Fruth Investment Management Sells 300 Shares of ONEOK, Inc. $OKE

Fruth Investment Management lowered its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 1.5% during the 1st quarter, Holdings Channel.com reports. The firm owned 20,152 shares of the utilities provider’s stock after selling 300 shares during the quarter. Fruth Investment Management’s holdings in ONEOK were worth $1,999,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in OKE. Vanguard Group Inc. grew its holdings in 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 during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in 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 during the last quarter. Invesco Ltd. grew its holdings in 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 during the last quarter. Tortoise Capital Advisors L.L.C. grew its holdings in 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 during the last quarter. Finally, Northern Trust Corp grew its holdings in 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 during the last quarter. Institutional investors own 69.13% of the company’s stock.

ONEOK Stock Performance

NYSE:OKE opened at $73.35 on Friday. ONEOK, Inc. has a one year low of $70.63 and a one year high of $118.07. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.59 and a quick ratio of 0.46. The company’s 50-day simple moving average is $77.35 and its 200 day simple moving average is $83.50. The firm has a market capitalization of $46.19 billion, a P/E ratio of 14.30, a PEG ratio of 1.74 and a beta of 1.04.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Monday, August 4th. The utilities provider reported $1.34 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 business had revenue of $8.21 billion for the quarter, compared to analyst estimates of $7.20 billion. During the same quarter in the previous year, the firm posted $1.33 earnings per share. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. As a group, analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Friday, August 1st were issued a $1.03 dividend. The ex-dividend date of this dividend was Friday, August 1st. This represents a $4.12 annualized dividend and a yield of 5.6%. ONEOK’s payout ratio is 80.31%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on OKE. Barclays set a $83.00 price target on shares of ONEOK in a report on Thursday, August 14th. JPMorgan Chase & Co. raised 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. TD Cowen began 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. 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. Finally, Raymond James Financial reaffirmed an “outperform” rating on shares of ONEOK in a research note on Friday, August 1st. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, ONEOK has an average rating of “Moderate Buy” and an average target price of $100.60.

ONEOK 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.