Naples Global Advisors LLC Sells 633 Shares of ONEOK, Inc. $OKE

Naples Global Advisors LLC reduced its stake in ONEOK, Inc. (NYSE:OKE) by 18.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,746 shares of the utilities provider’s stock after selling 633 shares during the period. Naples Global Advisors LLC’s holdings in ONEOK were worth $224,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of OKE. Vanguard Group Inc. grew its stake in shares of ONEOK by 7.2% in 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 purchasing an additional 5,076,705 shares during the period. Nuveen LLC bought a new stake in shares of ONEOK in the 1st quarter valued at approximately $440,535,000. Boston Partners bought a new stake in shares of ONEOK in the 1st quarter valued at approximately $353,596,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of 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 acquiring an additional 2,542,449 shares in the last quarter. Finally, Wellington Management Group LLP boosted its holdings in shares of 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 acquiring an additional 2,182,081 shares in the last quarter. 69.13% of the stock is currently owned by institutional investors.

ONEOK Stock Up 0.6%

NYSE:OKE opened at $72.88 on Friday. The stock’s fifty day moving average price is $74.69 and its two-hundred day moving average price is $81.10. ONEOK, Inc. has a 52-week low of $70.63 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 company has a market cap of $45.89 billion, a price-to-earnings ratio of 14.21, a P/E/G ratio of 1.78 and a beta of 1.01.

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, topping the consensus estimate of $1.33 by $0.01. ONEOK had a return on equity of 14.90% and a net margin of 11.06%.The firm had revenue of $8.21 billion for the quarter, compared to the consensus estimate of $7.20 billion. During the same quarter in the prior year, the business earned $1.33 EPS. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. On average, analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Friday, August 1st were paid a $1.03 dividend. The ex-dividend date of this dividend was Friday, August 1st. This represents a $4.12 dividend on an annualized basis and a dividend yield of 5.7%. ONEOK’s dividend payout ratio is 80.31%.

Analysts Set New Price Targets

Several research analysts have recently commented on OKE shares. Mizuho reduced their target price on ONEOK from $87.00 to $82.00 and set a “neutral” rating on the stock in a report on Friday, August 29th. JPMorgan Chase & Co. boosted their target price on ONEOK from $94.00 to $97.00 and gave the stock an “overweight” rating in a report on Thursday, July 3rd. The Goldman Sachs Group started coverage on ONEOK in a report on Tuesday. They issued a “neutral” rating and a $75.00 target price on the stock. Morgan Stanley reduced 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. Finally, Barclays set a $83.00 target price on ONEOK in a report on Thursday, August 14th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.