Praxis Investment Management Inc. Sells 3,760 Shares of ONEOK, Inc. $OKE

Key Points

• Praxis Investment Management Inc. reduced its stake in ONEOK, Inc. by 17.8%, selling 3,760 shares and holding a total of 17,380 shares valued at approximately $1.42 million.
• ONEOK reported earnings of $1.34 per share for the last quarter, beating estimates and generating revenue of $8.21 billion, which was significantly above expectations.
• The company will pay a quarterly dividend of $1.03 per share on November 14th, resulting in an annualized yield of 6.1% and a dividend payout ratio of 80.31%.

Praxis Investment Management Inc. trimmed its position in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 17.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 17,380 shares of the utilities provider's stock after selling 3,760 shares during the period. Praxis Investment Management Inc.'s holdings in ONEOK were worth $1,419,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. First Pacific Financial bought a new position in ONEOK during the first quarter valued at $34,000. Financial Network Wealth Advisors LLC boosted its holdings in shares of ONEOK by 2,466.7% in the first quarter. Financial Network Wealth Advisors LLC now owns 385 shares of the utilities provider's stock worth $38,000 after acquiring an additional 370 shares during the period. MorganRosel Wealth Management LLC bought a new position in shares of ONEOK in the first quarter worth $39,000. Financial Gravity Asset Management Inc. bought a new position in shares of ONEOK in the first quarter worth $40,000. Finally, Grove Bank & Trust boosted its holdings in shares of ONEOK by 87.3% in the first quarter. Grove Bank & Trust now owns 459 shares of the utilities provider's stock worth $46,000 after acquiring an additional 214 shares during the period. 69.13% of the stock is owned by institutional investors.

ONEOK Trading Down 2.4%

NYSE OKE opened at $67.27 on Friday. The stock's 50-day simple moving average is $73.05 and its two-hundred day simple moving average is $79.24. ONEOK, Inc. has a twelve month low of $67.09 and a twelve month 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 company has a market capitalization of $42.36 billion, a price-to-earnings ratio of 13.11, a PEG ratio of 1.69 and a beta of 1.01.

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, beating analysts' consensus estimates of $1.33 by $0.01. ONEOK had a return on equity of 14.90% and a net margin of 11.06%.The firm had revenue of $8.21 billion for the quarter, compared to analysts' expectations of $7.20 billion. During the same period last year, the firm earned $1.33 earnings per share. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. Research analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Monday, November 3rd will be paid a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 6.1%. The ex-dividend date of this dividend is Monday, November 3rd. ONEOK's dividend payout ratio (DPR) is 80.31%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on OKE. Morgan Stanley cut their price target on ONEOK from $122.00 to $110.00 and set an "overweight" rating for the company in a report on Tuesday, August 26th. Raymond James Financial reaffirmed an "outperform" rating on shares of ONEOK in a report on Friday, August 1st. The Goldman Sachs Group began coverage on ONEOK in a report on Tuesday, September 30th. They issued a "neutral" rating and a $75.00 price target for the company. Mizuho cut their price target on ONEOK from $87.00 to $82.00 and set a "neutral" rating for the company in a report on Friday, August 29th. Finally, Scotiabank set a $92.00 price target on ONEOK and gave the stock a "sector outperform" rating in a report on Tuesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $98.27.

ONEOK Company 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.

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