ONEOK, Inc. $OKE Shares Sold by Great Lakes Advisors LLC

Key Points

• Great Lakes Advisors LLC reduced its holdings in ONEOK, Inc. by 18.3%, now owning 57,220 shares valued at approximately $5.68 million.
• Institutional investors have shown increased interest in ONEOK, with Vanguard Group and Invesco both increasing their holdings by 7.2% and 25.1%, respectively.
• ONEOK recently declared a quarterly dividend of $1.03 per share, yielding 5.7%, while its stock is currently trading at around $71.87.

Great Lakes Advisors LLC lessened its holdings in ONEOK, Inc. (NYSE:OKE - Free Report) by 18.3% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 57,220 shares of the utilities provider's stock after selling 12,785 shares during the period. Great Lakes Advisors LLC's holdings in ONEOK were worth $5,677,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in ONEOK by 7.2% in the 1st quarter. Vanguard Group Inc. now owns 75,196,969 shares of the utilities provider's stock valued at $7,461,043,000 after buying an additional 5,076,705 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of ONEOK by 13.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 20,957,230 shares of the utilities provider's stock valued at $2,079,376,000 after purchasing an additional 2,542,449 shares in the last quarter. Invesco Ltd. raised its holdings in shares of ONEOK by 25.1% in the 1st quarter. Invesco Ltd. now owns 8,339,939 shares of the utilities provider's stock valued at $827,489,000 after purchasing an additional 1,674,706 shares in the last quarter. Tortoise Capital Advisors L.L.C. raised its holdings in shares of ONEOK by 17.1% in the 1st quarter. Tortoise Capital Advisors L.L.C. now owns 7,171,795 shares of the utilities provider's stock valued at $711,586,000 after purchasing an additional 1,047,810 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in shares of ONEOK by 5.3% in the 1st quarter. Northern Trust Corp now owns 6,879,863 shares of the utilities provider's stock valued at $682,620,000 after purchasing an additional 344,002 shares in the last quarter. Hedge funds and other institutional investors own 69.13% of the company's stock.

ONEOK Stock Down 0.3%

Shares of NYSE OKE traded down $0.20 during mid-day trading on Friday, reaching $73.10. The company had a trading volume of 2,452,189 shares, compared to its average volume of 3,171,176. 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 firm has a 50 day simple moving average of $77.18 and a two-hundred day simple moving average of $83.34. The stock has a market cap of $46.04 billion, a P/E ratio of 14.25, a PEG ratio of 1.74 and a beta of 1.04. ONEOK, Inc. has a 52-week low of $70.63 and a 52-week high of $118.07.

ONEOK (NYSE:OKE - Get Free Report) last issued 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 company had revenue of $8.21 billion for the quarter, compared to the consensus estimate of $7.20 billion. During the same period last year, the firm posted $1.33 EPS. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. Sell-side analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Dividend Announcement

The business also recently disclosed 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 annualized dividend and a dividend yield of 5.6%. ONEOK's dividend payout ratio (DPR) is 80.31%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on OKE shares. JPMorgan Chase & Co. raised their price objective on shares of ONEOK from $94.00 to $97.00 and gave the company an "overweight" rating in a report on Thursday, July 3rd. Royal Bank Of Canada reduced their price objective on shares of ONEOK from $94.00 to $88.00 and set a "sector perform" rating on the stock in a report on Wednesday, August 13th. Raymond James Financial restated an "outperform" rating on shares of ONEOK in a report on Friday, August 1st. Mizuho reduced their price objective on shares of ONEOK from $87.00 to $82.00 and set a "neutral" rating on the stock in a report on Friday, August 29th. Finally, TD Cowen assumed coverage on shares of ONEOK in a research report on Monday, July 7th. They issued a "hold" rating and a $91.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average 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.