Principal Financial Group Inc. Sells 17,650 Shares of ONEOK, Inc. $OKE

Principal Financial Group Inc. decreased its holdings in ONEOK, Inc. (NYSE:OKE) by 2.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 784,121 shares of the utilities provider’s stock after selling 17,650 shares during the quarter. Principal Financial Group Inc. owned about 0.12% of ONEOK worth $70,877,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Zions Bancorporation National Association UT boosted its stake in shares of ONEOK by 73.3% during the 4th quarter. Zions Bancorporation National Association UT now owns 338 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 143 shares in the last quarter. Elyxium Wealth LLC bought a new position in ONEOK in the fourth quarter worth about $29,000. Cornerstone Financial Management LLC purchased a new stake in ONEOK in the fourth quarter worth about $29,000. SRH Advisors LLC boosted its position in ONEOK by 122.3% during the 4th quarter. SRH Advisors LLC now owns 438 shares of the utilities provider’s stock valued at $32,000 after acquiring an additional 241 shares in the last quarter. Finally, Portus Wealth Advisors LLC bought a new stake in ONEOK during the 1st quarter valued at approximately $33,000. 69.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on OKE shares. Freedom Capital raised ONEOK from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 5th. Weiss Ratings raised ONEOK from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, May 18th. Scotiabank downgraded ONEOK from a “sector outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $92.00 to $89.00 in a report on Thursday, April 30th. TD Cowen boosted their target price on shares of ONEOK from $85.00 to $90.00 and gave the company a “hold” rating in a report on Thursday. Finally, Wells Fargo & Company reduced their target price on shares of ONEOK from $100.00 to $98.00 and set an “overweight” rating on the stock in a research report on Thursday, April 30th. Eight research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat, ONEOK has a consensus rating of “Hold” and a consensus price target of $92.06.

ONEOK Stock Performance

ONEOK stock opened at $92.86 on Friday. ONEOK, Inc. has a twelve month low of $64.02 and a twelve month high of $96.07. The company has a quick ratio of 0.56, a current ratio of 0.71 and a debt-to-equity ratio of 1.37. The company has a market capitalization of $58.52 billion, a P/E ratio of 16.55, a PEG ratio of 6.80 and a beta of 0.73. The stock’s 50 day moving average is $89.01 and its 200 day moving average is $85.24.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Tuesday, April 28th. The utilities provider reported $1.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.07). ONEOK had a net margin of 10.03% and a return on equity of 16.06%. The company had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $8.23 billion. During the same quarter in the previous year, the firm posted $1.04 EPS. ONEOK has set its FY 2026 guidance at 5.530-5.530 EPS. On average, equities research analysts predict that ONEOK, Inc. will post 5.72 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Monday, August 3rd will be given a $1.07 dividend. This represents a $4.28 annualized dividend and a dividend yield of 4.6%. The ex-dividend date of this dividend is Monday, August 3rd. ONEOK’s payout ratio is currently 76.29%.

ONEOK Company Profile

ONEOK, Inc (NYSE: OKE) is a publicly traded midstream energy company headquartered in Tulsa, Oklahoma. The company owns and operates a portfolio of natural gas and natural gas liquids (NGL) pipelines, processing facilities, fractionators and storage and terminal assets. Its operations are focused on gathering, processing, transporting, fractionating and marketing NGLs and interstate natural gas, providing critical infrastructure that connects hydrocarbon production to refineries, petrochemical plants and other end markets.

ONEOK’s asset base includes pipeline systems and processing plants that move and condition natural gas, along with infrastructure for the transportation, storage and fractionation of NGLs such as ethane, propane and butane.