Greenleaf Trust Lowers Stock Holdings in ONEOK, Inc. $OKE

Greenleaf Trust trimmed its position in ONEOK, Inc. (NYSE:OKE) by 10.1% during the second quarter, HoldingsChannel reports. The institutional investor owned 9,059 shares of the utilities provider’s stock after selling 1,014 shares during the period. Greenleaf Trust’s holdings in ONEOK were worth $739,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Merit Financial Group LLC lifted its holdings in shares of ONEOK by 11.4% in the first quarter. Merit Financial Group LLC now owns 11,505 shares of the utilities provider’s stock worth $1,142,000 after buying an additional 1,180 shares in the last quarter. Dark Forest Capital Management LP increased its position in shares of 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 purchasing an additional 32,448 shares during the last quarter. Capital Investment Advisors LLC increased its position in shares of ONEOK by 3.9% in the first quarter. Capital Investment Advisors LLC now owns 289,997 shares of the utilities provider’s stock worth $28,774,000 after purchasing an additional 10,957 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund increased its position in shares of 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 purchasing an additional 10,728 shares during the last quarter. Finally, Advisor Resource Council bought a new position in shares of ONEOK in the first quarter worth approximately $511,000. 69.13% of the stock is owned by hedge funds and other institutional investors.

ONEOK Stock Down 0.7%

Shares of ONEOK stock opened at $72.50 on Friday. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.46 and a current ratio of 0.59. ONEOK, Inc. has a 52-week low of $70.63 and a 52-week high of $118.07. The stock has a market capitalization of $45.66 billion, a price-to-earnings ratio of 14.13, a P/E/G ratio of 1.79 and a beta of 1.01. The company’s 50 day moving average price is $74.86 and its 200-day moving average price is $81.27.

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

ONEOK Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Friday, August 1st were issued a $1.03 dividend. The ex-dividend date was Friday, August 1st. This represents a $4.12 annualized dividend and a dividend yield of 5.7%. ONEOK’s dividend payout ratio (DPR) is currently 80.31%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on OKE shares. Barclays set a $83.00 price objective on shares of ONEOK in a research report on Thursday, August 14th. Mizuho decreased their price objective on shares of ONEOK from $87.00 to $82.00 and set a “neutral” rating on the stock in a research report on Friday, August 29th. Royal Bank Of Canada decreased their price objective on shares of ONEOK from $94.00 to $88.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 13th. Raymond James Financial restated an “outperform” rating on shares of ONEOK in a research report on Friday, August 1st. Finally, Scotiabank set a $92.00 price target on shares of ONEOK and gave the company a “sector outperform” rating in a research report on Tuesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $99.00.

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.