Sumitomo Mitsui Trust Group Inc. Has $122.43 Million Stake in ONEOK, Inc. $OKE

Sumitomo Mitsui Trust Group Inc. lowered its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 3.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,499,792 shares of the utilities provider’s stock after selling 51,863 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.24% of ONEOK worth $122,428,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in OKE. Financial Network Wealth Advisors LLC boosted its position in shares of ONEOK by 2,466.7% during the 1st quarter. Financial Network Wealth Advisors LLC now owns 385 shares of the utilities provider’s stock valued at $38,000 after acquiring an additional 370 shares in the last quarter. MorganRosel Wealth Management LLC bought a new position in ONEOK during the first quarter worth about $39,000. Financial Gravity Asset Management Inc. acquired a new stake in ONEOK during the first quarter valued at approximately $40,000. Cheviot Value Management LLC bought a new stake in shares of ONEOK in the 1st quarter valued at approximately $46,000. Finally, North Capital Inc. bought a new stake in shares of ONEOK in the 1st quarter valued at approximately $48,000. Institutional investors and hedge funds own 69.13% of the company’s stock.

Analyst Ratings Changes

OKE has been the topic of several recent analyst reports. Scotiabank set a $92.00 price target on ONEOK and gave the company a “sector outperform” rating in a research note on Tuesday, July 15th. Mizuho reduced their target price on shares of ONEOK from $87.00 to $82.00 and set a “neutral” rating on the stock in a research note on Friday, August 29th. Raymond James Financial reaffirmed an “outperform” rating and issued a $82.00 target price (down previously from $100.00) on shares of ONEOK in a report on Friday. Morgan Stanley cut their price target 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, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of ONEOK in a research note on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $96.40.

ONEOK Trading Down 1.7%

OKE opened at $68.60 on Friday. The company has a current ratio of 0.59, a quick ratio of 0.46 and a debt-to-equity ratio of 1.35. The stock has a market capitalization of $43.20 billion, a PE ratio of 13.37, a PEG ratio of 2.68 and a beta of 1.01. ONEOK, Inc. has a 1-year low of $66.56 and a 1-year high of $118.07. The firm has a 50-day moving average price of $72.40 and a two-hundred day moving average price of $78.42.

ONEOK (NYSE:OKE) last announced its earnings results on Monday, August 4th. The utilities provider reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.01. The company had revenue of $8.21 billion for the quarter, compared to analyst estimates of $7.20 billion. ONEOK had a net margin of 11.06% and a return on equity of 14.90%. During the same period in the prior year, the business earned $1.33 earnings per share. 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 fiscal year.

ONEOK Dividend Announcement

The company also recently announced 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 annualized dividend and a dividend yield of 6.0%. The ex-dividend date of this dividend is Monday, November 3rd. ONEOK’s dividend payout ratio (DPR) is 80.31%.

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.