Evanson Asset Management LLC Sells 1,711 Shares of ONEOK, Inc. $OKE

Evanson Asset Management LLC decreased its stake in shares of ONEOK, Inc. (NYSE:OKE) by 4.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 33,213 shares of the utilities provider’s stock after selling 1,711 shares during the quarter. Evanson Asset Management LLC’s holdings in ONEOK were worth $2,711,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the business. First Pacific Financial acquired a new position in ONEOK in the first quarter valued at about $34,000. Financial Network Wealth Advisors LLC boosted its position 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 buying an additional 370 shares in the last quarter. MorganRosel Wealth Management LLC acquired a new position in ONEOK in the first quarter valued at about $39,000. Financial Gravity Asset Management Inc. acquired a new position in ONEOK in the first quarter valued at about $40,000. Finally, Rakuten Securities Inc. boosted its position in ONEOK by 152.1% in the first quarter. Rakuten Securities Inc. now owns 421 shares of the utilities provider’s stock valued at $42,000 after buying an additional 254 shares in the last quarter. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Royal Bank Of Canada dropped their target price on shares of ONEOK from $94.00 to $88.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 13th. Scotiabank set a $92.00 price target on shares of ONEOK and gave the stock a “sector outperform” rating in a research note on Tuesday, July 15th. Raymond James Financial reissued an “outperform” rating on shares of ONEOK in a research note on Friday, August 1st. Mizuho dropped their price target on shares of ONEOK from $87.00 to $82.00 and set a “neutral” rating for the company in a research note on Friday, August 29th. Finally, TD Cowen initiated coverage on shares of ONEOK in a research note on Monday, July 7th. They issued a “hold” rating and a $91.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $100.60.

ONEOK Price Performance

NYSE:OKE opened at $72.52 on Wednesday. ONEOK, Inc. has a 52 week low of $70.63 and a 52 week high of $118.07. The firm has a market cap of $45.67 billion, a price-to-earnings ratio of 14.14, a P/E/G ratio of 1.76 and a beta of 1.04. The firm’s 50-day simple moving average is $75.99 and its 200 day simple moving average is $82.21. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.46 and a current ratio of 0.59.

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

ONEOK Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Friday, August 1st were paid 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 dividend payout ratio is presently 80.31%.

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.