Principal Financial Group Inc. Sells 21,412 Shares of ONEOK, Inc. $OKE

Key Points

• Principal Financial Group reduced its ONEOK stake by 2.7%, selling 21,412 shares and retaining 762,709 shares valued at approximately $66.3 million. Institutional investors collectively own 69.13% of the company.
• ONEOK reported quarterly EPS of $1.53, exceeding analysts’ $1.46 estimate, while revenue reached $12.05 billion versus the $8.95 billion consensus forecast.
• ONEOK pays a quarterly dividend of $1.07, equivalent to a $4.28 annualized payout and a 4.5% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $91.81.

Principal Financial Group Inc. reduced its stake in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 2.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 762,709 shares of the utilities provider's stock after selling 21,412 shares during the quarter. Principal Financial Group Inc. owned about 0.12% of ONEOK worth $66,310,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Capital International Investors purchased a new position in shares of ONEOK in the fourth quarter worth $586,500,000. Norges Bank purchased a new position in ONEOK during the fourth quarter valued at $564,867,000. First Eagle Investment Management LLC increased its holdings in ONEOK by 46.3% in the 4th quarter. First Eagle Investment Management LLC now owns 11,365,304 shares of the utilities provider's stock valued at $835,350,000 after acquiring an additional 3,596,089 shares during the last quarter. Danske Bank A S increased its holdings in ONEOK by 3,538.4% in the 4th quarter. Danske Bank A S now owns 1,691,433 shares of the utilities provider's stock valued at $124,320,000 after acquiring an additional 1,644,945 shares during the last quarter. Finally, Man Group plc lifted its stake in ONEOK by 292.1% in the 2nd quarter. Man Group plc now owns 1,558,993 shares of the utilities provider's stock worth $127,261,000 after purchasing an additional 1,161,352 shares in the last quarter. Institutional investors own 69.13% of the company's stock.

ONEOK Price Performance

OKE stock opened at $94.99 on Friday. ONEOK, Inc. has a 52 week low of $64.02 and a 52 week high of $96.07. The company has a quick ratio of 0.59, a current ratio of 0.74 and a debt-to-equity ratio of 1.34. The company has a fifty day simple moving average of $89.48 and a two-hundred day simple moving average of $87.61. The firm has a market capitalization of $59.88 billion, a P/E ratio of 16.38, a price-to-earnings-growth ratio of 4.83 and a beta of 0.73.

ONEOK (NYSE:OKE - Get Free Report) last issued its quarterly earnings data on Monday, August 3rd. The utilities provider reported $1.53 EPS for the quarter, topping analysts' consensus estimates of $1.46 by $0.07. The business had revenue of $12.05 billion during the quarter, compared to analysts' expectations of $8.95 billion. ONEOK had a net margin of 9.29% and a return on equity of 16.41%. During the same period last year, the company posted $1.34 EPS. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. Analysts anticipate that ONEOK, Inc. will post 5.87 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Monday, August 3rd were given a $1.07 dividend. The ex-dividend date was Monday, August 3rd. This represents a $4.28 annualized dividend and a yield of 4.5%. ONEOK's dividend payout ratio (DPR) is currently 73.79%.

Analysts Set New Price Targets

OKE has been the subject of several research reports. Wells Fargo & Company dropped their price objective on shares of ONEOK from $100.00 to $98.00 and set an "overweight" rating for the company in a report on Thursday, April 30th. Truist Financial boosted their target price on ONEOK from $91.00 to $93.00 and gave the stock a "hold" rating in a research report on Monday, May 4th. Freedom Capital raised ONEOK from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 5th. TD Cowen raised their price target on ONEOK from $85.00 to $90.00 and gave the company a "hold" rating in a report on Thursday, July 16th. Finally, Scotiabank downgraded ONEOK from a "sector outperform" rating to a "sector perform" rating and reduced their price objective for the stock from $92.00 to $89.00 in a research note on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $91.81.

ONEOK Company Profile

ONEOK, Inc NYSE: OKE is a publicly traded midstream energy company headquartered in Tulsa, Oklahoma. The company owns and operates a portfolio of natural gas and natural gas liquids (NGL) pipelines, processing facilities, fractionators and storage and terminal assets. Its operations are focused on gathering, processing, transporting, fractionating and marketing NGLs and interstate natural gas, providing critical infrastructure that connects hydrocarbon production to refineries, petrochemical plants and other end markets.

ONEOK's asset base includes pipeline systems and processing plants that move and condition natural gas, along with infrastructure for the transportation, storage and fractionation of NGLs such as ethane, propane and butane.

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