Magnolia Capital Management Ltd. Sells 466 Shares of ONEOK, Inc. $OKE

Magnolia Capital Management Ltd. cut its position in shares of ONEOK, Inc. (NYSE:OKE) by 11.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,516 shares of the utilities provider’s stock after selling 466 shares during the quarter. Magnolia Capital Management Ltd.’s holdings in ONEOK were worth $287,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of OKE. Vanguard Group Inc. boosted its holdings in ONEOK by 7.2% during 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 acquiring an additional 5,076,705 shares during the period. Nuveen LLC purchased a new stake in ONEOK during the 1st quarter valued at about $440,535,000. Boston Partners purchased a new stake in ONEOK during the 1st quarter valued at about $353,596,000. Charles Schwab Investment Management Inc. boosted its holdings in ONEOK by 13.8% during the 1st 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 acquiring an additional 2,542,449 shares during the period. Finally, Wellington Management Group LLP boosted its holdings in 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 acquiring an additional 2,182,081 shares during the period. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

OKE has been the subject of several research analyst reports. Scotiabank set a $92.00 price objective on ONEOK and gave the stock a “sector outperform” rating in a report on Tuesday, July 15th. Royal Bank Of Canada dropped their price objective on ONEOK from $94.00 to $88.00 and set a “sector perform” rating for the company in a report on Wednesday, August 13th. Morgan Stanley dropped their price objective on ONEOK from $122.00 to $110.00 and set an “overweight” rating for the company in a report on Tuesday, August 26th. Barclays set a $83.00 price objective on ONEOK in a report on Thursday, August 14th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of ONEOK in a report on Saturday, September 27th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $99.00.

ONEOK Stock Down 0.4%

Shares of NYSE:OKE opened at $72.42 on Wednesday. ONEOK, Inc. has a 52-week low of $70.63 and a 52-week high of $118.07. The firm has a market capitalization of $45.61 billion, a P/E ratio of 14.12, a P/E/G ratio of 1.79 and a beta of 1.01. The stock has a 50 day moving average price of $74.28 and a 200-day moving average price of $80.59. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.46 and a current ratio of 0.59.

ONEOK (NYSE:OKE) last announced 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. ONEOK had a return on equity of 14.90% and a net margin of 11.06%.The firm had revenue of $8.21 billion during the quarter, compared to analyst estimates of $7.20 billion. During the same quarter in the prior year, the company earned $1.33 EPS. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. As a group, equities research analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Dividend Announcement

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

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.