ONEOK, Inc. $OKE Shares Sold by Pinion Investment Advisors LLC

Key Points

• Pinion Investment Advisors LLC reduced its stake in ONEOK, Inc. by 48.4% during the 2nd quarter, selling 11,610 shares and now holding 12,382 shares valued at approximately $1,011,000.
• ONEOK reported a quarterly earnings per share of $1.34, exceeding analysts' expectations of $1.33, with a revenue of $8.21 billion for the quarter.
• The company announced a quarterly dividend of $1.03 per share, resulting in an annualized yield of 5.8% with a payout ratio of 80.31%.

Pinion Investment Advisors LLC reduced its stake in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 48.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,382 shares of the utilities provider's stock after selling 11,610 shares during the period. Pinion Investment Advisors LLC's holdings in ONEOK were worth $1,011,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Presima Securities ULC boosted its stake in shares of ONEOK by 1.4% during the first quarter. Presima Securities ULC now owns 9,477 shares of the utilities provider's stock worth $940,000 after buying an additional 127 shares during the period. Morey & Quinn Wealth Partners LLC raised its holdings in ONEOK by 0.8% during the first quarter. Morey & Quinn Wealth Partners LLC now owns 15,722 shares of the utilities provider's stock worth $1,560,000 after purchasing an additional 130 shares in the last quarter. Clearstead Trust LLC raised its holdings in ONEOK by 5.0% during the first quarter. Clearstead Trust LLC now owns 2,792 shares of the utilities provider's stock worth $277,000 after purchasing an additional 133 shares in the last quarter. BankPlus Wealth Management LLC raised its holdings in ONEOK by 2.8% during the first quarter. BankPlus Wealth Management LLC now owns 4,884 shares of the utilities provider's stock worth $485,000 after purchasing an additional 134 shares in the last quarter. Finally, Capital Investment Advisory Services LLC raised its holdings in ONEOK by 4.5% during the first quarter. Capital Investment Advisory Services LLC now owns 3,132 shares of the utilities provider's stock worth $311,000 after purchasing an additional 134 shares in the last quarter. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

OKE has been the subject of several analyst reports. Weiss Ratings reissued a "hold (c+)" rating on shares of ONEOK in a report on Wednesday. Scotiabank set a $92.00 price target on shares of ONEOK and gave the stock a "sector outperform" rating in a report on Tuesday, July 15th. JPMorgan Chase & Co. increased their price target on shares of ONEOK from $94.00 to $97.00 and gave the stock an "overweight" rating in a report on Thursday, July 3rd. Mizuho dropped their target price on shares of ONEOK from $87.00 to $82.00 and set a "neutral" rating for the company in a report on Friday, August 29th. Finally, TD Cowen began coverage on shares of ONEOK in a report on Monday, July 7th. They issued a "hold" rating and a $91.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $98.69.

ONEOK Trading Down 1.5%

Shares of OKE opened at $71.32 on Friday. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.59 and a quick ratio of 0.46. The firm has a 50 day simple moving average of $73.87 and a 200-day simple moving average of $80.32. ONEOK, Inc. has a 1-year low of $70.63 and a 1-year high of $118.07. The stock has a market cap of $44.91 billion, a price-to-earnings ratio of 13.90, a price-to-earnings-growth ratio of 1.78 and a beta of 1.01.

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 for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $7.20 billion. 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. Equities analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Dividend Announcement

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 was Friday, August 1st. This represents a $4.12 dividend on an annualized basis and a yield of 5.8%. ONEOK's dividend payout ratio (DPR) is 80.31%.

About ONEOK

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.

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