D.A. Davidson & CO. Sells 62,308 Shares of ONEOK, Inc. $OKE

D.A. Davidson & CO. lessened its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 38.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 101,557 shares of the utilities provider’s stock after selling 62,308 shares during the quarter. D.A. Davidson & CO.’s holdings in ONEOK were worth $7,411,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. City Holding Co. acquired a new position in shares of ONEOK during the 3rd quarter worth $28,000. Global Wealth Strategies & Associates bought a new stake in ONEOK in the third quarter worth $29,000. Financial Consulate Inc. acquired a new position in ONEOK during the third quarter worth $29,000. Access Investment Management LLC bought a new position in ONEOK during the second quarter valued at about $33,000. Finally, Twin Peaks Wealth Advisors LLC bought a new position in ONEOK during the second quarter valued at about $34,000. 69.13% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on OKE. Stifel Nicolaus set a $94.00 price objective on ONEOK in a report on Thursday, October 30th. Raymond James Financial reiterated 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. TD Cowen dropped their price target on shares of ONEOK from $78.00 to $76.00 and set a “hold” rating on the stock in a research report on Thursday, October 30th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $72.00 price objective on shares of ONEOK in a report on Monday, November 3rd. Finally, Scotiabank lowered their target price on shares of ONEOK from $88.00 to $87.00 and set a “sector outperform” rating on the stock in a research note on Tuesday, November 4th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, ONEOK has an average rating of “Moderate Buy” and an average price target of $88.00.

Insider Activity at ONEOK

In other news, Director Brian L. Derksen bought 2,500 shares of ONEOK stock in a transaction that occurred on Monday, November 3rd. The stock was purchased at an average cost of $66.00 per share, with a total value of $165,000.00. Following the completion of the transaction, the director directly owned 21,200 shares in the company, valued at $1,399,200. This trade represents a 13.37% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.20% of the company’s stock.

ONEOK Stock Down 3.7%

Shares of OKE opened at $70.92 on Wednesday. The company has a 50-day simple moving average of $71.35 and a 200-day simple moving average of $74.06. The firm has a market capitalization of $44.63 billion, a P/E ratio of 13.04, a P/E/G ratio of 4.11 and a beta of 0.94. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.75 and a current ratio of 0.90. ONEOK, Inc. has a 52 week low of $64.02 and a 52 week high of $111.02.

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

ONEOK Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Monday, November 3rd were paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date was Monday, November 3rd. ONEOK’s dividend payout ratio is presently 75.74%.

ONEOK Company Profile

ONEOK, Inc (NYSE: OKE) is a publicly traded midstream energy company headquartered in Tulsa, Oklahoma. The company owns and operates a portfolio of natural gas and natural gas liquids (NGL) pipelines, processing facilities, fractionators and storage and terminal assets. Its operations are focused on gathering, processing, transporting, fractionating and marketing NGLs and interstate natural gas, providing critical infrastructure that connects hydrocarbon production to refineries, petrochemical plants and other end markets.

ONEOK’s asset base includes pipeline systems and processing plants that move and condition natural gas, along with infrastructure for the transportation, storage and fractionation of NGLs such as ethane, propane and butane.