Envestnet Portfolio Solutions Inc. Trims Stock Holdings in ONEOK, Inc. $OKE

Envestnet Portfolio Solutions Inc. lowered its position in ONEOK, Inc. (NYSE:OKE) by 35.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,713 shares of the utilities provider’s stock after selling 2,621 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in ONEOK were worth $385,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in OKE. Vanguard Group Inc. lifted its stake in ONEOK by 7.2% in the first quarter. Vanguard Group Inc. now owns 75,196,969 shares of the utilities provider’s stock valued at $7,461,043,000 after buying an additional 5,076,705 shares during the last quarter. Nuveen LLC purchased a new stake in ONEOK in the first quarter valued at approximately $440,535,000. Boston Partners purchased a new stake in ONEOK in the first quarter valued at approximately $353,596,000. Charles Schwab Investment Management Inc. lifted its stake in ONEOK by 13.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 20,957,230 shares of the utilities provider’s stock valued at $2,079,376,000 after buying an additional 2,542,449 shares during the last quarter. Finally, Wellington Management Group LLP lifted its stake in ONEOK by 51.9% in the first quarter. Wellington Management Group LLP now owns 6,388,987 shares of the utilities provider’s stock valued at $633,915,000 after buying an additional 2,182,081 shares during the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Trading Up 0.9%

Shares of OKE stock opened at $69.57 on Thursday. The business’s fifty day moving average price is $72.60 and its 200 day moving average price is $78.57. ONEOK, Inc. has a 1-year low of $66.56 and a 1-year high of $118.07. The firm has a market capitalization of $43.81 billion, a PE ratio of 13.56, a P/E/G ratio of 1.69 and a beta of 1.01. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.59 and a quick ratio of 0.46.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Monday, August 4th. The utilities provider reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.33 by $0.01. The firm had revenue of $8.21 billion for the quarter, compared to analyst estimates 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 posted $1.33 earnings per share. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. As a group, sell-side analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Monday, November 3rd will be given a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 5.9%. The ex-dividend date is Monday, November 3rd. ONEOK’s payout ratio is presently 80.31%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on OKE. Raymond James Financial reissued an “outperform” rating on shares of ONEOK in a report on Friday, August 1st. Weiss Ratings reissued a “hold (c+)” rating on shares of ONEOK in a report on Wednesday, October 8th. TD Cowen began coverage on ONEOK in a report on Monday, July 7th. They issued a “hold” rating and a $91.00 target price on the stock. Royal Bank Of Canada dropped their target price on ONEOK from $94.00 to $88.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 13th. Finally, Morgan Stanley dropped their target price on ONEOK from $122.00 to $110.00 and set an “overweight” rating on the stock in a report on Tuesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $98.27.

About ONEOK

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.