Transcendent Capital Group LLC Decreases Holdings in ONEOK, Inc. $OKE

Key Points

• Transcendent Capital Group LLC decreased its holdings in ONEOK, Inc. by 62.8% during the second quarter, now owning 2,514 shares valued at $205,000.
• ONEOK's recent earnings report showed an EPS of $1.34, exceeding analysts' expectations, with a total revenue of $8.21 billion.
• The company announced a quarterly dividend of $1.03 per share, resulting in an annualized yield of 6.0% and a payout ratio of 80.31%.

Transcendent Capital Group LLC trimmed its holdings in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 62.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,514 shares of the utilities provider's stock after selling 4,236 shares during the quarter. Transcendent Capital Group LLC's holdings in ONEOK were worth $205,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in OKE. Vanguard Group Inc. raised its position in shares of ONEOK by 7.2% during the 1st quarter. Vanguard Group Inc. now owns 75,196,969 shares of the utilities provider's stock valued at $7,461,043,000 after buying an additional 5,076,705 shares in the last quarter. Nuveen LLC purchased a new stake in ONEOK in the 1st quarter worth about $440,535,000. Boston Partners purchased a new stake in ONEOK in the 1st quarter worth about $353,596,000. Charles Schwab Investment Management Inc. raised its position in ONEOK by 13.8% in the 1st 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, Wellington Management Group LLP raised its position in ONEOK by 51.9% in the 1st quarter. Wellington Management Group LLP now owns 6,388,987 shares of the utilities provider's stock worth $633,915,000 after purchasing an additional 2,182,081 shares during the period. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

ONEOK Stock Performance

Shares of NYSE:OKE opened at $69.22 on Friday. The firm has a market cap of $43.59 billion, a PE ratio of 13.49, a price-to-earnings-growth ratio of 1.70 and a beta of 1.01. The firm's 50 day simple moving average is $73.67 and its 200-day simple moving average is $79.94. ONEOK, Inc. has a one year low of $69.08 and a one year 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.

ONEOK (NYSE:OKE - Get Free Report) last issued its earnings results on Monday, August 4th. The utilities provider reported $1.34 EPS for the quarter, topping analysts' consensus estimates of $1.33 by $0.01. The business had revenue of $8.21 billion for the quarter, compared to analyst estimates of $7.20 billion. ONEOK had a net margin of 11.06% and a return on equity of 14.90%. During the same period last year, the company posted $1.33 earnings per share. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. As a group, equities analysts predict that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Friday, August 1st were paid 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 dividend yield of 6.0%. ONEOK's dividend payout ratio (DPR) is currently 80.31%.

Analyst Ratings Changes

A number of analysts recently weighed in on OKE shares. TD Cowen started coverage on shares of ONEOK in a research report on Monday, July 7th. They issued a "hold" rating and a $91.00 price objective on the stock. Royal Bank Of Canada reduced their price objective on shares of ONEOK from $94.00 to $88.00 and set a "sector perform" rating on the stock in a research report on Wednesday, August 13th. The Goldman Sachs Group started coverage on shares of ONEOK in a research report on Tuesday, September 30th. They issued a "neutral" rating and a $75.00 price objective on the stock. Weiss Ratings reissued a "hold (c+)" rating on shares of ONEOK in a research report on Wednesday. Finally, Mizuho reduced their price objective on shares of ONEOK from $87.00 to $82.00 and set a "neutral" rating on the stock in a research report on Friday, August 29th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, ONEOK presently has an average rating of "Moderate Buy" and an average target price of $98.69.

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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