ONEOK, Inc. $OKE Shares Sold by Northeast Investment Management

Northeast Investment Management decreased its stake in ONEOK, Inc. (NYSE:OKE) by 4.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,820 shares of the utilities provider’s stock after selling 193 shares during the period. Northeast Investment Management’s holdings in ONEOK were worth $312,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Brighton Jones LLC boosted its stake in ONEOK by 137.1% during the 4th quarter. Brighton Jones LLC now owns 15,278 shares of the utilities provider’s stock worth $1,534,000 after purchasing an additional 8,834 shares during the period. QRG Capital Management Inc. boosted its stake in ONEOK by 5.4% during the 1st quarter. QRG Capital Management Inc. now owns 7,467 shares of the utilities provider’s stock worth $741,000 after purchasing an additional 384 shares during the period. Retirement Systems of Alabama boosted its stake in ONEOK by 5.4% during the 1st quarter. Retirement Systems of Alabama now owns 133,325 shares of the utilities provider’s stock worth $13,229,000 after purchasing an additional 6,843 shares during the period. Advisor Resource Council acquired a new stake in ONEOK during the 1st quarter worth $511,000. Finally, Nilsine Partners LLC boosted its stake in ONEOK by 34.7% during the 1st quarter. Nilsine Partners LLC now owns 10,865 shares of the utilities provider’s stock worth $1,078,000 after purchasing an additional 2,800 shares during the period. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Stock Performance

Shares of OKE opened at $68.08 on Monday. The company has a 50-day simple moving average of $72.92 and a 200-day simple moving average of $78.78. 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 has a market capitalization of $42.88 billion, a PE ratio of 13.27, a P/E/G ratio of 1.67 and a beta of 1.01. ONEOK, Inc. has a 52-week low of $66.56 and a 52-week high of $118.07.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Monday, August 4th. The utilities provider reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.33 by $0.01. The business had revenue of $8.21 billion during the quarter, compared to the consensus estimate of $7.20 billion. ONEOK had a net margin of 11.06% and a return on equity of 14.90%. During the same quarter last year, the firm posted $1.33 EPS. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. Equities research analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Monday, November 3rd will be issued a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 6.1%. The ex-dividend date is Monday, November 3rd. ONEOK’s dividend payout ratio (DPR) is currently 80.31%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on OKE shares. Scotiabank set a $92.00 price target on shares of ONEOK and gave the stock a “sector outperform” rating in a research note on Tuesday, July 15th. JPMorgan Chase & Co. increased their price target on shares of ONEOK from $94.00 to $97.00 and gave the stock an “overweight” rating in a research note on Thursday, July 3rd. Morgan Stanley reduced their target price on shares of ONEOK from $122.00 to $110.00 and set an “overweight” rating for the company in a research note on Tuesday, August 26th. Mizuho reduced their target price on shares of ONEOK from $87.00 to $82.00 and set a “neutral” rating for the company in a research note on Friday, August 29th. Finally, Royal Bank Of Canada reduced their target price on shares of ONEOK from $94.00 to $88.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 13th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $98.27.

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.