JFG Wealth Management LLC Sells 3,445 Shares of ONEOK, Inc. $OKE

JFG Wealth Management LLC lessened its stake in ONEOK, Inc. (NYSE:OKE) by 50.0% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,445 shares of the utilities provider’s stock after selling 3,445 shares during the quarter. JFG Wealth Management LLC’s holdings in ONEOK were worth $281,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Access Investment Management LLC bought a new stake in ONEOK during the second quarter worth $33,000. Financial Network Wealth Advisors LLC boosted its holdings in ONEOK by 2,466.7% during the 1st quarter. Financial Network Wealth Advisors LLC now owns 385 shares of the utilities provider’s stock worth $38,000 after acquiring an additional 370 shares during the last quarter. Trust Co. of Toledo NA OH purchased a new position in ONEOK during the 2nd quarter worth $42,000. Cheviot Value Management LLC bought a new stake in shares of ONEOK in the 1st quarter worth $46,000. Finally, CNB Bank purchased a new stake in shares of ONEOK in the second quarter valued at about $51,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on OKE. Argus raised shares of ONEOK from a “hold” rating to a “buy” rating and set a $79.00 price target on the stock in a research report on Thursday, November 6th. Weiss Ratings reiterated a “hold (c+)” rating on shares of ONEOK in a research note on Wednesday, October 8th. Morgan Stanley cut their target price on ONEOK from $122.00 to $110.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 26th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $72.00 price target on shares of ONEOK in a research report on Monday, November 3rd. Finally, Mizuho dropped their price target on ONEOK from $87.00 to $82.00 and set a “neutral” rating on the stock in a report on Friday, August 29th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have issued 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 $91.94.

ONEOK Stock Performance

NYSE OKE opened at $69.09 on Wednesday. ONEOK, Inc. has a 1 year low of $64.02 and a 1 year high of $118.07. The company has a debt-to-equity ratio of 1.44, a current ratio of 0.90 and a quick ratio of 0.46. The stock has a market capitalization of $43.47 billion, a PE ratio of 12.70, a P/E/G ratio of 2.62 and a beta of 1.05. The company’s 50 day simple moving average is $70.64 and its two-hundred day simple moving average is $76.90.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Tuesday, October 28th. The utilities provider reported $1.49 EPS for the quarter, beating analysts’ consensus estimates of $1.48 by $0.01. The firm had revenue of $9.17 billion during the quarter, compared to analyst estimates of $8.23 billion. ONEOK had a net margin of 10.58% and a return on equity of 15.12%. During the same period in the previous year, the business earned $1.18 EPS. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. Analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Monday, November 3rd will be given a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 6.0%. The ex-dividend date is Monday, November 3rd. ONEOK’s payout ratio is presently 75.74%.

Insiders Place Their Bets

In other ONEOK news, Director Brian L. Derksen bought 2,500 shares of the firm’s stock in a transaction on Monday, November 3rd. The shares were acquired at an average cost of $66.00 per share, for a total transaction of $165,000.00. Following the purchase, the director directly owned 21,200 shares of the company’s stock, valued at $1,399,200. The trade was a 13.37% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.21% of the stock is owned by corporate insiders.

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.