ONEOK, Inc. $OKE Shares Sold by Amalgamated Bank

Amalgamated Bank cut its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 0.5% in the 2nd quarter, Holdings Channel reports. The fund owned 120,753 shares of the utilities provider’s stock after selling 553 shares during the period. Amalgamated Bank’s holdings in ONEOK were worth $9,857,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Atria Investments Inc lifted its position in shares of ONEOK by 17.2% during the second quarter. Atria Investments Inc now owns 34,928 shares of the utilities provider’s stock worth $2,851,000 after purchasing an additional 5,133 shares during the last quarter. Carret Asset Management LLC lifted its position in shares of ONEOK by 21.4% during the second quarter. Carret Asset Management LLC now owns 24,327 shares of the utilities provider’s stock worth $1,986,000 after purchasing an additional 4,291 shares during the last quarter. Retirement Systems of Alabama lifted its position in shares of ONEOK by 0.5% during the second quarter. Retirement Systems of Alabama now owns 134,034 shares of the utilities provider’s stock worth $10,941,000 after purchasing an additional 709 shares during the last quarter. Assetmark Inc. lifted its position in shares of ONEOK by 84.0% during the second quarter. Assetmark Inc. now owns 4,047 shares of the utilities provider’s stock worth $330,000 after purchasing an additional 1,848 shares during the last quarter. Finally, Premier Path Wealth Partners LLC lifted its position in shares of ONEOK by 13.9% during the second quarter. Premier Path Wealth Partners LLC now owns 6,306 shares of the utilities provider’s stock worth $515,000 after purchasing an additional 771 shares during the last quarter. Institutional investors own 69.13% of the company’s stock.

ONEOK Stock Performance

Shares of NYSE OKE opened at $66.70 on Friday. The company has a quick ratio of 0.46, a current ratio of 0.90 and a debt-to-equity ratio of 1.44. The firm’s 50-day moving average price is $71.96 and its two-hundred day moving average price is $78.00. ONEOK, Inc. has a 52-week low of $66.35 and a 52-week high of $118.07. The stock has a market capitalization of $42.00 billion, a P/E ratio of 12.26, a P/E/G ratio of 2.62 and a beta of 1.01.

ONEOK (NYSE:OKE) last issued its earnings results on Tuesday, October 28th. The utilities provider reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.48 by $0.01. The firm had revenue of $9.17 billion for the quarter, compared to analysts’ expectations of $8.23 billion. ONEOK had a net margin of 10.58% and a return on equity of 15.12%. During the same quarter last year, the company posted $1.18 earnings per share. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. As a group, sell-side analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Stockholders 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 6.2%. The ex-dividend date of this dividend is Monday, November 3rd. ONEOK’s payout ratio is 80.31%.

Analyst Ratings Changes

Several brokerages have recently commented on OKE. Wells Fargo & Company reduced their price target on shares of ONEOK from $90.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Thursday. Mizuho reduced their price target on shares of ONEOK from $87.00 to $82.00 and set a “neutral” rating on the stock in a research report on Friday, August 29th. TD Cowen reduced their price target on shares of ONEOK from $78.00 to $76.00 and set a “hold” rating on the stock in a research report on Thursday. Morgan Stanley cut their target price on shares of ONEOK from $122.00 to $110.00 and set an “overweight” rating on the stock in a report on Tuesday, August 26th. Finally, Raymond James Financial reissued an “outperform” rating and issued a $82.00 target price (down previously from $100.00) on shares of ONEOK in a report on Friday, October 24th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, ONEOK has a consensus rating of “Moderate Buy” and a consensus price target of $93.80.

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.