Socorro Asset Management LP Lowers Stock Position in ONEOK, Inc. $OKE

Socorro Asset Management LP trimmed its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 13.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 76,179 shares of the utilities provider’s stock after selling 11,909 shares during the quarter. ONEOK makes up approximately 3.1% of Socorro Asset Management LP’s investment portfolio, making the stock its 17th biggest holding. Socorro Asset Management LP’s holdings in ONEOK were worth $6,886,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Aberdeen Group plc boosted its stake in ONEOK by 46.0% in the fourth quarter. Aberdeen Group plc now owns 957,663 shares of the utilities provider’s stock valued at $70,388,000 after acquiring an additional 301,654 shares in the last quarter. Swiss Life Asset Management Ltd increased its position in shares of ONEOK by 219.5% during the fourth quarter. Swiss Life Asset Management Ltd now owns 1,522,404 shares of the utilities provider’s stock worth $111,897,000 after purchasing an additional 1,045,976 shares in the last quarter. Triune Financial Partners LLC purchased a new stake in shares of ONEOK during the 4th quarter valued at $1,151,000. Royal Fund Management LLC boosted its position in shares of ONEOK by 40.8% in the 4th quarter. Royal Fund Management LLC now owns 80,383 shares of the utilities provider’s stock worth $5,907,000 after purchasing an additional 23,281 shares in the last quarter. Finally, Castle Rock Wealth Management LLC boosted its position in shares of ONEOK by 360.0% in the 4th quarter. Castle Rock Wealth Management LLC now owns 36,216 shares of the utilities provider’s stock worth $2,815,000 after purchasing an additional 28,343 shares in the last quarter. Institutional investors own 69.13% of the company’s stock.

ONEOK Price Performance

Shares of NYSE OKE opened at $89.44 on Tuesday. The stock has a market capitalization of $56.36 billion, a price-to-earnings ratio of 15.94, a PEG ratio of 5.01 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 simple moving average is $89.40 and its 200-day simple moving average is $86.18. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.71 and a quick ratio of 0.56.

ONEOK (NYSE:OKE) last released its quarterly earnings data on Tuesday, April 28th. The utilities provider reported $1.23 earnings per share for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.07). The firm had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $8.23 billion. ONEOK had a net margin of 10.03% and a return on equity of 16.06%. During the same period in the previous year, the firm posted $1.04 EPS. Analysts expect that ONEOK, Inc. will post 5.68 EPS for the current year.

ONEOK Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Monday, August 3rd will be given a dividend of $1.07 per share. The ex-dividend date is Monday, August 3rd. This represents a $4.28 dividend on an annualized basis and a yield of 4.8%. ONEOK’s dividend payout ratio is currently 76.29%.

Analysts Set New Price Targets

OKE has been the topic of several recent analyst reports. Jefferies Financial Group upped their target price on ONEOK from $98.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, April 8th. Wall Street Zen raised ONEOK from a “sell” rating to a “hold” rating in a report on Tuesday, May 26th. Scotiabank downgraded shares of ONEOK from a “sector outperform” rating to a “sector perform” rating and cut their price objective for the company from $92.00 to $89.00 in a report on Thursday, April 30th. Wells Fargo & Company decreased their price objective on shares of ONEOK from $100.00 to $98.00 and set an “overweight” rating for the company in a research report on Thursday, April 30th. Finally, TD Cowen lifted their target price on shares of ONEOK from $85.00 to $90.00 and gave the stock a “hold” rating in a research note on Thursday, July 16th. Eight analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, ONEOK has a consensus rating of “Hold” and a consensus price target of $92.44.

Trending Headlines about ONEOK

Here are the key news stories impacting ONEOK this week:

• Positive Sentiment: ONEOK remains positioned to benefit from long-term midstream trends, including rising LNG exports and growing power demand from data centers. Its shareholder-return profile also keeps it on the radar of income-focused investors. 3 Midstream Stocks Paying You While You Wait for July to End
• Positive Sentiment: A Zacks feature identifies OKE as a potential long-term growth stock based on its style-score characteristics, supporting the longer-term investment case despite near-term volatility. Why ONEOK Is a Top Growth Stock for the Long-Term
• Neutral Sentiment: Analysts maintain a consensus “Hold” rating, indicating limited conviction that current valuation offers a clear catalyst for an immediate move higher. ONEOK Given Consensus Rating of Hold
• Negative Sentiment: Near-term earnings expectations are weighing on sentiment. Zacks says ONEOK lacks the two key indicators typically associated with a likely earnings beat in its upcoming report, raising the risk of a disappointing announcement. ONEOK Earnings Expected to Grow
• Negative Sentiment: The latest decline follows an earlier quarterly EPS miss: ONEOK reported $1.23 per share versus the $1.30 consensus, despite revenue exceeding estimates. That history may be making investors more cautious ahead of the next results.

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.