Flputnam Investment Management Co. Sells 10,029 Shares of ONEOK, Inc. $OKE

Key Points

• Flputnam Investment Management Co. has reduced its stake in ONEOK, Inc. by 21.1%, now holding 37,392 shares valued at approximately $3.71 million.
• ONEOK's latest quarterly earnings report showed an EPS of $1.34, surpassing analysts' expectations and generating $8.21 billion in revenue.
• The company recently declared a quarterly dividend of $1.03 per share, which reflects an annualized payout of $4.12 and a dividend yield of 5.4%.

Flputnam Investment Management Co. lessened its holdings in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 21.1% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 37,392 shares of the utilities provider's stock after selling 10,029 shares during the period. Flputnam Investment Management Co.'s holdings in ONEOK were worth $3,710,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the business. Greenline Partners LLC acquired a new position in shares of ONEOK during the fourth quarter valued at about $32,000. First Pacific Financial acquired a new position in ONEOK in the 1st quarter valued at approximately $34,000. Vermillion Wealth Management Inc. bought a new stake in shares of ONEOK in the 4th quarter worth approximately $37,000. Financial Network Wealth Advisors LLC grew its holdings 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 worth $38,000 after purchasing an additional 370 shares in the last quarter. Finally, MorganRosel Wealth Management LLC acquired a new stake in shares of ONEOK during the 1st quarter worth approximately $39,000. 69.13% of the stock is owned by institutional investors.

Analysts Set New Price Targets

OKE has been the topic of several recent research reports. Mizuho decreased their price objective on ONEOK from $87.00 to $82.00 and set a "neutral" rating on the stock in a report on Friday, August 29th. Scotiabank set a $92.00 price objective on ONEOK and gave the stock a "sector outperform" rating in a report on Tuesday, July 15th. Barclays set a $83.00 price objective on ONEOK in a report on Thursday, August 14th. Morgan Stanley lowered their price objective on ONEOK from $122.00 to $110.00 and set an "overweight" rating on the stock in a research note on Tuesday, August 26th. Finally, Royal Bank Of Canada lowered their price objective on ONEOK from $94.00 to $88.00 and set a "sector perform" rating on the stock in a research note on Wednesday, August 13th. One 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 stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $100.60.

ONEOK Price Performance

NYSE OKE traded up $0.50 during trading hours on Thursday, reaching $74.37. 2,505,777 shares of the company's stock were exchanged, compared to its average volume of 3,914,235. The stock has a market cap of $46.83 billion, a PE ratio of 14.50, a price-to-earnings-growth ratio of 1.82 and a beta of 1.04. ONEOK, Inc. has a one year low of $72.18 and a one year high of $118.07. The firm has a fifty day moving average of $78.39 and a 200-day moving average of $84.56. The company has a current ratio of 0.59, a quick ratio of 0.46 and a debt-to-equity ratio of 1.35.

ONEOK (NYSE:OKE - Get Free Report) last released its quarterly earnings results 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 business had revenue of $8.21 billion for the quarter, compared to analyst estimates of $7.20 billion. ONEOK had a return on equity of 14.90% and a net margin of 11.06%.During the same period in the prior year, the company earned $1.33 EPS. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. On average, equities research analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Friday, August 1st were given a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 5.5%. The ex-dividend date was Friday, August 1st. ONEOK's dividend payout ratio (DPR) is presently 80.31%.

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.