Cerity Partners LLC Has $7.76 Million Position in ONEOK, Inc. $OKE

Cerity Partners LLC lessened its stake in ONEOK, Inc. (NYSE:OKE) by 35.9% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 95,095 shares of the utilities provider’s stock after selling 53,304 shares during the quarter. Cerity Partners LLC’s holdings in ONEOK were worth $7,763,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Access Investment Management LLC purchased a new position in shares of ONEOK during the 2nd quarter valued at $33,000. Twin Peaks Wealth Advisors LLC acquired a new stake in ONEOK during the second quarter valued at $34,000. Financial Network Wealth Advisors LLC grew its stake in ONEOK by 2,466.7% in the first quarter. Financial Network Wealth Advisors LLC now owns 385 shares of the utilities provider’s stock valued at $38,000 after purchasing an additional 370 shares in the last quarter. Trust Co. of Toledo NA OH acquired a new position in ONEOK in the 2nd quarter worth about $42,000. Finally, MTM Investment Management LLC purchased a new stake in shares of ONEOK during the 2nd quarter worth about $44,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Insiders Place Their Bets

In other ONEOK news, Director Brian L. Derksen bought 2,500 shares of the stock in a transaction on Monday, November 3rd. The shares were purchased 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 $1,399,200. This represents a 13.37% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.21% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Argus raised ONEOK from a “hold” rating to a “buy” rating and set a $79.00 price target for the company in a research note on Thursday, November 6th. Scotiabank decreased their target price on shares of ONEOK from $88.00 to $87.00 and set a “sector outperform” rating for the company in a research report on Tuesday, November 4th. Wells Fargo & Company dropped their price target on shares of ONEOK from $90.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 30th. Raymond James Financial restated an “outperform” rating and set a $82.00 price target (down previously from $100.00) on shares of ONEOK in a report on Friday, October 24th. Finally, Citigroup decreased their price objective on shares of ONEOK from $102.00 to $95.00 and set a “buy” rating for the company in a report on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $88.00.

ONEOK Price Performance

Shares of ONEOK stock opened at $73.63 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.75 and a debt-to-equity ratio of 1.44. The firm has a fifty day simple moving average of $70.25 and a 200-day simple moving average of $75.25. The stock has a market capitalization of $46.33 billion, a price-to-earnings ratio of 13.53, a PEG ratio of 4.52 and a beta of 0.95. ONEOK, Inc. has a 1-year low of $64.02 and a 1-year high of $111.02.

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

ONEOK Announces Dividend

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

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.