CFM Wealth Partners LLC Has $1.47 Million Position in ONEOK, Inc. $OKE

CFM Wealth Partners LLC lowered its position in ONEOK, Inc. (NYSE:OKE) by 0.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,022 shares of the utilities provider’s stock after selling 168 shares during the quarter. CFM Wealth Partners LLC’s holdings in ONEOK were worth $1,471,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of OKE. First Pacific Financial acquired a new stake in shares of ONEOK during the 1st quarter worth about $34,000. Financial Network Wealth Advisors LLC lifted its stake 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 buying an additional 370 shares during the last quarter. MorganRosel Wealth Management LLC acquired a new stake in shares of ONEOK during the 1st quarter worth about $39,000. Financial Gravity Asset Management Inc. acquired a new stake in shares of ONEOK during the 1st quarter worth about $40,000. Finally, Rakuten Securities Inc. lifted its stake in shares of ONEOK by 152.1% during the 1st quarter. Rakuten Securities Inc. now owns 421 shares of the utilities provider’s stock worth $42,000 after buying an additional 254 shares during the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Price Performance

OKE stock opened at $72.72 on Tuesday. The company has a quick ratio of 0.46, a current ratio of 0.59 and a debt-to-equity ratio of 1.35. ONEOK, Inc. has a 12 month low of $70.63 and a 12 month high of $118.07. The firm has a market cap of $45.80 billion, a P/E ratio of 14.18, a P/E/G ratio of 1.79 and a beta of 1.01. The company’s 50-day moving average price is $74.50 and its two-hundred day moving average price is $80.64.

ONEOK (NYSE:OKE) last released its earnings results on Monday, August 4th. The utilities provider reported $1.34 EPS for the quarter, beating the consensus estimate of $1.33 by $0.01. ONEOK had a net margin of 11.06% and a return on equity of 14.90%. The firm 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 EPS. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. On average, analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal 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 issued a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 5.7%. The ex-dividend date of this dividend was Friday, August 1st. ONEOK’s dividend payout ratio (DPR) is currently 80.31%.

Analysts Set New Price Targets

OKE has been the subject of a number of research reports. Scotiabank set a $92.00 target price on shares of ONEOK and gave the stock a “sector outperform” rating in a research note on Tuesday, July 15th. Barclays set a $83.00 target price on shares of ONEOK in a research note on Thursday, August 14th. The Goldman Sachs Group began coverage on shares of ONEOK in a research note on Tuesday, September 30th. They issued a “neutral” rating and a $75.00 price objective for the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of ONEOK in a research note on Saturday, September 27th. Finally, Royal Bank Of Canada dropped their price objective 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. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.