NFJ Investment Group LLC Sells 8,038 Shares of ONEOK, Inc. $OKE

Key Points

• NFJ Investment Group LLC reduced its stake in ONEOK, Inc. by 7.5%, selling 8,038 shares to hold a total of 98,906 shares worth approximately $9.81 million.
• Several analysts have adjusted their price targets for ONEOK, with Mizuho lowering its estimate from $87 to $82 and Morgan Stanley from $122 to $110, while JPMorgan Chase & Co. increased theirs from $94 to $97.
• ONEOK recently paid a quarterly dividend of $1.03, resulting in an annualized yield of 5.5% with a payout ratio of 80.31%.

NFJ Investment Group LLC reduced its position in ONEOK, Inc. (NYSE:OKE - Free Report) by 7.5% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 98,906 shares of the utilities provider's stock after selling 8,038 shares during the quarter. NFJ Investment Group LLC's holdings in ONEOK were worth $9,813,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in OKE. Vanguard Group Inc. grew its stake in shares of ONEOK by 7.2% during the 1st quarter. Vanguard Group Inc. now owns 75,196,969 shares of the utilities provider's stock worth $7,461,043,000 after purchasing an additional 5,076,705 shares during the period. Nuveen LLC purchased a new position in ONEOK in the 1st quarter valued at about $440,535,000. Boston Partners purchased a new position in ONEOK in the 1st quarter valued at about $353,596,000. Charles Schwab Investment Management Inc. lifted its holdings in 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. Finally, Wellington Management Group LLP lifted its holdings in shares of ONEOK by 51.9% during the 1st quarter. Wellington Management Group LLP now owns 6,388,987 shares of the utilities provider's stock worth $633,915,000 after acquiring an additional 2,182,081 shares during the period. 69.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on OKE. JPMorgan Chase & Co. increased their price objective on shares of ONEOK from $94.00 to $97.00 and gave the stock an "overweight" rating in a report on Thursday, July 3rd. Barclays set a $83.00 price objective on shares of ONEOK in a research report on Thursday, August 14th. Morgan Stanley reduced their target price on ONEOK from $122.00 to $110.00 and set an "overweight" rating for the company in a research note on Tuesday, August 26th. TD Cowen started coverage on ONEOK in a research note on Monday, July 7th. They set a "hold" rating and a $91.00 price objective on the stock. Finally, Raymond James Financial restated an "outperform" rating on shares of ONEOK in a research note 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 issued a Hold rating to the stock. Based on data from MarketBeat, ONEOK has an average rating of "Moderate Buy" and a consensus target price of $100.60.

ONEOK Stock Down 2.4%

NYSE OKE traded down $1.76 during trading on Friday, reaching $72.62. 4,955,599 shares of the company's stock were exchanged, compared to its average volume of 3,205,482. ONEOK, Inc. has a fifty-two week low of $70.63 and a fifty-two week high of $118.07. The firm has a market capitalization of $45.74 billion, a PE ratio of 14.16, a P/E/G ratio of 1.73 and a beta of 1.04. 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 company's fifty day simple moving average is $78.08 and its 200-day simple moving average is $84.01.

ONEOK (NYSE:OKE - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $8.21 billion during 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 last year, the company 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 EPS for the current year.

ONEOK Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Friday, August 1st were issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 5.7%. The ex-dividend date was Friday, August 1st. ONEOK's payout ratio is currently 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.