Motco Sells 200 Shares of ONEOK, Inc. $OKE

Motco trimmed its position in shares of ONEOK, Inc. (NYSE:OKE) by 31.8% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 429 shares of the utilities provider’s stock after selling 200 shares during the quarter. Motco’s holdings in ONEOK were worth $35,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of OKE. Vanguard Group Inc. lifted its holdings in shares of ONEOK by 7.2% during the 1st quarter. Vanguard Group Inc. now owns 75,196,969 shares of the utilities provider’s stock valued at $7,461,043,000 after buying an additional 5,076,705 shares during the period. Nuveen LLC bought a new position in ONEOK in the 1st quarter worth $440,535,000. Boston Partners bought a new position in ONEOK in the 1st quarter worth $353,596,000. Charles Schwab Investment Management Inc. raised 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 purchasing an additional 2,542,449 shares during the period. Finally, Wellington Management Group LLP raised its holdings in ONEOK by 51.9% in the 1st 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 period. 69.13% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on OKE shares. Barclays decreased their target price on ONEOK from $83.00 to $78.00 and set an “equal weight” rating on the stock in a report on Thursday, October 9th. Morgan Stanley decreased their target price on ONEOK from $122.00 to $110.00 and set an “overweight” rating on the stock in a report on Tuesday, August 26th. Royal Bank Of Canada decreased their target price on ONEOK from $94.00 to $88.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 13th. TD Cowen began coverage on ONEOK in a research note on Monday, July 7th. They issued a “hold” rating and a $91.00 price target for the company. Finally, JPMorgan Chase & Co. increased their price target on ONEOK from $94.00 to $97.00 and gave the stock an “overweight” rating in a research note on Thursday, July 3rd. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $96.40.

ONEOK Trading Down 2.7%

Shares of OKE stock opened at $67.23 on Thursday. ONEOK, Inc. has a 52-week low of $66.56 and a 52-week high of $118.07. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.46 and a current ratio of 0.59. The firm has a market capitalization of $42.34 billion, a PE ratio of 12.36, a PEG ratio of 2.70 and a beta of 1.01. The stock has a fifty day simple moving average of $72.10 and a two-hundred day simple moving average of $78.08.

ONEOK (NYSE:OKE) last released its quarterly earnings data 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 net margin of 10.58% and a return on equity of 15.14%. The business had revenue of $9.17 billion during the quarter, compared to the consensus estimate of $8.23 billion. During the same quarter in the prior year, the firm earned $1.18 EPS. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. On average, analysts predict that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Monday, November 3rd will be issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 6.1%. The ex-dividend date of this dividend is Monday, November 3rd. ONEOK’s dividend payout ratio is 80.31%.

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.