ONEOK, Inc. $OKE Shares Sold by Opal Wealth Advisors LLC

Opal Wealth Advisors LLC cut its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 39.6% in the second quarter, HoldingsChannel reports. The firm owned 676 shares of the utilities provider’s stock after selling 443 shares during the period. Opal Wealth Advisors LLC’s holdings in ONEOK were worth $55,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Marcum Wealth LLC lifted its position in ONEOK by 1.1% during the first quarter. Marcum Wealth LLC now owns 10,250 shares of the utilities provider’s stock valued at $1,017,000 after purchasing an additional 108 shares during the period. Presima Securities ULC lifted its position in 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 purchasing an additional 127 shares during the period. Morey & Quinn Wealth Partners LLC raised its position in shares of ONEOK by 0.8% in the first quarter. Morey & Quinn Wealth Partners LLC now owns 15,722 shares of the utilities provider’s stock worth $1,560,000 after acquiring an additional 130 shares during the period. Clearstead Trust LLC raised its position in shares of ONEOK by 5.0% in the first quarter. Clearstead Trust LLC now owns 2,792 shares of the utilities provider’s stock worth $277,000 after acquiring an additional 133 shares during the period. Finally, BankPlus Wealth Management LLC raised its position in shares of ONEOK by 2.8% in the first quarter. BankPlus Wealth Management LLC now owns 4,884 shares of the utilities provider’s stock worth $485,000 after acquiring an additional 134 shares during the period. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on OKE. Mizuho decreased their price objective on shares of ONEOK from $87.00 to $82.00 and set a “neutral” rating for the company in a research report on Friday, August 29th. JPMorgan Chase & Co. upped their price objective on shares of ONEOK from $94.00 to $97.00 and gave the stock an “overweight” rating in a research report on Thursday, July 3rd. Barclays set a $83.00 price objective on shares of ONEOK in a research report on Thursday, August 14th. Scotiabank set a $92.00 price objective on shares of ONEOK and gave the stock a “sector outperform” rating in a research report on Tuesday, July 15th. Finally, Raymond James Financial reiterated an “outperform” rating on shares of ONEOK in a research report on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, ONEOK currently has a consensus rating of “Moderate Buy” and an average price target of $100.60.

ONEOK Stock Up 1.5%

OKE opened at $73.72 on Thursday. ONEOK, Inc. has a twelve month low of $70.63 and a twelve month high of $118.07. The company has a quick ratio of 0.46, a current ratio of 0.59 and a debt-to-equity ratio of 1.35. The company has a 50-day moving average price of $75.88 and a 200 day moving average price of $82.15. The company has a market cap of $46.43 billion, a PE ratio of 14.37, a price-to-earnings-growth ratio of 1.78 and a beta of 1.04.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Monday, August 4th. The utilities provider reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.01. ONEOK had a net margin of 11.06% and a return on equity of 14.90%. The firm had revenue of $8.21 billion during the quarter, compared to the consensus estimate of $7.20 billion. During the same quarter in the prior year, the firm earned $1.33 EPS. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. Sell-side analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

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

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.