Jennison Associates LLC Sells 22,070 Shares of ONEOK, Inc. $OKE

Jennison Associates LLC cut its stake in ONEOK, Inc. (NYSE:OKE) by 7.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 262,331 shares of the utilities provider’s stock after selling 22,070 shares during the quarter. Jennison Associates LLC’s holdings in ONEOK were worth $21,414,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of ONEOK by 7.2% in the first quarter. Vanguard Group Inc. now owns 75,196,969 shares of the utilities provider’s stock valued at $7,461,043,000 after purchasing an additional 5,076,705 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of ONEOK by 13.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 20,957,230 shares of the utilities provider’s stock valued at $2,079,376,000 after purchasing an additional 2,542,449 shares during the period. Invesco Ltd. raised its position in shares of ONEOK by 25.1% in the first quarter. Invesco Ltd. now owns 8,339,939 shares of the utilities provider’s stock valued at $827,489,000 after purchasing an additional 1,674,706 shares during the period. Tortoise Capital Advisors L.L.C. raised its position in shares of ONEOK by 17.1% in the first quarter. Tortoise Capital Advisors L.L.C. now owns 7,171,795 shares of the utilities provider’s stock valued at $711,586,000 after purchasing an additional 1,047,810 shares during the period. Finally, Northern Trust Corp increased its position in ONEOK by 5.3% during the first quarter. Northern Trust Corp now owns 6,879,863 shares of the utilities provider’s stock worth $682,620,000 after acquiring an additional 344,002 shares during the period. 69.13% of the stock is owned by institutional investors.

ONEOK Trading Up 0.6%

Shares of ONEOK stock opened at $67.09 on Friday. The company has a market capitalization of $42.25 billion, a price-to-earnings ratio of 12.33, a PEG ratio of 2.62 and a beta of 1.01. The company has a quick ratio of 0.46, a current ratio of 0.90 and a debt-to-equity ratio of 1.44. ONEOK, Inc. has a 12-month low of $65.89 and a 12-month high of $118.07. The firm’s 50-day moving average price is $71.81 and its two-hundred day moving average price is $77.89.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Tuesday, October 28th. The utilities provider reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.48 by $0.01. The firm had revenue of $9.17 billion for the quarter, compared to the consensus estimate of $8.23 billion. ONEOK had a net margin of 10.58% and a return on equity of 15.12%. During the same period in the prior year, the company posted $1.18 earnings per share. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. On average, analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

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 paid 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 presently 75.74%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on OKE shares. Mizuho lowered their price target 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. Scotiabank set a $92.00 price target on shares of ONEOK and gave the stock a “sector outperform” rating in a research report on Tuesday, July 15th. Morgan Stanley lowered their price target on shares of ONEOK from $122.00 to $110.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 26th. Citigroup lowered their price target on shares of ONEOK from $102.00 to $95.00 and set a “buy” rating on the stock in a research report on Friday. Finally, Wells Fargo & Company lowered their price target on shares of ONEOK from $90.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $93.33.

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.