Jones Financial Companies Lllp Reduces Stake in ONEOK, Inc. $OKE

Key Points

• Jones Financial Companies Lllp significantly reduced its stake in ONEOK, Inc., decreasing ownership by 64.6% with 90,655 shares remaining after selling 165,779 shares in the first quarter.
• ONEOK reported an earnings per share (EPS) of $1.34 for the quarter, exceeding the consensus estimate of $1.33 and driving a revenue of $8.21 billion, surpassing the $7.20 billion estimate.
• The company declared a quarterly dividend of $1.03, resulting in an annualized dividend yield of 5.8% with a payout ratio currently at 80.31%.

Jones Financial Companies Lllp lowered its stake in ONEOK, Inc. (NYSE:OKE - Free Report) by 64.6% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 90,655 shares of the utilities provider's stock after selling 165,779 shares during the period. Jones Financial Companies Lllp's holdings in ONEOK were worth $8,762,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. First Pacific Financial purchased a new stake in shares of ONEOK in the 1st quarter worth approximately $34,000. Vermillion Wealth Management Inc. purchased a new stake in shares of ONEOK in the 4th quarter worth approximately $37,000. Financial Network Wealth Advisors LLC grew its stake in shares of ONEOK by 2,466.7% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 385 shares of the utilities provider's stock worth $38,000 after buying an additional 370 shares during the last quarter. MorganRosel Wealth Management LLC purchased a new stake in ONEOK during the 1st quarter valued at $39,000. Finally, Financial Gravity Asset Management Inc. purchased a new stake in ONEOK during the 1st quarter valued at $40,000. Hedge funds and other institutional investors own 69.13% of the company's stock.

Analyst Ratings Changes

Several analysts have commented on the company. Barclays set a $83.00 target price on ONEOK in a research note on Thursday, August 14th. JPMorgan Chase & Co. increased their target price on ONEOK from $94.00 to $97.00 and gave the company an "overweight" rating in a research note on Thursday, July 3rd. Mizuho cut their target price on ONEOK from $87.00 to $82.00 and set a "neutral" rating on the stock in a research note on Friday, August 29th. Raymond James Financial reiterated an "outperform" rating on shares of ONEOK in a research note on Friday, August 1st. Finally, Scotiabank set a $92.00 price target on ONEOK and gave the company a "sector outperform" rating in a report on Tuesday, July 15th. One 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's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $100.60.

ONEOK Stock Performance

ONEOK stock traded down $0.20 during trading on Friday, reaching $73.10. The company had a trading volume of 2,452,189 shares, compared to its average volume of 3,171,176. ONEOK, Inc. has a 52 week low of $70.63 and a 52 week high of $118.07. The firm's 50-day simple moving average is $77.18 and its 200 day simple moving average is $83.34. The firm has a market capitalization of $46.04 billion, a price-to-earnings ratio of 14.25, a price-to-earnings-growth ratio of 1.74 and a beta of 1.04. The company has a current ratio of 0.59, a quick ratio of 0.46 and a debt-to-equity ratio of 1.35.

ONEOK (NYSE:OKE - Get Free Report) last announced its earnings results on Monday, August 4th. The utilities provider reported $1.34 EPS 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 for the quarter, compared to analysts' expectations of $7.20 billion. During the same period last year, the firm earned $1.33 EPS. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. Sell-side analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The company 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 was Friday, August 1st. This represents a $4.12 dividend on an annualized basis and a dividend yield of 5.6%. ONEOK's dividend payout ratio (DPR) is presently 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.