ONEOK, Inc. $OKE Shares Sold by Kestra Advisory Services LLC

Key Points

• Kestra Advisory Services LLC reduced its holdings in ONEOK, Inc. by 11.4%, selling 15,457 shares to end the quarter with 119,701 shares valued at approximately $11.88 million.
• ONEOK reported $1.34 earnings per share for the latest quarter, slightly beating estimates, with a revenue of $8.21 billion surpassing expectations of $7.20 billion.
• The company announced a quarterly dividend of $1.03 per share, representing a dividend yield of 5.5% and maintaining a payout ratio of 80.31%.

Kestra Advisory Services LLC decreased its stake in ONEOK, Inc. (NYSE:OKE - Free Report) by 11.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 119,701 shares of the utilities provider's stock after selling 15,457 shares during the quarter. Kestra Advisory Services LLC's holdings in ONEOK were worth $11,877,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Tortoise Capital Advisors L.L.C. boosted its holdings in ONEOK by 17.1% in the 1st quarter. Tortoise Capital Advisors L.L.C. now owns 7,171,795 shares of the utilities provider's stock worth $711,586,000 after buying an additional 1,047,810 shares during the last quarter. 1832 Asset Management L.P. boosted its stake in shares of ONEOK by 28.7% in the first quarter. 1832 Asset Management L.P. now owns 22,294 shares of the utilities provider's stock worth $2,212,000 after acquiring an additional 4,969 shares during the last quarter. Compound Planning Inc. increased its position in shares of ONEOK by 6.2% during the first quarter. Compound Planning Inc. now owns 12,147 shares of the utilities provider's stock worth $1,205,000 after purchasing an additional 709 shares in the last quarter. Norinchukin Bank The raised its stake in ONEOK by 21.3% in the 1st quarter. Norinchukin Bank The now owns 33,730 shares of the utilities provider's stock valued at $3,347,000 after purchasing an additional 5,921 shares during the last quarter. Finally, CW Advisors LLC lifted its holdings in ONEOK by 47.1% in the 1st quarter. CW Advisors LLC now owns 12,301 shares of the utilities provider's stock valued at $1,221,000 after purchasing an additional 3,936 shares in the last quarter. Hedge funds and other institutional investors own 69.13% of the company's stock.

ONEOK Trading Up 1.1%

Shares of NYSE OKE traded up $0.83 during midday trading on Thursday, reaching $75.91. 2,460,863 shares of the stock were exchanged, compared to its average volume of 3,921,121. The stock has a market capitalization of $47.80 billion, a P/E ratio of 14.80, a PEG ratio of 1.76 and a beta of 0.99. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.46 and a current ratio of 0.59. The company has a 50 day simple moving average of $78.93 and a 200 day simple moving average of $85.35. ONEOK, Inc. has a twelve month low of $72.18 and a twelve month high of $118.07.

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

ONEOK Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Friday, August 1st were given 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 of this dividend was Friday, August 1st. ONEOK's dividend payout ratio (DPR) is presently 80.31%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on OKE shares. Citigroup dropped their target price on shares of ONEOK from $110.00 to $102.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. JPMorgan Chase & Co. upped their price objective on shares of 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 target price on shares of ONEOK and gave the stock a "sector outperform" rating in a research note on Tuesday, July 15th. Barclays set a $83.00 price target on ONEOK in a research report on Thursday, August 14th. Finally, Royal Bank Of Canada cut their price target on ONEOK from $94.00 to $88.00 and set a "sector perform" rating for the company in a report on Wednesday, August 13th. 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. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $101.93.

ONEOK Company 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.