Bahl & Gaynor Inc. Sells 2,123 Shares of ONEOK, Inc. $OKE

Bahl & Gaynor Inc. lowered its position in shares of ONEOK, Inc. (NYSE:OKE) by 0.2% in the 1st quarter, Holdings Channel.com reports. The fund owned 1,042,492 shares of the utilities provider’s stock after selling 2,123 shares during the quarter. Bahl & Gaynor Inc.’s holdings in ONEOK were worth $103,436,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in OKE. Vanguard Group Inc. increased its position in shares of ONEOK by 7.2% during 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 acquiring an additional 5,076,705 shares in the last quarter. Nuveen LLC bought a new stake in shares of ONEOK during the first quarter valued at approximately $440,535,000. Boston Partners purchased a new stake in ONEOK in the first quarter worth approximately $353,596,000. Charles Schwab Investment Management Inc. boosted its holdings in 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 worth $2,079,376,000 after purchasing an additional 2,542,449 shares during the last quarter. Finally, Wellington Management Group LLP boosted its holdings in ONEOK by 51.9% in the first quarter. Wellington Management Group LLP now owns 6,388,987 shares of the utilities provider’s stock worth $633,915,000 after purchasing an additional 2,182,081 shares during the last quarter. Institutional investors own 69.13% of the company’s stock.

ONEOK Trading Up 1.0%

Shares of ONEOK stock opened at $74.7430 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 $72.18 and a 1-year high of $118.07. The company’s fifty day simple moving average is $79.34 and its 200-day simple moving average is $85.80. The stock has a market capitalization of $47.07 billion, a PE ratio of 14.57, a P/E/G ratio of 1.75 and a beta of 0.99.

ONEOK (NYSE:OKE) last released its earnings results on Monday, August 4th. The utilities provider reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates 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 quarter in the previous year, the company earned $1.33 EPS. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. As a group, equities analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Friday, August 1st were paid a dividend of $1.03 per share. The ex-dividend date was Friday, August 1st. This represents a $4.12 dividend on an annualized basis and a dividend yield of 5.5%. ONEOK’s payout ratio is 80.31%.

Analyst Ratings Changes

Several brokerages recently issued reports on OKE. Scotiabank set a $92.00 target price on shares of ONEOK and gave the stock a “sector outperform” rating in a report on Tuesday, July 15th. TD Cowen began coverage on shares of ONEOK in a report on Monday, July 7th. They issued a “hold” rating and a $91.00 target price on the stock. Citigroup dropped their target price on shares of ONEOK from $110.00 to $102.00 and set a “buy” rating on the stock in a report on Tuesday, May 6th. Stifel Nicolaus dropped their target price on shares of ONEOK from $110.00 to $107.00 and set a “buy” rating on the stock in a report on Thursday, May 1st. Finally, Wells Fargo & Company dropped their target price on shares of ONEOK from $102.00 to $93.00 and set an “equal weight” rating on the stock in a report on Thursday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, ONEOK has a consensus rating of “Moderate Buy” and an average target price of $103.57.

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.