GKV Capital Management Co. Inc. Sells 4,420 Shares of ONEOK, Inc. $OKE

Key Points

• GKV Capital Management Co. Inc. reduced its stake in ONEOK, Inc. by 8.2%, selling 4,420 shares and holding 49,186 shares valued at approximately $4.88 million, marking ONEOK as its 16th largest holding.
• ONEOK reported a quarterly revenue of $8.21 billion with earnings per share of $1.34, surpassing analysts' expectations and indicating strong performance in the last quarter.
• The company announced a quarterly dividend of $1.03 per share, reflecting a 5.4% yield and a payout ratio of 80.31%, emphasizing its commitment to returning value to stockholders.

GKV Capital Management Co. Inc. lessened its position in ONEOK, Inc. (NYSE:OKE - Free Report) by 8.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 49,186 shares of the utilities provider's stock after selling 4,420 shares during the quarter. ONEOK accounts for approximately 1.6% of GKV Capital Management Co. Inc.'s portfolio, making the stock its 16th largest holding. GKV Capital Management Co. Inc.'s holdings in ONEOK were worth $4,880,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Lansforsakringar Fondforvaltning AB publ increased its stake in ONEOK by 2.9% in the first quarter. Lansforsakringar Fondforvaltning AB publ now owns 195,466 shares of the utilities provider's stock valued at $19,394,000 after acquiring an additional 5,429 shares during the last quarter. Northstar Financial Companies Inc. increased its stake in ONEOK by 10.9% in the first quarter. Northstar Financial Companies Inc. now owns 6,606 shares of the utilities provider's stock valued at $655,000 after acquiring an additional 651 shares during the last quarter. Wealth Preservation Advisors LLC bought a new position in ONEOK in the first quarter valued at $101,000. B. Metzler seel. Sohn & Co. AG increased its stake in ONEOK by 8.2% in the first quarter. B. Metzler seel. Sohn & Co. AG now owns 84,899 shares of the utilities provider's stock valued at $8,423,000 after acquiring an additional 6,443 shares during the last quarter. Finally, CreativeOne Wealth LLC increased its stake in ONEOK by 4.2% in the first quarter. CreativeOne Wealth LLC now owns 18,879 shares of the utilities provider's stock valued at $1,873,000 after acquiring an additional 761 shares during the last quarter. Institutional investors own 69.13% of the company's stock.

ONEOK Stock Performance

ONEOK stock opened at $75.91 on Friday. 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 has a 50-day moving average of $78.82 and a 200-day moving average of $85.19. The firm has a market cap of $47.80 billion, a P/E ratio of 14.80, a P/E/G ratio of 1.78 and a beta of 0.99. ONEOK, Inc. has a 1-year low of $72.18 and a 1-year high of $118.07.

ONEOK (NYSE:OKE - Get Free Report) last posted its earnings results on Monday, August 4th. The utilities provider reported $1.34 earnings per share for the quarter, topping analysts' consensus estimates of $1.33 by $0.01. The company had revenue of $8.21 billion during the quarter, compared to analyst estimates of $7.20 billion. ONEOK had a net margin of 11.06% and a return on equity of 14.90%. 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. Sell-side analysts expect that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Friday, August 1st were issued a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 5.4%. The ex-dividend date was Friday, August 1st. ONEOK's dividend payout ratio is currently 80.31%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Royal Bank Of Canada reduced their price objective on ONEOK from $94.00 to $88.00 and set a "sector perform" rating on the stock in a research note on Wednesday, August 13th. Morgan Stanley reduced their price objective on ONEOK from $122.00 to $110.00 and set an "overweight" rating on the stock in a research note on Tuesday. JPMorgan Chase & Co. raised their price objective on ONEOK from $94.00 to $97.00 and gave the company an "overweight" rating in a research note on Thursday, July 3rd. 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. Finally, TD Cowen assumed coverage on ONEOK in a research note on Monday, July 7th. They set a "hold" rating and a $91.00 price objective on the stock. One investment 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's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $101.93.

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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