Tradewinds Capital Management LLC Cuts Stock Holdings in ONEOK, Inc. $OKE

Tradewinds Capital Management LLC decreased its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 6.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,118 shares of the utilities provider’s stock after selling 540 shares during the quarter. Tradewinds Capital Management LLC’s holdings in ONEOK were worth $663,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of OKE. Brighton Jones LLC lifted its position in ONEOK by 137.1% in the 4th quarter. Brighton Jones LLC now owns 15,278 shares of the utilities provider’s stock worth $1,534,000 after buying an additional 8,834 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in ONEOK by 20.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 290,937 shares of the utilities provider’s stock worth $28,867,000 after buying an additional 50,272 shares during the last quarter. Ritholtz Wealth Management lifted its position in ONEOK by 50.2% in the 1st quarter. Ritholtz Wealth Management now owns 3,549 shares of the utilities provider’s stock worth $352,000 after buying an additional 1,186 shares during the last quarter. QRG Capital Management Inc. lifted its position in ONEOK by 5.4% in the 1st quarter. QRG Capital Management Inc. now owns 7,467 shares of the utilities provider’s stock worth $741,000 after buying an additional 384 shares during the last quarter. Finally, Insigneo Advisory Services LLC bought a new stake in ONEOK in the 1st quarter worth approximately $254,000. Institutional investors own 69.13% of the company’s stock.

ONEOK Stock Performance

Shares of OKE stock opened at $68.08 on Friday. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.46 and a current ratio of 0.59. The company has a market capitalization of $42.88 billion, a P/E ratio of 13.27, a PEG ratio of 1.64 and a beta of 1.01. The stock has a 50 day moving average price of $72.92 and a two-hundred day moving average price of $79.03. ONEOK, Inc. has a fifty-two week low of $66.56 and a fifty-two week high of $118.07.

ONEOK (NYSE:OKE) last announced its earnings results on Monday, August 4th. The utilities provider reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.01. The company had revenue of $8.21 billion during the quarter, compared to the consensus estimate of $7.20 billion. ONEOK had a return on equity of 14.90% and a net margin of 11.06%.During the same quarter in the prior year, the company earned $1.33 earnings per share. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. Analysts expect 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 will be paid on Friday, November 14th. Investors of record on Monday, November 3rd will be issued a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 6.1%. The ex-dividend date is Monday, November 3rd. ONEOK’s dividend payout ratio is currently 80.31%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on OKE. Morgan Stanley dropped their target price on ONEOK from $122.00 to $110.00 and set an “overweight” rating for the company in a research report on Tuesday, August 26th. Royal Bank Of Canada lowered their price objective on ONEOK from $94.00 to $88.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 13th. JPMorgan Chase & Co. boosted their price objective on ONEOK from $94.00 to $97.00 and gave the company an “overweight” rating in a research report on Thursday, July 3rd. TD Cowen started coverage on ONEOK in a research report on Monday, July 7th. They issued a “hold” rating and a $91.00 price objective for the company. Finally, The Goldman Sachs Group started coverage on ONEOK in a research report on Tuesday, September 30th. They issued a “neutral” rating and a $75.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, ONEOK currently has an average rating of “Moderate Buy” and an average price target of $98.27.

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.