Sterling Capital Management LLC Decreases Stake in ONEOK, Inc. $OKE

Sterling Capital Management LLC trimmed its stake in shares of ONEOK, Inc. (NYSE:OKE) by 24.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 225,479 shares of the utilities provider’s stock after selling 71,242 shares during the period. Sterling Capital Management LLC’s holdings in ONEOK were worth $18,406,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Morningstar Investment Management LLC grew its holdings in ONEOK by 18.2% in the second quarter. Morningstar Investment Management LLC now owns 27,375 shares of the utilities provider’s stock valued at $2,235,000 after purchasing an additional 4,206 shares during the last quarter. Dark Forest Capital Management LP grew its stake in ONEOK by 409.5% in the 1st quarter. Dark Forest Capital Management LP now owns 40,372 shares of the utilities provider’s stock valued at $4,006,000 after acquiring an additional 32,448 shares during the last quarter. Jackson Hole Capital Partners LLC increased its holdings in ONEOK by 24.6% during the 2nd quarter. Jackson Hole Capital Partners LLC now owns 81,923 shares of the utilities provider’s stock valued at $6,687,000 after acquiring an additional 16,151 shares in the last quarter. Prudent Man Advisors LLC raised its position in ONEOK by 83.2% during the second quarter. Prudent Man Advisors LLC now owns 13,388 shares of the utilities provider’s stock worth $1,093,000 after acquiring an additional 6,082 shares during the last quarter. Finally, Andrew Hill Investment Advisors Inc. purchased a new stake in shares of ONEOK in the second quarter valued at about $3,671,000. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Stock Up 2.3%

Shares of OKE opened at $67.82 on Friday. ONEOK, Inc. has a fifty-two week low of $64.02 and a fifty-two week high of $118.07. The company’s fifty day moving average is $71.08 and its two-hundred day moving average is $77.35. The firm has a market cap of $42.67 billion, a PE ratio of 12.47, a price-to-earnings-growth ratio of 2.62 and a beta of 1.05. The company has a quick ratio of 0.46, a current ratio of 0.90 and a debt-to-equity ratio of 1.44.

ONEOK (NYSE:OKE) last issued its earnings results on Tuesday, October 28th. The utilities provider reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.48 by $0.01. ONEOK had a return on equity of 15.12% and a net margin of 10.58%.The business had revenue of $9.17 billion for the quarter, compared to analyst estimates of $8.23 billion. During the same period last year, the company posted $1.18 EPS. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. Analysts forecast 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 will be paid on Friday, November 14th. Stockholders of record on Monday, November 3rd will be issued a dividend of $1.03 per share. The ex-dividend date is Monday, November 3rd. This represents a $4.12 dividend on an annualized basis and a dividend yield of 6.1%. ONEOK’s payout ratio is presently 75.74%.

Insider Transactions at ONEOK

In other ONEOK news, Director Brian L. Derksen bought 2,500 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The stock was purchased at an average price of $66.00 per share, with a total value of $165,000.00. Following the transaction, the director owned 21,200 shares in the company, valued at $1,399,200. This trade represents a 13.37% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. The Goldman Sachs Group restated a “neutral” rating and set a $72.00 price objective on shares of ONEOK in a research report on Monday. Weiss Ratings reiterated a “hold (c+)” rating on shares of ONEOK in a research report on Wednesday, October 8th. Royal Bank Of Canada decreased their price target on shares of ONEOK from $94.00 to $88.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 13th. Stifel Nicolaus set a $94.00 price objective on shares of ONEOK in a research report on Thursday, October 30th. Finally, TD Cowen decreased their target price on shares of ONEOK from $78.00 to $76.00 and set a “hold” rating on the stock in a research report on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, ONEOK has an average rating of “Moderate Buy” and an average price target of $91.94.

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.