Prime Capital Investment Advisors LLC Sells 8,883 Shares of ONEOK, Inc. $OKE

Prime Capital Investment Advisors LLC decreased its position in shares of ONEOK, Inc. (NYSE:OKE) by 13.8% in the 2nd quarter, Holdings Channel reports. The fund owned 55,433 shares of the utilities provider’s stock after selling 8,883 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in ONEOK were worth $4,525,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of ONEOK by 7.2% in 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 during the period. Nuveen LLC bought a new stake in ONEOK during the 1st quarter valued at $440,535,000. Boston Partners purchased a new position in shares of ONEOK in the first quarter valued at $353,596,000. Charles Schwab Investment Management Inc. grew its position in shares of 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 purchasing an additional 2,542,449 shares in the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of ONEOK by 51.9% during the 1st quarter. Wellington Management Group LLP now owns 6,388,987 shares of the utilities provider’s stock valued at $633,915,000 after purchasing an additional 2,182,081 shares during the period. 69.13% of the stock is currently owned by institutional investors.

ONEOK Trading Down 0.2%

NYSE OKE opened at $72.72 on Tuesday. The stock’s 50-day simple moving average is $74.50 and its two-hundred day simple moving average is $80.64. ONEOK, Inc. has a twelve month low of $70.63 and a twelve month high of $118.07. The company has a quick ratio of 0.46, a current ratio of 0.59 and a debt-to-equity ratio of 1.35. The company has a market capitalization of $45.80 billion, a price-to-earnings ratio of 14.18, a PEG ratio of 1.79 and a beta of 1.01.

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. 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 quarter in the prior year, the firm earned $1.33 earnings per share. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. Research analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Friday, August 1st were given a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 5.7%. The ex-dividend date was Friday, August 1st. ONEOK’s dividend payout ratio is presently 80.31%.

Analysts Set New Price Targets

OKE has been the subject of several analyst reports. JPMorgan Chase & Co. raised their target price on ONEOK from $94.00 to $97.00 and gave the stock an “overweight” rating in a research note on Thursday, July 3rd. Royal Bank Of Canada cut their price objective on shares of ONEOK from $94.00 to $88.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 13th. TD Cowen assumed coverage on shares of ONEOK in a report on Monday, July 7th. They set a “hold” rating and a $91.00 target price on the stock. Raymond James Financial reiterated an “outperform” rating on shares of ONEOK in a research note on Friday, August 1st. Finally, Mizuho reduced their price target on shares of ONEOK from $87.00 to $82.00 and set a “neutral” rating for the company in a research report on Friday, August 29th. 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 stock. According to data from MarketBeat, ONEOK has an average rating of “Moderate Buy” and a consensus target price of $99.00.

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.