Ameriprise Financial Inc. Cuts Stock Holdings in ONEOK, Inc. $OKE

Key Points

• Ameriprise Financial Inc. reduced its stake in ONEOK, Inc. by 2.3%, now holding approximately $78.6 million worth of shares.
• ONEOK recently reported $1.34 earnings per share for the last quarter, surpassing consensus estimates by 1 cent and generating $8.21 billion in revenue.
• The company declared a quarterly dividend of $1.03, with a yield of 5.5% and a payout ratio of 80.31%.

Ameriprise Financial Inc. decreased its position in ONEOK, Inc. (NYSE:OKE - Free Report) by 2.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 791,214 shares of the utilities provider's stock after selling 18,654 shares during the quarter. Ameriprise Financial Inc. owned 0.13% of ONEOK worth $78,619,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in OKE. Greenline Partners LLC bought a new position in shares of ONEOK during the 4th quarter valued at approximately $32,000. First Pacific Financial bought a new position in shares of ONEOK during the 1st quarter valued at approximately $34,000. Vermillion Wealth Management Inc. bought a new position in shares of ONEOK during the 4th quarter valued at approximately $37,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of ONEOK during the 4th quarter valued at approximately $39,000. Finally, Financial Network Wealth Advisors LLC increased its position in shares of ONEOK by 2,466.7% during the 1st quarter. Financial Network Wealth Advisors LLC now owns 385 shares of the utilities provider's stock valued at $38,000 after purchasing an additional 370 shares during the last quarter. Institutional investors own 69.13% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on OKE. Scotiabank set a $92.00 target price on ONEOK and gave the company a "sector outperform" rating in a research report on Tuesday, July 15th. Barclays set a $83.00 target price on ONEOK in a research report on Thursday, August 14th. Wells Fargo & Company cut their target price on ONEOK from $102.00 to $93.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 1st. JPMorgan Chase & Co. upped their price objective on ONEOK from $94.00 to $97.00 and gave the company an "overweight" rating in a research report on Thursday, July 3rd. Finally, Raymond James Financial reaffirmed an "outperform" rating on shares of ONEOK in a research report on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $100.60.

ONEOK Stock Up 0.7%

ONEOK stock traded up $0.51 during mid-day trading on Friday, reaching $76.40. 2,652,473 shares of the company were exchanged, compared to its average volume of 3,920,033. ONEOK, Inc. has a 12-month low of $72.18 and a 12-month high of $118.07. The firm has a market cap of $48.12 billion, a P/E ratio of 14.89, a PEG ratio of 1.78 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 business has a fifty day moving average of $78.82 and a 200 day moving average of $85.19.

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

ONEOK Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Friday, August 1st were paid a $1.03 dividend. The ex-dividend date was Friday, August 1st. This represents a $4.12 dividend on an annualized basis and a yield of 5.4%. ONEOK's dividend payout ratio (DPR) is 80.31%.

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.