Penobscot Investment Management Company Inc. Lowers Holdings in ONEOK, Inc. $OKE

Penobscot Investment Management Company Inc. cut its position in ONEOK, Inc. (NYSE:OKE) by 1.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,347 shares of the utilities provider’s stock after selling 450 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in ONEOK were worth $2,885,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. First Pacific Financial purchased a new stake in ONEOK in the 1st quarter worth approximately $34,000. Financial Network Wealth Advisors LLC lifted its stake in ONEOK by 2,466.7% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 385 shares of the utilities provider’s stock worth $38,000 after purchasing an additional 370 shares in the last quarter. MorganRosel Wealth Management LLC purchased a new stake in ONEOK in the 1st quarter worth approximately $39,000. Financial Gravity Asset Management Inc. purchased a new stake in ONEOK in the 1st quarter worth approximately $40,000. Finally, Rakuten Securities Inc. lifted its stake in ONEOK by 152.1% in the 1st quarter. Rakuten Securities Inc. now owns 421 shares of the utilities provider’s stock worth $42,000 after purchasing an additional 254 shares in the last quarter. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on OKE shares. Morgan Stanley lowered their price objective on shares of ONEOK from $122.00 to $110.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 26th. Mizuho lowered 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. TD Cowen started coverage on shares of ONEOK in a research report on Monday, July 7th. They set a “hold” rating and a $91.00 price objective on the stock. Barclays set a $83.00 price objective on shares of ONEOK in a research report on Thursday, August 14th. Finally, The Goldman Sachs Group started coverage on shares of ONEOK in a research report on Tuesday. They set a “neutral” rating and a $75.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $99.00.

ONEOK Price Performance

Shares of NYSE:OKE opened at $72.88 on Friday. The stock has a market cap of $45.89 billion, a PE ratio of 14.21, a PEG ratio of 1.78 and a beta of 1.01. The company’s fifty day moving average is $74.69 and its 200 day moving average 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 quick ratio of 0.46, a current ratio of 0.59 and a debt-to-equity ratio of 1.35.

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

ONEOK Dividend Announcement

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

ONEOK 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.