ONEOK, Inc. $OKE Position Lowered by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC reduced its position in ONEOK, Inc. (NYSE:OKE) by 2.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 702,530 shares of the utilities provider’s stock after selling 16,899 shares during the quarter. Commonwealth Equity Services LLC owned approximately 0.11% of ONEOK worth $51,264,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the company. Bogart Wealth LLC increased its holdings in shares of ONEOK by 3.1% in the 2nd quarter. Bogart Wealth LLC now owns 4,031 shares of the utilities provider’s stock valued at $329,000 after acquiring an additional 122 shares during the last quarter. Empowered Funds LLC increased its stake in ONEOK by 0.8% during the first quarter. Empowered Funds LLC now owns 17,957 shares of the utilities provider’s stock valued at $1,782,000 after purchasing an additional 137 shares during the last quarter. MJT & Associates Financial Advisory Group Inc. increased its stake in ONEOK by 5.8% during the second quarter. MJT & Associates Financial Advisory Group Inc. now owns 2,540 shares of the utilities provider’s stock valued at $207,000 after purchasing an additional 140 shares during the last quarter. Focused Wealth Management Inc raised its holdings in shares of ONEOK by 4.3% during the third quarter. Focused Wealth Management Inc now owns 3,441 shares of the utilities provider’s stock worth $251,000 after purchasing an additional 142 shares during the period. Finally, Fidelis Capital Partners LLC lifted its position in shares of ONEOK by 4.2% in the 2nd quarter. Fidelis Capital Partners LLC now owns 3,589 shares of the utilities provider’s stock worth $270,000 after buying an additional 144 shares during the last quarter. Institutional investors own 69.13% of the company’s stock.

ONEOK Stock Down 3.7%

OKE opened at $70.92 on Wednesday. The stock’s 50 day moving average price is $71.35 and its 200 day moving average price is $74.06. The company has a debt-to-equity ratio of 1.44, a current ratio of 0.90 and a quick ratio of 0.75. The stock has a market cap 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. ONEOK, Inc. has a 12 month low of $64.02 and a 12 month high of $111.02.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Tuesday, October 28th. The utilities provider reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.48 by $0.01. The company had revenue of $8.63 billion during the quarter, compared to analysts’ expectations 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 prior year, the business posted $1.18 earnings per share. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. As a group, research analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 14th. Shareholders 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 5.8%. ONEOK’s dividend payout ratio (DPR) is presently 75.74%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $72.00 price objective on shares of ONEOK in a research report on Monday, November 3rd. Raymond James Financial reaffirmed an “outperform” rating and set a $82.00 target price (down from $100.00) on shares of ONEOK in a report on Friday, October 24th. Citigroup cut their price target on ONEOK from $102.00 to $95.00 and set a “buy” rating on the stock in a report on Friday, October 31st. Argus upgraded ONEOK from a “hold” rating to a “buy” rating and set a $79.00 price objective for the company in a research report on Thursday, November 6th. Finally, Wells Fargo & Company lowered their price objective on ONEOK from $90.00 to $82.00 and set an “equal weight” rating for the company in a research note on Thursday, October 30th. 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 stock. According to data from MarketBeat.com, ONEOK presently has a consensus rating of “Moderate Buy” and an average target price of $88.00.

Insider Activity at ONEOK

In related news, Director Brian L. Derksen purchased 2,500 shares of ONEOK stock in a transaction dated Monday, November 3rd. The stock was bought at an average cost of $66.00 per share, with a total value of $165,000.00. Following the purchase, the director owned 21,200 shares in the company, valued at approximately $1,399,200. The trade was a 13.37% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.20% of the company’s stock.

ONEOK 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.