Midwest Financial Group LLC Reduces Stock Holdings in ONEOK, Inc. $OKE

Midwest Financial Group LLC cut its holdings in ONEOK, Inc. (NYSE:OKE) by 1.4% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,505 shares of the utilities provider’s stock after selling 492 shares during the period. ONEOK comprises about 1.4% of Midwest Financial Group LLC’s holdings, making the stock its 21st largest position. Midwest Financial Group LLC’s holdings in ONEOK were worth $2,735,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. First Pacific Financial acquired a new position in ONEOK during the first quarter worth about $34,000. Financial Network Wealth Advisors LLC raised its position in shares of ONEOK by 2,466.7% during the 1st 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. MorganRosel Wealth Management LLC purchased a new stake in ONEOK in the 1st quarter valued at approximately $39,000. Financial Gravity Asset Management Inc. acquired a new stake in ONEOK during the 1st quarter valued at $40,000. Finally, Rakuten Securities Inc. increased its position in ONEOK by 152.1% during the first quarter. Rakuten Securities Inc. now owns 421 shares of the utilities provider’s stock worth $42,000 after buying an additional 254 shares in the last quarter. 69.13% of the stock is owned by institutional investors and hedge funds.

ONEOK Stock Performance

Shares of OKE stock opened at $72.99 on Wednesday. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.59 and a quick ratio of 0.46. The company’s fifty day moving average price is $75.23 and its two-hundred day moving average price is $81.51. The firm has a market capitalization of $45.97 billion, a P/E ratio of 14.23, a P/E/G ratio of 1.79 and a beta of 1.04. ONEOK, Inc. has a 12 month low of $70.63 and a 12 month high of $118.07.

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

ONEOK Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Friday, August 1st were paid 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 was Friday, August 1st. ONEOK’s dividend payout ratio is 80.31%.

Analysts Set New Price Targets

OKE has been the topic of several recent research reports. Royal Bank Of Canada reduced their price objective on ONEOK from $94.00 to $88.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 13th. The Goldman Sachs Group initiated coverage on shares of ONEOK in a research note on Tuesday. They issued a “neutral” rating and a $75.00 target price for the company. Mizuho decreased their price target on shares of ONEOK from $87.00 to $82.00 and set a “neutral” rating on the stock in a research note on Friday, August 29th. JPMorgan Chase & Co. boosted their price objective on shares of ONEOK from $94.00 to $97.00 and gave the company an “overweight” rating in a research report on Thursday, July 3rd. Finally, Raymond James Financial reissued an “outperform” rating on shares of ONEOK in a research note on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $99.00.

ONEOK Company 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.