ONEOK, Inc. $OKE Shares Sold by MAI Capital Management

Key Points

• MAI Capital Management decreased its stake in ONEOK, Inc. by 9.2% in Q1, now holding 55,246 shares valued at approximately $5.48 million.
• Analysts have lowered price targets for ONEOK, with Citigroup setting a new target of $102 and Royal Bank of Canada adjusting to $88, while the stock has a consensus rating of "Moderate Buy".
• ONEOK announced a quarterly dividend of $1.03 per share, representing an annualized yield of 5.4%, with a payout ratio of 80.31%.

MAI Capital Management trimmed its stake in ONEOK, Inc. (NYSE:OKE - Free Report) by 9.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 55,246 shares of the utilities provider's stock after selling 5,587 shares during the period. MAI Capital Management's holdings in ONEOK were worth $5,482,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in OKE. Brighton Jones LLC boosted its position in 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 buying an additional 8,834 shares during the period. AQR Capital Management LLC boosted its position in ONEOK by 18.9% in the 4th quarter. AQR Capital Management LLC now owns 95,104 shares of the utilities provider's stock valued at $9,548,000 after buying an additional 15,135 shares during the period. Aptus Capital Advisors LLC boosted its position in ONEOK by 84.5% in the 4th quarter. Aptus Capital Advisors LLC now owns 8,179 shares of the utilities provider's stock valued at $821,000 after buying an additional 3,746 shares during the period. BIP Wealth LLC bought a new stake in shares of ONEOK in the 4th quarter valued at about $238,000. Finally, Bearing Point Capital LLC bought a new stake in shares of ONEOK in the 4th quarter valued at about $668,000. 69.13% of the stock is owned by hedge funds and other institutional investors.

ONEOK Stock Down 2.4%

Shares of NYSE OKE traded down $1.76 during trading hours on Friday, hitting $72.62. 4,955,599 shares of the stock were exchanged, compared to its average volume of 3,115,726. The company has a quick ratio of 0.46, a current ratio of 0.59 and a debt-to-equity ratio of 1.35. The company has a market cap of $45.74 billion, a PE ratio of 14.16, a PEG ratio of 1.77 and a beta of 1.04. The firm has a fifty day moving average price of $78.08 and a 200-day moving average price of $84.21. ONEOK, Inc. has a 12 month low of $70.63 and a 12 month high of $118.07.

ONEOK (NYSE:OKE - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The utilities provider reported $1.34 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 firm had revenue of $8.21 billion during the quarter, compared to analyst estimates of $7.20 billion. During the same quarter in the previous year, the business posted $1.33 EPS. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. On average, sell-side analysts expect that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Friday, August 1st were paid 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 yield of 5.7%. ONEOK's dividend payout ratio is presently 80.31%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on OKE shares. Mizuho reduced their price target on shares of ONEOK from $87.00 to $82.00 and set a "neutral" rating for the company in a report on Friday, August 29th. Royal Bank Of Canada reduced their price target on shares of ONEOK from $94.00 to $88.00 and set a "sector perform" rating for the company in a report on Wednesday, August 13th. Raymond James Financial restated an "outperform" rating on shares of ONEOK in a report on Friday, August 1st. JPMorgan Chase & Co. boosted their price target on shares of ONEOK from $94.00 to $97.00 and gave the company an "overweight" rating in a report on Thursday, July 3rd. Finally, Scotiabank set a $92.00 price target on shares of 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 issued a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat, ONEOK presently has an average rating of "Moderate Buy" and an average target price of $100.60.

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.