Segment Wealth Management LLC Sells 14,656 Shares of ONEOK, Inc. $OKE

Segment Wealth Management LLC lowered its stake in shares of ONEOK, Inc. (NYSE:OKE) by 33.8% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,714 shares of the utilities provider’s stock after selling 14,656 shares during the quarter. Segment Wealth Management LLC’s holdings in ONEOK were worth $2,095,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in OKE. Assetmark Inc. grew its stake in shares of ONEOK by 84.0% in the 2nd quarter. Assetmark Inc. now owns 4,047 shares of the utilities provider’s stock valued at $330,000 after purchasing an additional 1,848 shares during the period. Morningstar Investment Management LLC lifted its position in shares of ONEOK by 18.2% during the 2nd quarter. Morningstar Investment Management LLC now owns 27,375 shares of the utilities provider’s stock worth $2,235,000 after buying an additional 4,206 shares during the period. Meixler Investment Management Ltd. boosted its stake in ONEOK by 134.0% in the 2nd quarter. Meixler Investment Management Ltd. now owns 30,937 shares of the utilities provider’s stock valued at $2,525,000 after buying an additional 17,714 shares in the last quarter. Balefire LLC bought a new stake in ONEOK in the second quarter valued at $973,000. Finally, Dark Forest Capital Management LP raised its stake in ONEOK by 409.5% during the first quarter. Dark Forest Capital Management LP now owns 40,372 shares of the utilities provider’s stock worth $4,006,000 after acquiring an additional 32,448 shares in the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on OKE shares. TD Cowen cut their price objective on ONEOK from $78.00 to $76.00 and set a “hold” rating for the company in a report on Thursday, October 30th. Wells Fargo & Company dropped their target price on shares of ONEOK from $90.00 to $82.00 and set an “equal weight” rating for the company in a research report on Thursday, October 30th. The Goldman Sachs Group reissued a “neutral” rating and set a $72.00 price target on shares of ONEOK in a report on Monday, November 3rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ONEOK in a research note on Monday, December 22nd. Finally, Scotiabank dropped their price objective on shares of ONEOK from $88.00 to $87.00 and set a “sector outperform” rating for the company in a report on Tuesday, November 4th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $88.00.

Insiders Place Their Bets

In other news, Director Brian L. Derksen acquired 2,500 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The stock was purchased at an average price of $66.00 per share, for a total transaction of $165,000.00. Following the completion of the acquisition, the director owned 21,200 shares in the company, valued at $1,399,200. This trade represents a 13.37% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.20% of the stock is owned by insiders.

ONEOK Stock Up 1.1%

Shares of OKE opened at $73.63 on Tuesday. The business’s fifty day moving average price is $70.86 and its two-hundred day moving average price is $74.42. The firm has a market capitalization of $46.33 billion, a price-to-earnings ratio of 13.53, a PEG ratio of 4.45 and a beta of 0.95. ONEOK, Inc. has a 52 week low of $64.02 and a 52 week high of $111.02. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.75 and a current ratio of 0.90.

ONEOK (NYSE:OKE) last released its quarterly earnings data on Tuesday, October 28th. The utilities provider reported $1.49 EPS for the quarter, beating analysts’ consensus estimates of $1.48 by $0.01. ONEOK had a return on equity of 15.12% and a net margin of 10.58%.The business had revenue of $8.63 billion during the quarter, compared to the consensus estimate of $8.23 billion. During the same quarter in the prior year, the company posted $1.18 earnings per share. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. On average, analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Monday, November 3rd were given a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date was Monday, November 3rd. ONEOK’s dividend payout ratio (DPR) is currently 75.74%.

About ONEOK

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.