Lbp Am Sa Lowers Stock Position in ONEOK, Inc. $OKE

Key Points

• Lbp Am Sa significantly reduced its stake in ONEOK, Inc. by 47.8% during Q2, now holding 99,025 shares valued at $8,083,000.
• ONEOK reported an earnings per share (EPS) of $1.34 for the last quarter, slightly surpassing analyst expectations, with total revenue of $8.21 billion.
• The company announced a quarterly dividend of $1.03 per share, reflecting a yield of 5.6% and a payout ratio of 80.31%.

Lbp Am Sa cut its position in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 47.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 99,025 shares of the utilities provider's stock after selling 90,701 shares during the period. Lbp Am Sa's holdings in ONEOK were worth $8,083,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. First Pacific Financial purchased a new stake in ONEOK during the first quarter worth $34,000. Financial Network Wealth Advisors LLC boosted its holdings in ONEOK by 2,466.7% during the first 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 in the last quarter. MorganRosel Wealth Management LLC purchased a new stake in ONEOK during the first quarter worth $39,000. Financial Gravity Asset Management Inc. purchased a new stake in ONEOK during the first quarter worth $40,000. Finally, Rakuten Securities Inc. boosted its holdings in ONEOK by 152.1% during the first quarter. Rakuten Securities Inc. now owns 421 shares of the utilities provider's stock worth $42,000 after buying an additional 254 shares in the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

ONEOK Price Performance

Shares of NYSE OKE opened at $72.93 on Thursday. The firm has a 50-day simple moving average of $75.05 and a 200-day simple moving average of $81.45. The stock has a market capitalization of $45.93 billion, a price-to-earnings ratio of 14.22, a price-to-earnings-growth ratio of 1.79 and a beta of 1.01. The company has a quick ratio of 0.46, a current ratio of 0.59 and a debt-to-equity ratio of 1.35. ONEOK, Inc. has a 52 week low of $70.63 and a 52 week high of $118.07.

ONEOK (NYSE:OKE - Get Free Report) last issued its earnings results 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 business had revenue of $8.21 billion during the quarter, compared to analysts' expectations 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 earned $1.33 earnings per share. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. On average, equities analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The company 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 annualized dividend and a yield of 5.6%. The ex-dividend date was Friday, August 1st. ONEOK's dividend payout ratio (DPR) is presently 80.31%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Mizuho decreased their price objective on shares of ONEOK from $87.00 to $82.00 and set a "neutral" rating on the stock in a report on Friday, August 29th. Morgan Stanley decreased their price objective on shares of ONEOK from $122.00 to $110.00 and set an "overweight" rating on the stock in a report on Tuesday, August 26th. Raymond James Financial reaffirmed an "outperform" rating on shares of ONEOK in a report on Friday, August 1st. TD Cowen assumed coverage on shares of ONEOK in a report on Monday, July 7th. They set a "hold" rating and a $91.00 price objective on the stock. Finally, The Goldman Sachs Group assumed coverage on shares of ONEOK in a report on Tuesday. They set a "neutral" rating and a $75.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $99.00.

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.

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