings Fund Society FSB now owns 16,444 shares of the utilities provider's stock valued at $1,342,000 after purchasing an additional 2,289 shares in the last quarter. Finally, Morningstar Investment Management LLC lifted its holdings in shares of ONEOK by 18.2% during the 2nd quarter. Morningstar Investment Management LLC now owns 27,375 shares of the utilities provider's stock valued at $2,235,000 after purchasing an additional 4,206 shares in the last quarter. Institutional investors own 69.13% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on OKE shares. Morgan Stanley cut their price objective on ONEOK from $122.00 to $110.00 and set an "overweight" rating on the stock in a report on Tuesday, August 26th. TD Cowen started coverage on ONEOK in a report on Monday, July 7th. They set a "hold" rating and a $91.00 price objective on the stock. Barclays cut their price objective on ONEOK from $83.00 to $78.00 and set an "equal weight" rating on the stock in a report on Thursday, October 9th. Weiss Ratings reiterated a "hold (c+)" rating on shares of ONEOK in a report on Wednesday, October 8th. Finally, Mizuho cut their price objective on ONEOK from $87.00 to $82.00 and set a "neutral" rating on the stock in a report on Friday, August 29th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $98.69.

ONEOK Stock Down 1.0%

Shares of ONEOK stock opened at $68.89 on Thursday. The business's 50 day simple moving average is $73.21 and its 200 day simple moving average is $79.46. ONEOK, Inc. has a 52-week low of $68.25 and a 52-week high of $118.07. The firm has a market cap of $43.38 billion, a PE ratio of 13.43, a P/E/G ratio of 1.70 and a beta of 1.01. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.46 and a current ratio of 0.59.

ONEOK (NYSE:OKE - Get Free Report) last announced its earnings results 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 business 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 earned $1.33 EPS. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. On average, analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Monday, November 3rd will be given a dividend of $1.03 per share. The ex-dividend date of this dividend is Monday, November 3rd. This represents a $4.12 annualized dividend and a dividend yield of 6.0%. ONEOK's payout ratio is 80.31%.

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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