Principal Financial Group Inc. Sells 21,412 Shares of ONEOK, Inc. $OKE

Principal Financial Group Inc. lessened its stake in shares of ONEOK, Inc. (NYSE:OKE) by 2.7% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 762,709 shares of the utilities provider’s stock after selling 21,412 shares during the quarter. Principal Financial Group Inc.’s holdings in ONEOK were worth $66,310,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of OKE. Clearstead Trust LLC increased its position in ONEOK by 4.7% during the first quarter. Clearstead Trust LLC now owns 2,632 shares of the utilities provider’s stock valued at $238,000 after acquiring an additional 117 shares during the last quarter. Hoxton Planning & Management LLC raised its stake in shares of ONEOK by 2.3% in the fourth quarter. Hoxton Planning & Management LLC now owns 5,372 shares of the utilities provider’s stock valued at $395,000 after acquiring an additional 120 shares during the period. Welch Group LLC lifted its holdings in shares of ONEOK by 0.8% in the 1st quarter. Welch Group LLC now owns 14,859 shares of the utilities provider’s stock worth $1,343,000 after acquiring an additional 122 shares during the last quarter. Pine Valley Investments Ltd Liability Co lifted its holdings in shares of ONEOK by 0.5% in the 1st quarter. Pine Valley Investments Ltd Liability Co now owns 26,261 shares of the utilities provider’s stock worth $2,374,000 after acquiring an additional 122 shares during the last quarter. Finally, FAS Wealth Partners Inc. boosted its stake in shares of ONEOK by 2.1% during the 1st quarter. FAS Wealth Partners Inc. now owns 6,057 shares of the utilities provider’s stock worth $548,000 after purchasing an additional 123 shares during the period. 69.13% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Citigroup upped their price target on shares of ONEOK from $95.00 to $97.00 and gave the company a “buy” rating in a report on Thursday, May 7th. JPMorgan Chase & Co. raised their price objective on shares of ONEOK from $91.00 to $92.00 and gave the stock a “neutral” rating in a research note on Friday, May 8th. Weiss Ratings upgraded ONEOK from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, May 18th. Barclays cut their target price on ONEOK from $90.00 to $88.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 8th. Finally, Freedom Capital raised ONEOK from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, ONEOK currently has a consensus rating of “Moderate Buy” and an average target price of $91.81.

ONEOK Trading Up 2.5%

OKE stock opened at $94.99 on Friday. The company has a market capitalization of $59.88 billion, a PE ratio of 16.38, a P/E/G ratio of 4.83 and a beta of 0.73. ONEOK, Inc. has a 12 month low of $64.02 and a 12 month high of $96.07. The firm’s 50-day moving average is $89.48 and its 200 day moving average is $87.61. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.74 and a quick ratio of 0.59.

ONEOK (NYSE:OKE) last released its quarterly earnings data on Monday, August 3rd. The utilities provider reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.07. The company had revenue of $12.05 billion during the quarter, compared to analysts’ expectations of $8.95 billion. ONEOK had a net margin of 9.29% and a return on equity of 16.41%. During the same period in the previous year, the company earned $1.34 EPS. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. On average, research analysts anticipate that ONEOK, Inc. will post 5.87 EPS for the current year.

ONEOK Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Monday, August 3rd were issued a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a yield of 4.5%. The ex-dividend date was Monday, August 3rd. ONEOK’s dividend payout ratio (DPR) is presently 73.79%.

ONEOK 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.