Harmony Asset Management LLC Cuts Stake in ONEOK, Inc. $OKE

Harmony Asset Management LLC reduced its stake in shares of ONEOK, Inc. (NYSE:OKE) by 47.2% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 15,991 shares of the utilities provider’s stock after selling 14,293 shares during the period. Harmony Asset Management LLC’s holdings in ONEOK were worth $1,175,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Winnow Wealth LLC purchased a new stake in ONEOK during the 3rd quarter valued at approximately $28,000. Elyxium Wealth LLC purchased a new stake in ONEOK during the 4th quarter valued at approximately $29,000. SRH Advisors LLC grew its holdings in ONEOK by 122.3% during the 4th quarter. SRH Advisors LLC now owns 438 shares of the utilities provider’s stock valued at $32,000 after buying an additional 241 shares in the last quarter. AXS Investments LLC purchased a new stake in ONEOK during the 3rd quarter valued at approximately $35,000. Finally, Accredited Wealth Management LLC grew its holdings in ONEOK by 342.5% during the 3rd quarter. Accredited Wealth Management LLC now owns 500 shares of the utilities provider’s stock valued at $36,000 after buying an additional 387 shares in the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on OKE shares. Weiss Ratings raised shares of ONEOK from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday. Truist Financial increased their price objective on shares of ONEOK from $91.00 to $93.00 and gave the company a “hold” rating in a report on Monday, May 4th. TD Cowen increased their price objective on shares of ONEOK from $80.00 to $85.00 and gave the company a “hold” rating in a report on Thursday, April 30th. Morgan Stanley increased their target price on ONEOK from $104.00 to $113.00 and gave the company an “overweight” rating in a research report on Tuesday, April 7th. Finally, Scotiabank downgraded ONEOK from a “sector outperform” rating to a “sector perform” rating and lowered their target price for the company from $92.00 to $89.00 in a research report on Thursday, April 30th. Eight analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $91.88.

ONEOK Stock Down 3.3%

NYSE OKE opened at $92.13 on Thursday. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.56 and a current ratio of 0.71. The company has a market capitalization of $58.04 billion, a P/E ratio of 16.42, a P/E/G ratio of 6.92 and a beta of 0.78. ONEOK, Inc. has a one year low of $64.02 and a one year high of $96.07. The stock has a 50 day moving average price of $88.22 and a 200-day moving average price of $80.20.

ONEOK (NYSE:OKE) last posted its earnings results on Tuesday, April 28th. The utilities provider reported $1.23 EPS for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.07). The firm had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $8.23 billion. ONEOK had a net margin of 10.03% and a return on equity of 16.06%. During the same quarter in the prior year, the company posted $1.04 earnings per share. ONEOK has set its FY 2026 guidance at 5.530-5.530 EPS. As a group, equities analysts predict that ONEOK, Inc. will post 5.76 EPS for the current fiscal year.

ONEOK Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Monday, May 4th were given a $1.07 dividend. The ex-dividend date was Monday, May 4th. This represents a $4.28 dividend on an annualized basis and a yield of 4.6%. ONEOK’s dividend payout ratio (DPR) is currently 76.29%.

ONEOK 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.