USS Investment Management Ltd Reduces Stock Position in ONEOK, Inc. $OKE

Key Points

• USS Investment Management Ltd reduced its stake in ONEOK, Inc. by 45.3%, selling 92,600 shares and holding 112,035 shares worth approximately $11.12 million as of the latest SEC filing.
• Multiple large investors have increased their positions in ONEOK, with MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. growing its holdings by 22.8%, making it the most significant addition among institutional investors.
• ONEOK declared a quarterly dividend of $1.03 per share, yielding 5.7%, with a current dividend payout ratio of 80.31%.

USS Investment Management Ltd cut its stake in ONEOK, Inc. (NYSE:OKE - Free Report) by 45.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 112,035 shares of the utilities provider's stock after selling 92,600 shares during the period. USS Investment Management Ltd's holdings in ONEOK were worth $11,119,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. UniSuper Management Pty Ltd grew its position in shares of ONEOK by 11.3% in the first quarter. UniSuper Management Pty Ltd now owns 48,403 shares of the utilities provider's stock valued at $4,803,000 after purchasing an additional 4,917 shares in the last quarter. Nissay Asset Management Corp Japan ADV grew its position in shares of ONEOK by 7.4% in the first quarter. Nissay Asset Management Corp Japan ADV now owns 75,504 shares of the utilities provider's stock valued at $7,492,000 after purchasing an additional 5,216 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in ONEOK by 22.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,590,086 shares of the utilities provider's stock worth $256,983,000 after acquiring an additional 480,632 shares during the period. Integrated Wealth Concepts LLC grew its position in ONEOK by 10.0% in the first quarter. Integrated Wealth Concepts LLC now owns 27,601 shares of the utilities provider's stock worth $2,739,000 after acquiring an additional 2,510 shares during the period. Finally, Hancock Whitney Corp grew its position in ONEOK by 3.3% in the first quarter. Hancock Whitney Corp now owns 5,368 shares of the utilities provider's stock worth $533,000 after acquiring an additional 172 shares during the period. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

OKE has been the subject of several analyst reports. Royal Bank Of Canada lowered their price objective on ONEOK from $94.00 to $88.00 and set a "sector perform" rating for the company in a research report on Wednesday, August 13th. Raymond James Financial reiterated an "outperform" rating on shares of ONEOK in a research report on Friday, August 1st. Mizuho lowered their price objective on ONEOK from $87.00 to $82.00 and set a "neutral" rating for the company in a research report on Friday, August 29th. Scotiabank set a $92.00 price objective on ONEOK and gave the stock a "sector outperform" rating in a research report on Tuesday, July 15th. Finally, Barclays set a $83.00 price objective on ONEOK in a research report on Thursday, August 14th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, ONEOK currently has a consensus rating of "Moderate Buy" and a consensus price target of $100.60.

ONEOK Trading Down 2.4%

OKE opened at $72.62 on Monday. ONEOK, Inc. has a 52 week low of $70.63 and a 52 week high of $118.07. The business has a fifty day simple moving average of $78.08 and a 200-day simple moving average of $84.01. The firm has a market cap of $45.74 billion, a P/E ratio of 14.16, a P/E/G ratio of 1.73 and a beta of 1.04. The company has a quick ratio of 0.46, a current ratio of 0.59 and a debt-to-equity ratio of 1.35.

ONEOK (NYSE:OKE - Get Free Report) last released its quarterly 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 return on equity of 14.90% and a net margin of 11.06%.The business had revenue of $8.21 billion during the quarter, compared to analyst estimates of $7.20 billion. During the same period last year, the business posted $1.33 earnings per share. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. On average, equities analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Friday, August 1st were given a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 5.7%. The ex-dividend date was Friday, August 1st. ONEOK's dividend payout ratio (DPR) is currently 80.31%.

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.

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