Keybank National Association OH Trims Stock Holdings in ONEOK, Inc. $OKE

Keybank National Association OH lowered its holdings in ONEOK, Inc. (NYSE:OKE) by 3.5% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 110,306 shares of the utilities provider’s stock after selling 3,982 shares during the period. Keybank National Association OH’s holdings in ONEOK were worth $9,004,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of ONEOK by 7.2% in the 1st quarter. Vanguard Group Inc. now owns 75,196,969 shares of the utilities provider’s stock worth $7,461,043,000 after acquiring an additional 5,076,705 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of 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 acquiring an additional 2,542,449 shares in the last quarter. Invesco Ltd. grew its position in shares of ONEOK by 25.1% in the 1st quarter. Invesco Ltd. now owns 8,339,939 shares of the utilities provider’s stock worth $827,489,000 after acquiring an additional 1,674,706 shares in the last quarter. Tortoise Capital Advisors L.L.C. grew its position in shares of ONEOK by 17.1% in the 1st quarter. Tortoise Capital Advisors L.L.C. now owns 7,171,795 shares of the utilities provider’s stock worth $711,586,000 after acquiring an additional 1,047,810 shares in the last quarter. Finally, Northern Trust Corp grew its position in shares of ONEOK by 5.3% in the 1st 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 in the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Stock Up 0.6%

OKE opened at $67.09 on Friday. ONEOK, Inc. has a 12 month low of $65.89 and a 12 month high of $118.07. The company has a debt-to-equity ratio of 1.44, a current ratio of 0.90 and a quick ratio of 0.46. The stock has a market cap of $42.25 billion, a P/E ratio of 12.33, a P/E/G ratio of 2.62 and a beta of 1.01. The stock’s 50 day moving average price is $71.81 and its 200 day moving average price is $77.89.

ONEOK (NYSE:OKE) last posted its earnings results on Tuesday, October 28th. The utilities provider reported $1.49 EPS for the quarter, beating the consensus estimate of $1.48 by $0.01. ONEOK had a return on equity of 15.12% and a net margin of 10.58%.The firm had revenue of $9.17 billion for the quarter, compared to analysts’ expectations of $8.23 billion. During the same period last year, the firm earned $1.18 EPS. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. As a group, research analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Monday, November 3rd will be given a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 6.1%. The ex-dividend date is Monday, November 3rd. ONEOK’s dividend payout ratio (DPR) is currently 75.74%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on OKE. Weiss Ratings reiterated a “hold (c+)” rating on shares of ONEOK in a research report on Wednesday, October 8th. Morgan Stanley cut their price target on ONEOK from $122.00 to $110.00 and set an “overweight” rating on the stock in a report on Tuesday, August 26th. Citigroup cut their price target on ONEOK from $102.00 to $95.00 and set a “buy” rating on the stock in a report on Friday. Scotiabank set a $92.00 price target on ONEOK and gave the stock a “sector outperform” rating in a report on Tuesday, July 15th. Finally, The Goldman Sachs Group started coverage on ONEOK in a report on Tuesday, September 30th. They issued a “neutral” rating and a $75.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $93.33.

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.