Credit Agricole S A Trims Stake in ONEOK, Inc. $OKE

Key Points

• Credit Agricole S A significantly reduced its stake in ONEOK, Inc. by 43.3%, selling nearly 95,000 shares to hold 124,019 shares valued at $12.3 million.
• In its recent earnings report, ONEOK posted $1.34 EPS, exceeding estimates and achieved revenue of $8.21 billion, surpassing the consensus by nearly a billion.
• ONEOK announced a quarterly dividend of $1.03 per share, which contributes to an annual yield of 5.6% for shareholders, with a payout ratio of 80.31%.

Credit Agricole S A reduced its holdings in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 43.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 124,019 shares of the utilities provider's stock after selling 94,587 shares during the quarter. Credit Agricole S A's holdings in ONEOK were worth $12,305,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Greenline Partners LLC purchased a new stake in ONEOK in the fourth quarter worth $32,000. First Pacific Financial purchased a new stake in ONEOK in the first quarter worth $34,000. Vermillion Wealth Management Inc. purchased a new stake in ONEOK in the fourth quarter worth $37,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in ONEOK in the fourth quarter worth $39,000. Finally, Financial Network Wealth Advisors LLC increased its position in ONEOK by 2,466.7% in 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 during the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

ONEOK Stock Performance

Shares of NYSE OKE traded up $0.7230 during mid-day trading on Friday, hitting $74.7430. The company had a trading volume of 2,382,272 shares, compared to its average volume of 3,622,767. The company has a market capitalization of $47.07 billion, a price-to-earnings ratio of 14.57, a P/E/G ratio of 1.77 and a beta of 0.99. ONEOK, Inc. has a 1 year low of $72.18 and a 1 year high of $118.07. The company has a current ratio of 0.59, a quick ratio of 0.46 and a debt-to-equity ratio of 1.35. The stock's 50-day moving average price is $79.34 and its 200-day moving average price is $85.71.

ONEOK (NYSE:OKE - Get Free Report) last posted its earnings results 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 return on equity of 14.90% and a net margin of 11.06%.The business had revenue of $8.21 billion during the quarter, compared to analysts' expectations of $7.20 billion. During the same period in the previous year, the business earned $1.33 earnings per share. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. On average, sell-side analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Dividend Announcement

The firm also recently announced 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 5.5%. The ex-dividend date was Friday, August 1st. ONEOK's payout ratio is presently 80.31%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on OKE. Citigroup decreased their target price on ONEOK from $110.00 to $102.00 and set a "buy" rating for the company in a research report on Tuesday, May 6th. Stifel Nicolaus decreased their target price on ONEOK from $110.00 to $107.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Raymond James Financial reiterated an "outperform" rating on shares of ONEOK in a research report on Friday, August 1st. Wells Fargo & Company reduced their price target on ONEOK from $102.00 to $93.00 and set an "equal weight" rating for the company in a research report on Thursday, May 1st. Finally, JPMorgan Chase & Co. lifted their price target on ONEOK from $94.00 to $97.00 and gave the company an "overweight" rating in a research report on Thursday, July 3rd. One investment 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $103.57.

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.