ONEOK, Inc. $OKE Stock Holdings Trimmed by AMJ Financial Wealth Management

AMJ Financial Wealth Management lowered its position in shares of ONEOK, Inc. (NYSE:OKE) by 31.4% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 31,955 shares of the utilities provider’s stock after selling 14,615 shares during the quarter. AMJ Financial Wealth Management’s holdings in ONEOK were worth $2,608,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Bogart Wealth LLC lifted its stake in ONEOK by 3.1% during the second quarter. Bogart Wealth LLC now owns 4,031 shares of the utilities provider’s stock worth $329,000 after purchasing an additional 122 shares during the last quarter. Presima Securities ULC raised its holdings in shares of ONEOK by 1.4% during the first quarter. Presima Securities ULC now owns 9,477 shares of the utilities provider’s stock worth $940,000 after purchasing an additional 127 shares during the period. Clearstead Trust LLC lifted its position in shares of ONEOK by 5.0% in the 1st quarter. Clearstead Trust LLC now owns 2,792 shares of the utilities provider’s stock worth $277,000 after buying an additional 133 shares during the last quarter. Empowered Funds LLC boosted its holdings in shares of ONEOK by 0.8% in the 1st quarter. Empowered Funds LLC now owns 17,957 shares of the utilities provider’s stock valued at $1,782,000 after buying an additional 137 shares during the period. Finally, MJT & Associates Financial Advisory Group Inc. grew its position in shares of ONEOK by 5.8% during the 2nd quarter. MJT & Associates Financial Advisory Group Inc. now owns 2,540 shares of the utilities provider’s stock valued at $207,000 after buying an additional 140 shares during the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on OKE shares. Barclays decreased their target price on ONEOK from $83.00 to $78.00 and set an “equal weight” rating for the company in a research note on Thursday, October 9th. Raymond James Financial restated an “outperform” rating and set a $82.00 price objective (down from $100.00) on shares of ONEOK in a research note on Friday, October 24th. Citigroup dropped their target price on ONEOK from $102.00 to $95.00 and set a “buy” rating on the stock in a research report on Friday, October 31st. TD Cowen reduced their price target on shares of ONEOK from $78.00 to $76.00 and set a “hold” rating for the company in a report on Thursday, October 30th. Finally, Mizuho lowered their price target 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. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $89.27.

ONEOK Stock Performance

OKE opened at $73.64 on Tuesday. The business has a 50 day moving average price of $70.00 and a two-hundred day moving average price of $75.61. 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 company has a market capitalization of $46.34 billion, a price-to-earnings ratio of 13.54, a price-to-earnings-growth ratio of 2.62 and a beta of 1.05. ONEOK, Inc. has a 1-year low of $64.02 and a 1-year high of $113.63.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Tuesday, October 28th. The utilities provider reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.48 by $0.01. The company had revenue of $8.63 billion for the quarter, compared to the consensus estimate of $8.23 billion. ONEOK had a return on equity of 15.12% and a net margin of 10.58%.During the same quarter in the previous year, the business earned $1.18 EPS. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. Research analysts predict that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Monday, November 3rd were paid a dividend of $1.03 per share. The ex-dividend date of this dividend was Monday, November 3rd. This represents a $4.12 annualized dividend and a yield of 5.6%. ONEOK’s dividend payout ratio is currently 75.74%.

Insiders Place Their Bets

In other ONEOK news, Director Brian L. Derksen purchased 2,500 shares of the firm’s stock in a transaction on Monday, November 3rd. The shares were purchased at an average price of $66.00 per share, for a total transaction of $165,000.00. Following the completion of the transaction, the director owned 21,200 shares in the company, valued at $1,399,200. This represents a 13.37% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.21% of the company’s stock.

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.