ONEOK, Inc. $OKE Shares Sold by Korea Investment CORP

Key Points

• Korea Investment CORP decreased its stake in ONEOK, Inc. by 8.2%, owning 313,817 shares valued at approximately $31 million after selling 28,049 shares.
• Other institutional investors, including Vanguard Group and Charles Schwab Investment Management, increased their holdings in ONEOK, contributing to a total institutional ownership of 69.13%.
• ONEOK reported a quarterly earnings per share of $1.34, surpassing estimates, and announced a quarterly dividend of $1.03 per share with a yield of 5.6%.

Korea Investment CORP trimmed its position in ONEOK, Inc. (NYSE:OKE - Free Report) by 8.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 313,817 shares of the utilities provider's stock after selling 28,049 shares during the quarter. Korea Investment CORP owned approximately 0.05% of ONEOK worth $31,137,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of OKE. Brighton Jones LLC raised its holdings in shares of ONEOK by 137.1% in the 4th quarter. Brighton Jones LLC now owns 15,278 shares of the utilities provider's stock valued at $1,534,000 after purchasing an additional 8,834 shares in the last quarter. Canada Pension Plan Investment Board raised its holdings in shares of ONEOK by 12.1% in the 4th quarter. Canada Pension Plan Investment Board now owns 104,471 shares of the utilities provider's stock valued at $10,489,000 after purchasing an additional 11,246 shares in the last quarter. Ossiam raised its holdings in shares of ONEOK by 65.2% in the 4th quarter. Ossiam now owns 910 shares of the utilities provider's stock valued at $91,000 after purchasing an additional 359 shares in the last quarter. Natixis raised its holdings in shares of ONEOK by 340.5% in the 4th quarter. Natixis now owns 39,265 shares of the utilities provider's stock valued at $3,942,000 after purchasing an additional 30,351 shares in the last quarter. Finally, MML Investors Services LLC raised its holdings in shares of ONEOK by 7.5% in the 4th quarter. MML Investors Services LLC now owns 27,353 shares of the utilities provider's stock valued at $2,746,000 after purchasing an additional 1,910 shares in the last quarter. 69.13% of the stock is currently owned by institutional investors and hedge funds.

ONEOK Stock Performance

ONEOK stock traded up $0.7230 during midday trading on Friday, hitting $74.7430. 2,382,272 shares of the company's stock were exchanged, compared to its average volume of 3,622,767. ONEOK, Inc. has a 12-month low of $72.18 and a 12-month 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. The stock has a market cap of $47.07 billion, a price-to-earnings ratio of 14.57, a price-to-earnings-growth ratio of 1.75 and a beta of 0.99. The firm's 50 day simple moving average is $79.34 and its 200 day simple moving average is $85.80.

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

ONEOK Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Friday, August 1st were given a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 5.5%. The ex-dividend date of this dividend was Friday, August 1st. ONEOK's dividend payout ratio (DPR) is presently 80.31%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Barclays set a $83.00 price objective on shares of ONEOK in a report on Thursday, August 14th. TD Cowen started coverage on shares of ONEOK in a research report on Monday, July 7th. They issued a "hold" rating and a $91.00 target price on the stock. Raymond James Financial reaffirmed an "outperform" rating on shares of ONEOK in a research report on Friday, August 1st. Stifel Nicolaus dropped their target price on shares of ONEOK from $110.00 to $107.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Finally, Wells Fargo & Company dropped their target price on shares of ONEOK from $102.00 to $93.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 1st. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $103.57.

About ONEOK

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.