Ignite Planners LLC Sells 5,754 Shares of ONEOK, Inc. $OKE

Ignite Planners LLC trimmed its stake in shares of ONEOK, Inc. (NYSE:OKE) by 51.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,441 shares of the utilities provider’s stock after selling 5,754 shares during the quarter. Ignite Planners LLC’s holdings in ONEOK were worth $453,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in OKE. Brighton Jones LLC boosted its position in ONEOK by 137.1% during the fourth quarter. Brighton Jones LLC now owns 15,278 shares of the utilities provider’s stock worth $1,534,000 after purchasing an additional 8,834 shares during the period. Patriot Financial Group Insurance Agency LLC boosted its position in ONEOK by 16.3% during the first quarter. Patriot Financial Group Insurance Agency LLC now owns 2,461 shares of the utilities provider’s stock worth $244,000 after purchasing an additional 345 shares during the period. Park Avenue Securities LLC boosted its position in ONEOK by 2.8% during the first quarter. Park Avenue Securities LLC now owns 7,816 shares of the utilities provider’s stock worth $776,000 after purchasing an additional 214 shares during the period. Farther Finance Advisors LLC boosted its position in ONEOK by 173.8% during the first quarter. Farther Finance Advisors LLC now owns 19,164 shares of the utilities provider’s stock worth $1,907,000 after purchasing an additional 12,166 shares during the period. Finally, Wealthcare Advisory Partners LLC boosted its position in shares of ONEOK by 7.0% in the first quarter. Wealthcare Advisory Partners LLC now owns 19,608 shares of the utilities provider’s stock valued at $1,946,000 after acquiring an additional 1,279 shares during the period. 69.13% of the stock is owned by institutional investors.

ONEOK Stock Down 0.1%

Shares of NYSE OKE opened at $72.41 on Thursday. 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 company has a market cap of $45.60 billion, a price-to-earnings ratio of 14.12, a PEG ratio of 1.78 and a beta of 1.01. ONEOK, Inc. has a 12 month low of $70.63 and a 12 month high of $118.07. The stock has a 50-day moving average price of $74.09 and a two-hundred day moving average price of $80.53.

ONEOK (NYSE:OKE) last issued its 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 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 quarter in the previous 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, analysts forecast 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. Shareholders of record on Friday, August 1st were paid a dividend of $1.03 per share. The ex-dividend date of this dividend was Friday, August 1st. This represents a $4.12 annualized dividend and a yield of 5.7%. ONEOK’s payout ratio is presently 80.31%.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Mizuho dropped their price objective 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. Barclays set a $83.00 price objective on shares of ONEOK in a research note on Thursday, August 14th. Morgan Stanley dropped their price objective on shares of ONEOK from $122.00 to $110.00 and set an “overweight” rating for the company in a research note on Tuesday, August 26th. Raymond James Financial reiterated an “outperform” rating on shares of ONEOK in a research note on Friday, August 1st. Finally, TD Cowen started coverage on shares of ONEOK in a research note on Monday, July 7th. They issued a “hold” rating and a $91.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average 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.