NewEdge Advisors LLC Decreases Stake in ONEOK, Inc. $OKE

NewEdge Advisors LLC decreased its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 7.0% in the 1st quarter, Holdings Channel.com reports. The firm owned 125,445 shares of the utilities provider’s stock after selling 9,470 shares during the quarter. NewEdge Advisors LLC’s holdings in ONEOK were worth $12,447,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in OKE. Greenline Partners LLC purchased a new stake in ONEOK during the fourth quarter worth approximately $32,000. First Pacific Financial purchased a new stake in ONEOK during the first quarter worth approximately $34,000. Vermillion Wealth Management Inc. purchased a new stake in ONEOK during the fourth quarter worth approximately $37,000. Financial Network Wealth Advisors LLC lifted its stake in ONEOK by 2,466.7% during the first quarter. Financial Network Wealth Advisors LLC now owns 385 shares of the utilities provider’s stock worth $38,000 after purchasing an additional 370 shares during the last quarter. Finally, MorganRosel Wealth Management LLC purchased a new stake in ONEOK during the first quarter worth approximately $39,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Trading Down 2.4%

NYSE:OKE opened at $72.62 on Friday. The firm has a market cap of $45.74 billion, a P/E ratio of 14.16, a PEG ratio of 1.73 and a beta of 1.04. The company has a current ratio of 0.59, a quick ratio of 0.46 and a debt-to-equity ratio of 1.35. The stock’s 50 day simple moving average is $78.08 and its 200-day simple moving average is $84.11. ONEOK, Inc. has a 12-month low of $70.63 and a 12-month high of $118.07.

ONEOK (NYSE:OKE) last released its earnings results on Monday, August 4th. The utilities provider reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.33 by $0.01. ONEOK had a return on equity of 14.90% and a net margin of 11.06%.The business had revenue of $8.21 billion for the quarter, compared to analyst estimates of $7.20 billion. During the same quarter in the previous year, the company posted $1.33 earnings per share. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. Equities analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Friday, August 1st were given a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 5.7%. The ex-dividend date was Friday, August 1st. ONEOK’s payout ratio is presently 80.31%.

Wall Street Analysts Forecast Growth

OKE has been the subject of several recent analyst reports. Morgan Stanley decreased their target price on ONEOK from $122.00 to $110.00 and set an “overweight” rating for the company in a research note on Tuesday, August 26th. JPMorgan Chase & Co. lifted their price target on ONEOK from $94.00 to $97.00 and gave the stock an “overweight” rating in a research report on Thursday, July 3rd. Raymond James Financial reaffirmed an “outperform” rating on shares of ONEOK in a research report on Friday, August 1st. TD Cowen started coverage on ONEOK in a research report on Monday, July 7th. They set a “hold” rating and a $91.00 price target on the stock. Finally, Scotiabank set a $92.00 price target on ONEOK and gave the stock a “sector outperform” rating in a research report on Tuesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $100.60.

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.