DAVENPORT & Co LLC Decreases Stock Holdings in ONEOK, Inc. $OKE

DAVENPORT & Co LLC decreased its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 27.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 80,550 shares of the utilities provider’s stock after selling 31,169 shares during the period. DAVENPORT & Co LLC’s holdings in ONEOK were worth $6,575,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in OKE. First Pacific Financial purchased a new position in shares of ONEOK during the 1st quarter valued at approximately $34,000. Financial Network Wealth Advisors LLC raised its stake in ONEOK by 2,466.7% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 385 shares of the utilities provider’s stock valued at $38,000 after purchasing an additional 370 shares during the last quarter. MorganRosel Wealth Management LLC acquired a new position in ONEOK in the 1st quarter valued at $39,000. Financial Gravity Asset Management Inc. acquired a new position in ONEOK in the 1st quarter valued at $40,000. Finally, Rakuten Securities Inc. raised its stake in ONEOK by 152.1% in the 1st quarter. Rakuten Securities Inc. now owns 421 shares of the utilities provider’s stock valued at $42,000 after purchasing an additional 254 shares during the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Stock Down 0.4%

Shares of OKE opened at $72.42 on Wednesday. ONEOK, Inc. has a 52-week low of $70.63 and a 52-week high of $118.07. The company has a market capitalization of $45.61 billion, a PE ratio of 14.12, a price-to-earnings-growth ratio of 1.79 and a beta of 1.01. The stock has a fifty day simple moving average of $74.28 and a two-hundred day simple moving average of $80.59. 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 (NYSE:OKE) last issued its quarterly earnings data on Monday, August 4th. The utilities provider reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.01. The firm had revenue of $8.21 billion during the quarter, compared to the consensus estimate of $7.20 billion. ONEOK had a return on equity of 14.90% and a net margin of 11.06%.During the same period last year, the company earned $1.33 EPS. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. As a group, equities analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Investors 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 dividend yield of 5.7%. The ex-dividend date of this dividend was Friday, August 1st. ONEOK’s dividend payout ratio (DPR) is presently 80.31%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. TD Cowen assumed coverage on ONEOK in a research note on Monday, July 7th. They issued a “hold” rating and a $91.00 price objective for the company. Mizuho reduced their price objective on ONEOK from $87.00 to $82.00 and set a “neutral” rating for the company in a research note on Friday, August 29th. Weiss Ratings reissued a “hold (c+)” rating on shares of ONEOK in a research note on Saturday, September 27th. Raymond James Financial reissued an “outperform” rating on shares of ONEOK in a research note on Friday, August 1st. Finally, Morgan Stanley cut 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. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, ONEOK presently has a consensus rating of “Moderate Buy” and a consensus target price of $99.00.

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.