Penbrook Management LLC Lowers Position in ONEOK, Inc. $OKE

Penbrook Management LLC cut its stake in ONEOK, Inc. (NYSE:OKE) by 2.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,510 shares of the utilities provider’s stock after selling 325 shares during the period. Penbrook Management LLC’s holdings in ONEOK were worth $940,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Dark Forest Capital Management LP lifted its holdings in ONEOK by 409.5% in the first quarter. Dark Forest Capital Management LP now owns 40,372 shares of the utilities provider’s stock worth $4,006,000 after buying an additional 32,448 shares during the period. Kentucky Retirement Systems Insurance Trust Fund lifted its holdings in ONEOK by 146.9% in the first quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 18,033 shares of the utilities provider’s stock worth $1,789,000 after buying an additional 10,728 shares during the period. Advisor Resource Council purchased a new stake in ONEOK in the first quarter worth about $511,000. Andrew Hill Investment Advisors Inc. purchased a new stake in ONEOK in the second quarter worth about $3,671,000. Finally, Banco Santander S.A. lifted its holdings in shares of ONEOK by 22.2% during the first quarter. Banco Santander S.A. now owns 26,824 shares of the utilities provider’s stock valued at $2,661,000 after purchasing an additional 4,880 shares during the last quarter. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

ONEOK Price Performance

Shares of OKE opened at $69.60 on Tuesday. The company has a market capitalization of $43.83 billion, a P/E ratio of 13.57, a price-to-earnings-growth ratio of 1.69 and a beta of 1.01. The company has a quick ratio of 0.46, a current ratio of 0.59 and a debt-to-equity ratio of 1.35. The firm has a 50 day moving average of $73.47 and a 200 day moving average of $79.61. ONEOK, Inc. has a twelve month low of $69.05 and a twelve month high of $118.07.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Monday, August 4th. The utilities provider reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.01. The company had revenue of $8.21 billion during the quarter, compared to the consensus estimate of $7.20 billion. ONEOK had a net margin of 11.06% and a return on equity of 14.90%. During the same quarter last year, the firm earned $1.33 earnings per share. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. As a group, equities research analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Friday, August 1st were given a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 5.9%. The ex-dividend date of this dividend was Friday, August 1st. ONEOK’s payout ratio is 80.31%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Raymond James Financial reiterated an “outperform” rating on shares of ONEOK in a report on Friday, August 1st. JPMorgan Chase & Co. lifted their target price on shares of ONEOK from $94.00 to $97.00 and gave the company an “overweight” rating in a report on Thursday, July 3rd. Mizuho lowered their target price on shares of ONEOK from $87.00 to $82.00 and set a “neutral” rating for the company in a report on Friday, August 29th. Morgan Stanley lowered their target price on shares of ONEOK from $122.00 to $110.00 and set an “overweight” rating for the company in a report on Tuesday, August 26th. Finally, TD Cowen assumed coverage on shares of ONEOK in a report on Monday, July 7th. They set a “hold” rating and a $91.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $98.69.

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.