Janney Montgomery Scott LLC Lowers Position in ONEOK, Inc. $OKE

Janney Montgomery Scott LLC decreased its stake in shares of ONEOK, Inc. (NYSE:OKE) by 7.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 145,349 shares of the utilities provider’s stock after selling 12,192 shares during the quarter. Janney Montgomery Scott LLC’s holdings in ONEOK were worth $11,865,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Presima Securities ULC raised its stake 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 buying an additional 127 shares during the last quarter. Morey & Quinn Wealth Partners LLC raised its stake in ONEOK by 0.8% during the first quarter. Morey & Quinn Wealth Partners LLC now owns 15,722 shares of the utilities provider’s stock valued at $1,560,000 after buying an additional 130 shares during the last quarter. Clearstead Trust LLC raised its stake in ONEOK by 5.0% during the first quarter. Clearstead Trust LLC now owns 2,792 shares of the utilities provider’s stock valued at $277,000 after buying an additional 133 shares during the last quarter. BankPlus Wealth Management LLC raised its stake in ONEOK by 2.8% during the first quarter. BankPlus Wealth Management LLC now owns 4,884 shares of the utilities provider’s stock valued at $485,000 after buying an additional 134 shares during the last quarter. Finally, Capital Investment Advisory Services LLC raised its stake in ONEOK by 4.5% during the first quarter. Capital Investment Advisory Services LLC now owns 3,132 shares of the utilities provider’s stock valued at $311,000 after buying an additional 134 shares during the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Stock Performance

Shares of OKE opened at $72.88 on Friday. 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, Inc. has a one year low of $70.63 and a one year high of $118.07. The firm has a market capitalization of $45.89 billion, a P/E ratio of 14.21, a PEG ratio of 1.78 and a beta of 1.01. The business has a fifty day moving average of $74.69 and a 200 day moving average of $81.10.

ONEOK (NYSE:OKE) last issued its quarterly earnings data on Monday, August 4th. The utilities provider reported $1.34 EPS for the quarter, topping the consensus estimate of $1.33 by $0.01. ONEOK had a return on equity of 14.90% and a net margin of 11.06%.The company had revenue of $8.21 billion during the quarter, compared to analyst estimates of $7.20 billion. During the same quarter in the previous 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 anticipate that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Friday, August 1st were issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 5.7%. The ex-dividend date of this dividend was Friday, August 1st. ONEOK’s payout ratio is currently 80.31%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on OKE. The Goldman Sachs Group began coverage on ONEOK in a research note on Tuesday. They set a “neutral” rating and a $75.00 price objective for the company. Scotiabank set a $92.00 price target on ONEOK and gave the stock a “sector outperform” rating in a research note on Tuesday, July 15th. Weiss Ratings restated a “hold (c+)” rating on shares of ONEOK in a research note on Saturday, September 27th. Barclays set a $83.00 price target on ONEOK in a research note on Thursday, August 14th. Finally, Morgan Stanley decreased their price target on ONEOK from $122.00 to $110.00 and set an “overweight” rating for the company in a research note on Tuesday, August 26th. 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 MarketBeat.com, ONEOK has a consensus rating of “Moderate Buy” and an average target price of $99.00.

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.