ONEOK, Inc. $OKE Shares Sold by OMERS ADMINISTRATION Corp

Key Points

• OMERS ADMINISTRATION Corp reduced its holdings in ONEOK, Inc. by 14.2%, selling 3,466 shares during the first quarter, bringing their total ownership to 20,928 shares valued at approximately $2.08 million.
• ONEOK reported $1.34 earnings per share for the latest quarter, surpassing analysts' expectations, and had revenue of $8.21 billion, significantly exceeding the consensus estimate of $7.20 billion.
• The company declared a quarterly dividend of $1.03 per share, reflecting an annualized yield of 5.4%, with a current dividend payout ratio of 80.31%.

OMERS ADMINISTRATION Corp reduced its holdings in ONEOK, Inc. (NYSE:OKE - Free Report) by 14.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,928 shares of the utilities provider's stock after selling 3,466 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in ONEOK were worth $2,076,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the business. Marcum Wealth LLC lifted its holdings in shares of ONEOK by 1.1% in the 1st quarter. Marcum Wealth LLC now owns 10,250 shares of the utilities provider's stock valued at $1,017,000 after buying an additional 108 shares during the period. Morey & Quinn Wealth Partners LLC lifted its holdings in shares of ONEOK by 0.8% in the 1st quarter. Morey & Quinn Wealth Partners LLC now owns 15,722 shares of the utilities provider's stock valued at $1,560,000 after buying an additional 130 shares during the period. Visionary Wealth Advisors raised its holdings in ONEOK by 2.1% during the fourth quarter. Visionary Wealth Advisors now owns 6,320 shares of the utilities provider's stock worth $635,000 after purchasing an additional 132 shares during the last quarter. Clearstead Trust LLC boosted its position in ONEOK by 5.0% during the first quarter. Clearstead Trust LLC now owns 2,792 shares of the utilities provider's stock worth $277,000 after purchasing an additional 133 shares in the last quarter. Finally, BankPlus Wealth Management LLC increased its position in shares of ONEOK by 2.8% in the first quarter. BankPlus Wealth Management LLC now owns 4,884 shares of the utilities provider's stock valued at $485,000 after buying an additional 134 shares in the last quarter. 69.13% of the stock is owned by institutional investors and hedge funds.

ONEOK Trading Down 3.5%

Shares of NYSE:OKE traded down $2.59 during midday trading on Friday, reaching $71.80. The company's stock had a trading volume of 2,484,104 shares, compared to its average volume of 3,904,232. The business has a 50 day moving average price of $78.25 and a 200 day moving average price of $84.39. The firm has a market cap of $45.21 billion, a price-to-earnings ratio of 14.00, a price-to-earnings-growth ratio of 1.76 and a beta of 1.04. ONEOK, Inc. has a 1 year low of $70.63 and a 1 year high of $118.07. 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 (NYSE:OKE - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The utilities provider reported $1.34 EPS for the quarter, topping analysts' consensus estimates of $1.33 by $0.01. The company 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 quarter in the previous year, the firm posted $1.33 earnings per share. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. Research analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Friday, August 1st were issued a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 5.7%. The ex-dividend date of this dividend was Friday, August 1st. ONEOK's dividend payout ratio (DPR) is presently 80.31%.

Wall Street Analyst Weigh In

Several research firms recently commented on OKE. Raymond James Financial reiterated an "outperform" rating on shares of ONEOK in a research report on Friday, August 1st. TD Cowen started coverage on shares of ONEOK in a report on Monday, July 7th. They set a "hold" rating and a $91.00 target price for the company. Morgan Stanley dropped their target price on shares of ONEOK from $122.00 to $110.00 and set an "overweight" rating for the company in a report on Tuesday, August 26th. Scotiabank set a $92.00 target price on shares of ONEOK and gave the company a "sector outperform" rating in a report on Tuesday, July 15th. Finally, Royal Bank Of Canada dropped their price target on ONEOK from $94.00 to $88.00 and set a "sector perform" rating for the company in a research report on Wednesday, August 13th. One equities research 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. Based on data from MarketBeat, ONEOK has an average rating of "Moderate Buy" and a consensus price target of $100.60.

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.