Eventide Asset Management LLC Sells 164,106 Shares of ONEOK, Inc. $OKE

Key Points

• Eventide Asset Management LLC significantly reduced its stake in ONEOK, Inc. by 82.2%, now holding 35,522 shares valued at approximately $3.5 million after selling 164,106 shares.
• During the same quarter, Vanguard Group Inc. increased its holdings in ONEOK by 7.2%, owning nearly 75.2 million shares valued at over $7.4 billion.
• ONEOK recently declared a quarterly dividend of $1.03 per share, resulting in an annualized yield of 5.5% and a payout ratio of 80.31%.

Eventide Asset Management LLC decreased its stake in ONEOK, Inc. (NYSE:OKE - Free Report) by 82.2% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 35,522 shares of the utilities provider's stock after selling 164,106 shares during the quarter. Eventide Asset Management LLC's holdings in ONEOK were worth $3,498,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of OKE. Merit Financial Group LLC boosted its position in ONEOK by 11.4% during the first quarter. Merit Financial Group LLC now owns 11,505 shares of the utilities provider's stock valued at $1,142,000 after purchasing an additional 1,180 shares during the last quarter. Dark Forest Capital Management LP raised its stake in shares of ONEOK by 409.5% during the 1st quarter. Dark Forest Capital Management LP now owns 40,372 shares of the utilities provider's stock worth $4,006,000 after purchasing an additional 32,448 shares in the last quarter. Capital Investment Advisors LLC lifted its holdings in shares of ONEOK by 3.9% during the 1st quarter. Capital Investment Advisors LLC now owns 289,997 shares of the utilities provider's stock valued at $28,774,000 after buying an additional 10,957 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund grew its stake in shares of ONEOK by 146.9% in the 1st quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 18,033 shares of the utilities provider's stock valued at $1,789,000 after buying an additional 10,728 shares in the last quarter. Finally, Ensign Peak Advisors Inc increased its holdings in ONEOK by 6.0% in the fourth quarter. Ensign Peak Advisors Inc now owns 340,480 shares of the utilities provider's stock worth $34,184,000 after buying an additional 19,199 shares during the last quarter. Institutional investors and hedge funds own 69.13% of the company's stock.

ONEOK Stock Performance

NYSE OKE traded up $0.51 during trading on Tuesday, hitting $71.87. The company's stock had a trading volume of 3,439,282 shares, compared to its average volume of 3,917,546. ONEOK, Inc. has a 52 week low of $70.63 and a 52 week 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. The firm has a market cap of $45.26 billion, a P/E ratio of 14.01, a price-to-earnings-growth ratio of 1.73 and a beta of 1.04. The firm has a 50 day moving average price of $77.87 and a 200 day moving average price of $83.82.

ONEOK (NYSE:OKE - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The utilities provider reported $1.34 earnings per share (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 business had revenue of $8.21 billion for the quarter, compared to the consensus estimate of $7.20 billion. During the same quarter last year, the company posted $1.33 earnings per share. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. Equities research analysts forecast 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 given a dividend of $1.03 per share. The ex-dividend date of this dividend 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 (DPR) is 80.31%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on OKE shares. Raymond James Financial reiterated an "outperform" rating on shares of ONEOK in a research note on Friday, August 1st. Royal Bank Of Canada reduced their price objective on shares of ONEOK from $94.00 to $88.00 and set a "sector perform" rating for the company in a research note on Wednesday, August 13th. Barclays set a $83.00 price objective on shares of ONEOK in a report on Thursday, August 14th. JPMorgan Chase & Co. raised their target price on ONEOK from $94.00 to $97.00 and gave the company an "overweight" rating in a report on Thursday, July 3rd. Finally, Mizuho reduced their price target on ONEOK from $87.00 to $82.00 and set a "neutral" rating for the company in a research report on Friday, August 29th. 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, the stock currently has a consensus rating of "Moderate Buy" and an average target price 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.