Park Avenue Securities LLC Sells 727 Shares of ONEOK, Inc. $OKE

Park Avenue Securities LLC trimmed its stake in ONEOK, Inc. (NYSE:OKE) by 9.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,089 shares of the utilities provider’s stock after selling 727 shares during the quarter. Park Avenue Securities LLC’s holdings in ONEOK were worth $579,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of ONEOK by 7.2% during the first quarter. Vanguard Group Inc. now owns 75,196,969 shares of the utilities provider’s stock valued at $7,461,043,000 after purchasing an additional 5,076,705 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in ONEOK by 13.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 20,957,230 shares of the utilities provider’s stock valued at $2,079,376,000 after acquiring an additional 2,542,449 shares during the period. Invesco Ltd. lifted its holdings in ONEOK by 25.1% in the first quarter. Invesco Ltd. now owns 8,339,939 shares of the utilities provider’s stock valued at $827,489,000 after acquiring an additional 1,674,706 shares during the period. Tortoise Capital Advisors L.L.C. lifted its holdings in ONEOK by 17.1% in the first quarter. Tortoise Capital Advisors L.L.C. now owns 7,171,795 shares of the utilities provider’s stock valued at $711,586,000 after acquiring an additional 1,047,810 shares during the period. Finally, Northern Trust Corp lifted its holdings in ONEOK by 5.3% in the first quarter. Northern Trust Corp now owns 6,879,863 shares of the utilities provider’s stock valued at $682,620,000 after acquiring an additional 344,002 shares during the period. 69.13% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on OKE. TD Cowen began coverage on ONEOK in a report on Monday, July 7th. They issued a “hold” rating and a $91.00 target price on the stock. Scotiabank set a $92.00 target price on ONEOK and gave the company a “sector outperform” rating in a report on Tuesday, July 15th. Royal Bank Of Canada reduced their price target on ONEOK from $94.00 to $88.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 13th. Mizuho reduced their price target on ONEOK from $87.00 to $82.00 and set a “neutral” rating for the company in a research report on Friday, August 29th. Finally, Morgan Stanley reduced their price target on ONEOK from $122.00 to $110.00 and set an “overweight” rating for the company in a research report on Tuesday, August 26th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, ONEOK has a consensus rating of “Moderate Buy” and an average target price of $100.60.

ONEOK Stock Performance

NYSE OKE opened at $73.86 on Monday. The stock has a market capitalization of $46.51 billion, a PE ratio of 14.40, a P/E/G ratio of 1.81 and a beta of 1.04. ONEOK, Inc. has a 1-year low of $70.63 and a 1-year high of $118.07. The business has a 50 day simple moving average of $75.53 and a two-hundred day simple moving average of $81.74. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.59 and a quick ratio of 0.46.

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

ONEOK Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Friday, August 1st were paid a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 5.6%. The ex-dividend date of this dividend was Friday, August 1st. ONEOK’s dividend payout ratio (DPR) is presently 80.31%.

ONEOK Company 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.