IFM Investors Pty Ltd Sells 27,557 Shares of ONEOK, Inc. $OKE

Key Points

• IFM Investors Pty Ltd has reduced its stake in ONEOK, Inc. by 13.3% during the first quarter, selling 27,557 shares and now holding 179,586 shares valued at $17.8 million.
• ONEOK reported a quarterly earnings per share (EPS) of $1.34, slightly surpassing analysts' estimates of $1.33, with a revenue of $8.21 billion that exceeded expectations.
• Recent analyst ratings have seen price targets for ONEOK adjusted downwards, with Morgan Stanley lowering their target from $122.00 to $110.00, while maintaining an "overweight" rating.

IFM Investors Pty Ltd lessened its stake in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 13.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 179,586 shares of the utilities provider's stock after selling 27,557 shares during the quarter. IFM Investors Pty Ltd's holdings in ONEOK were worth $17,819,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in OKE. Vanguard Group Inc. grew its holdings in ONEOK by 7.2% during the 1st 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 in the last quarter. Nuveen LLC purchased a new position in shares of ONEOK during the first quarter worth about $440,535,000. Boston Partners purchased a new position in shares of ONEOK during the first quarter worth about $353,596,000. Charles Schwab Investment Management Inc. grew its holdings in shares of 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 worth $2,079,376,000 after purchasing an additional 2,542,449 shares in the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of ONEOK by 51.9% during the first quarter. Wellington Management Group LLP now owns 6,388,987 shares of the utilities provider's stock worth $633,915,000 after purchasing an additional 2,182,081 shares in the last quarter. Hedge funds and other institutional investors own 69.13% of the company's stock.

ONEOK Price Performance

NYSE:OKE traded down $0.20 during mid-day trading on Friday, reaching $73.10. The stock had a trading volume of 2,452,189 shares, compared to its average volume of 3,171,176. The firm has a 50 day moving average price of $77.18 and a two-hundred day moving average price of $83.34. The stock has a market capitalization of $46.04 billion, a P/E ratio of 14.25, a P/E/G ratio of 1.74 and a beta of 1.04. ONEOK, Inc. has a one year low of $70.63 and a one year high of $118.07. 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 released 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. ONEOK had a return on equity of 14.90% and a net margin of 11.06%.The company had revenue of $8.21 billion during the quarter, compared to the consensus estimate of $7.20 billion. During the same quarter in the previous year, the company posted $1.33 EPS. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. As a group, analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Dividend Announcement

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

Wall Street Analysts Forecast Growth

OKE has been the subject of several recent analyst reports. Mizuho cut their price objective on ONEOK from $87.00 to $82.00 and set a "neutral" rating for the company in a report on Friday, August 29th. Barclays set a $83.00 price objective on ONEOK in a report on Thursday, August 14th. Morgan Stanley cut their price objective on ONEOK from $122.00 to $110.00 and set an "overweight" rating for the company in a report on Tuesday, August 26th. TD Cowen initiated coverage on ONEOK in a report on Monday, July 7th. They set a "hold" rating and a $91.00 price objective for the company. Finally, Raymond James Financial reissued an "outperform" rating on shares of ONEOK in a report on Friday, August 1st. One equities research 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. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target 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.