Prime Capital Investment Advisors LLC Sells 8,883 Shares of ONEOK, Inc. $OKE

Key Points

• Prime Capital Investment Advisors LLC reduced its stake in ONEOK, Inc. by 13.8%, selling 8,883 shares, and now holds a total of 55,433 shares valued at approximately $4.5 million.
• ONEOK reported earnings of $1.34 per share for the last quarter, exceeding expectations, and announced a quarterly dividend of $1.03, providing an annual yield of 5.7%.
• Analysts currently have a consensus price target of $99.00 for ONEOK, with a majority rating the stock as a "Moderate Buy" following recent upgrades from various research firms.

Prime Capital Investment Advisors LLC trimmed its holdings in ONEOK, Inc. (NYSE:OKE - Free Report) by 13.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 55,433 shares of the utilities provider's stock after selling 8,883 shares during the quarter. Prime Capital Investment Advisors LLC's holdings in ONEOK were worth $4,525,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in OKE. Dark Forest Capital Management LP boosted its holdings in shares of ONEOK by 409.5% during the 1st quarter. Dark Forest Capital Management LP now owns 40,372 shares of the utilities provider's stock worth $4,006,000 after buying an additional 32,448 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund boosted its stake in ONEOK by 146.9% during the first quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 18,033 shares of the utilities provider's stock worth $1,789,000 after acquiring an additional 10,728 shares in the last quarter. Advisor Resource Council acquired a new stake in ONEOK in the first quarter worth $511,000. Andrew Hill Investment Advisors Inc. bought a new stake in ONEOK in the second quarter valued at $3,671,000. Finally, Banco Santander S.A. increased its stake in ONEOK by 22.2% in the first quarter. Banco Santander S.A. now owns 26,824 shares of the utilities provider's stock valued at $2,661,000 after purchasing an additional 4,880 shares in the last quarter. Institutional investors and hedge funds own 69.13% of the company's stock.

ONEOK Stock Down 0.2%

ONEOK stock opened at $72.72 on Tuesday. ONEOK, Inc. has a fifty-two week low of $70.63 and a fifty-two week high of $118.07. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.46 and a current ratio of 0.59. The firm's 50-day simple moving average is $74.50 and its 200 day simple moving average is $80.64. The stock has a market cap of $45.80 billion, a PE ratio of 14.18, a price-to-earnings-growth ratio of 1.79 and a beta of 1.01.

ONEOK (NYSE:OKE - Get Free Report) last posted its earnings results on Monday, August 4th. The utilities provider reported $1.34 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 firm had revenue of $8.21 billion for the quarter, compared to analysts' expectations of $7.20 billion. During the same quarter last year, the firm earned $1.33 EPS. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. Research analysts predict that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Friday, August 1st were paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 5.7%. The ex-dividend date was Friday, August 1st. ONEOK's dividend payout ratio is 80.31%.

Analyst Upgrades and Downgrades

OKE has been the subject of a number of research analyst reports. Barclays set a $83.00 target price on ONEOK in a research report on Thursday, August 14th. Scotiabank set a $92.00 target price on ONEOK and gave the stock a "sector outperform" rating in a research report on Tuesday, July 15th. Raymond James Financial reiterated an "outperform" rating on shares of ONEOK in a report on Friday, August 1st. TD Cowen initiated coverage on shares of ONEOK in a research note on Monday, July 7th. They set a "hold" rating and a $91.00 price target for the company. Finally, Weiss Ratings reaffirmed a "hold (c+)" rating on shares of ONEOK in a research note on Saturday, September 27th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, ONEOK has an average rating of "Moderate Buy" and a consensus price target of $99.00.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.