ONEOK, Inc. $OKE Shares Sold by Steward Partners Investment Advisory LLC

Key Points

• Steward Partners Investment Advisory LLC reduced its holdings in ONEOK, Inc. by 5.7%, selling 7,969 shares and now owning 131,433 shares valued at approximately $13 million.
• Various institutional investors have increased their stakes or entered new positions in ONEOK, with 69.13% of the stock currently owned by such investors.
• ONEOK's quarterly earnings exceeded expectations, reporting $1.34 earnings per share on revenue of $8.21 billion, and it recently announced a dividend of $1.03, yielding 5.6% annually.

Steward Partners Investment Advisory LLC reduced its position in ONEOK, Inc. (NYSE:OKE - Free Report) by 5.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 131,433 shares of the utilities provider's stock after selling 7,969 shares during the quarter. Steward Partners Investment Advisory LLC's holdings in ONEOK were worth $13,041,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of OKE. Vanguard Group Inc. raised its holdings in ONEOK by 7.2% during the first quarter. Vanguard Group Inc. now owns 75,196,969 shares of the utilities provider's stock worth $7,461,043,000 after buying an additional 5,076,705 shares during the last quarter. Nuveen LLC bought a new position in ONEOK during the first quarter valued at about $440,535,000. Boston Partners bought a new position in ONEOK during the first quarter worth about $353,596,000. Charles Schwab Investment Management Inc. boosted its position in ONEOK by 13.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 20,957,230 shares of the utilities provider's stock worth $2,079,376,000 after purchasing an additional 2,542,449 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of ONEOK by 240.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,790,760 shares of the utilities provider's stock valued at $280,194,000 after acquiring an additional 1,971,147 shares during the period. 69.13% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

OKE has been the topic of a number of recent analyst reports. Royal Bank Of Canada lowered their target price on shares of ONEOK from $94.00 to $88.00 and set a "sector perform" rating on the stock in a research note on Wednesday, August 13th. Wells Fargo & Company decreased their target price on shares of ONEOK from $102.00 to $93.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 1st. Citigroup decreased their target price on shares of ONEOK from $110.00 to $102.00 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. JPMorgan Chase & Co. boosted their price objective on shares of ONEOK from $94.00 to $97.00 and gave the company an "overweight" rating in a research report on Thursday, July 3rd. Finally, TD Cowen assumed coverage on shares of ONEOK in a research report on Monday, July 7th. They set a "hold" rating and a $91.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $103.57.

ONEOK Price Performance

OKE stock traded up $0.7230 during trading on Friday, reaching $74.7430. The company's stock had a trading volume of 2,380,376 shares, compared to its average volume of 3,929,510. 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's fifty day moving average is $79.52 and its 200-day moving average is $85.95. The company has a market capitalization of $47.07 billion, a P/E ratio of 14.57, a price-to-earnings-growth ratio of 1.75 and a beta of 0.99. ONEOK, Inc. has a 1 year low of $72.18 and a 1 year high of $118.07.

ONEOK (NYSE:OKE - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The utilities provider reported $1.34 EPS for the quarter, beating analysts' consensus estimates of $1.33 by $0.01. The business had revenue of $8.21 billion for the quarter, compared to analysts' expectations 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 firm earned $1.33 earnings per share. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. On average, research analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Friday, August 1st were paid a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 5.5%. The ex-dividend date of this dividend was Friday, August 1st. ONEOK's payout ratio is presently 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.