BancFirst Trust & Investment Management Trims Stake in ONEOK, Inc. $OKE

BancFirst Trust & Investment Management lowered its position in ONEOK, Inc. (NYSE:OKE) by 1.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,302 shares of the utilities provider’s stock after selling 348 shares during the quarter. ONEOK comprises about 0.8% of BancFirst Trust & Investment Management’s portfolio, making the stock its 12th largest position. BancFirst Trust & Investment Management’s holdings in ONEOK were worth $1,812,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in OKE. Brighton Jones LLC raised its stake in shares of ONEOK by 137.1% in the fourth quarter. Brighton Jones LLC now owns 15,278 shares of the utilities provider’s stock valued at $1,534,000 after acquiring an additional 8,834 shares during the period. NorthRock Partners LLC grew its holdings in shares of ONEOK by 133.9% in the fourth quarter. NorthRock Partners LLC now owns 5,512 shares of the utilities provider’s stock worth $553,000 after purchasing an additional 3,155 shares during the last quarter. Nomura Holdings Inc. bought a new position in shares of ONEOK in the fourth quarter worth about $2,601,000. Nissay Asset Management Corp Japan ADV grew its holdings in shares of ONEOK by 1.7% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 70,288 shares of the utilities provider’s stock worth $7,087,000 after purchasing an additional 1,144 shares during the last quarter. Finally, Man Group plc grew its holdings in shares of ONEOK by 14.5% in the fourth quarter. Man Group plc now owns 335,653 shares of the utilities provider’s stock worth $33,700,000 after purchasing an additional 42,474 shares during the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. TD Cowen assumed coverage on shares of ONEOK in a report on Monday, July 7th. They issued a “hold” rating and a $91.00 price target on the stock. Raymond James Financial restated an “outperform” rating on shares of ONEOK in a report on Friday, August 1st. Mizuho cut their price target on shares of ONEOK from $87.00 to $82.00 and set a “neutral” rating on the stock in a report on Friday, August 29th. Morgan Stanley cut their price target on shares of ONEOK from $122.00 to $110.00 and set an “overweight” rating on the stock in a report on Tuesday, August 26th. Finally, JPMorgan Chase & Co. upped their price target on shares of ONEOK from $94.00 to $97.00 and gave the stock an “overweight” rating in a report on Thursday, July 3rd. 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. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $100.60.

ONEOK Stock Down 0.3%

Shares of ONEOK stock opened at $73.10 on Friday. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.59 and a quick ratio of 0.46. ONEOK, Inc. has a 1 year low of $70.63 and a 1 year high of $118.07. The firm’s 50-day moving average is $77.18 and its two-hundred day moving average is $83.34. The stock has a market cap of $46.04 billion, a price-to-earnings ratio of 14.25, a PEG ratio of 1.74 and a beta of 1.04.

ONEOK (NYSE:OKE) last issued its earnings results on Monday, August 4th. The utilities provider reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.01. ONEOK had a net margin of 11.06% and a return on equity of 14.90%. The company had revenue of $8.21 billion for the quarter, compared to analysts’ expectations of $7.20 billion. During the same period in the prior year, the business earned $1.33 EPS. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. As a group, research analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal 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 issued a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 5.6%. 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.