Edgestream Partners L.P. Trims Stock Position in ONEOK, Inc. $OKE

Edgestream Partners L.P. lessened its holdings in ONEOK, Inc. (NYSE:OKE) by 95.4% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,666 shares of the utilities provider’s stock after selling 139,593 shares during the period. Edgestream Partners L.P.’s holdings in ONEOK were worth $544,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Access Investment Management LLC purchased a new stake in ONEOK during the second quarter valued at approximately $33,000. Financial Network Wealth Advisors LLC grew its position in shares of ONEOK by 2,466.7% during the 1st quarter. Financial Network Wealth Advisors LLC now owns 385 shares of the utilities provider’s stock valued at $38,000 after acquiring an additional 370 shares during the period. Trust Co. of Toledo NA OH bought a new stake in shares of ONEOK during the 2nd quarter valued at $42,000. MTM Investment Management LLC purchased a new stake in shares of ONEOK in the 2nd quarter worth $44,000. Finally, CNB Bank bought a new position in ONEOK in the 2nd quarter worth $51,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Insider Buying and Selling

In related news, Director Brian L. Derksen acquired 2,500 shares of the company’s stock in a transaction on Monday, November 3rd. The stock was acquired at an average price of $66.00 per share, with a total value of $165,000.00. Following the acquisition, the director directly owned 21,200 shares of the company’s stock, valued at approximately $1,399,200. This trade represents a 13.37% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. 0.21% of the stock is currently owned by insiders.

ONEOK Trading Up 0.3%

OKE stock opened at $76.38 on Friday. The company has a debt-to-equity ratio of 1.44, a current ratio of 0.90 and a quick ratio of 0.75. ONEOK, Inc. has a 1-year low of $64.02 and a 1-year high of $111.02. The business has a 50 day simple moving average of $70.14 and a two-hundred day simple moving average of $75.41. The company has a market capitalization of $48.06 billion, a price-to-earnings ratio of 14.04, a PEG ratio of 4.68 and a beta of 0.95.

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

ONEOK Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Monday, November 3rd were issued a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 5.4%. The ex-dividend date was Monday, November 3rd. ONEOK’s payout ratio is currently 75.74%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on OKE. Scotiabank cut their price target on ONEOK from $88.00 to $87.00 and set a “sector outperform” rating for the company in a report on Tuesday, November 4th. Barclays lowered their price objective on ONEOK from $83.00 to $78.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 9th. Morgan Stanley reduced their target price on shares of ONEOK from $122.00 to $110.00 and set an “overweight” rating for the company in a report on Tuesday, August 26th. Weiss Ratings restated a “hold (c)” rating on shares of ONEOK in a research note on Monday, December 1st. Finally, Citigroup lowered their price target on shares of ONEOK from $102.00 to $95.00 and set a “buy” rating on the stock in a report on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, ONEOK currently has an average rating of “Moderate Buy” and a consensus target price of $88.00.

ONEOK 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.