Norden Group LLC Reduces Holdings in ONEOK, Inc. $OKE

Norden Group LLC lowered its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 2.2% in the second quarter, HoldingsChannel.com reports. The fund owned 9,352 shares of the utilities provider’s stock after selling 213 shares during the quarter. Norden Group LLC’s holdings in ONEOK were worth $763,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Marcum Wealth LLC grew its holdings in ONEOK by 1.1% during the 1st quarter. Marcum Wealth LLC now owns 10,250 shares of the utilities provider’s stock valued at $1,017,000 after buying an additional 108 shares during the last quarter. Presima Securities ULC boosted its stake in shares of ONEOK by 1.4% during the first quarter. Presima Securities ULC now owns 9,477 shares of the utilities provider’s stock valued at $940,000 after acquiring an additional 127 shares during the last quarter. Morey & Quinn Wealth Partners LLC increased its position in ONEOK by 0.8% during the 1st quarter. Morey & Quinn Wealth Partners LLC now owns 15,722 shares of the utilities provider’s stock worth $1,560,000 after purchasing an additional 130 shares in the last quarter. Clearstead Trust LLC raised its stake in ONEOK by 5.0% in the 1st quarter. Clearstead Trust LLC now owns 2,792 shares of the utilities provider’s stock valued at $277,000 after purchasing an additional 133 shares during the last quarter. Finally, BankPlus Wealth Management LLC lifted its holdings in ONEOK by 2.8% in the 1st quarter. BankPlus Wealth Management LLC now owns 4,884 shares of the utilities provider’s stock valued at $485,000 after purchasing an additional 134 shares in the last quarter. 69.13% of the stock is currently owned by institutional investors and hedge funds.

ONEOK Trading Down 0.2%

Shares of OKE stock opened at $73.49 on Friday. The stock has a market cap of $46.28 billion, a price-to-earnings ratio of 14.33, a price-to-earnings-growth ratio of 1.81 and a beta of 1.04. 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, Inc. has a fifty-two week low of $70.63 and a fifty-two week high of $118.07. The firm’s 50 day moving average price is $75.72 and its two-hundred day moving average price is $82.02.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Monday, August 4th. The utilities provider reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.33 by $0.01. The firm 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 period in the previous year, the company posted $1.33 earnings per share. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. On average, analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Friday, August 1st were given a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 5.6%. The ex-dividend date of this dividend was Friday, August 1st. ONEOK’s payout ratio is 80.31%.

Wall Street Analyst Weigh In

OKE has been the subject of a number of recent research reports. Barclays set a $83.00 price target on shares of ONEOK in a report on Thursday, August 14th. Royal Bank Of Canada cut their price target on ONEOK from $94.00 to $88.00 and set a “sector perform” rating for the company in a report on Wednesday, August 13th. Mizuho reduced their price target on ONEOK from $87.00 to $82.00 and set a “neutral” rating on the stock in a research note on Friday, August 29th. Morgan Stanley lowered their price objective on ONEOK from $122.00 to $110.00 and set an “overweight” rating for the company in a research report on Tuesday, August 26th. Finally, Scotiabank set a $92.00 target price on ONEOK and gave the stock a “sector outperform” rating in a research report on Tuesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $100.60.

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.