ONEOK, Inc. $OKE Shares Sold by Revolve Wealth Partners LLC

Revolve Wealth Partners LLC decreased its stake in ONEOK, Inc. (NYSE:OKE) by 5.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,417 shares of the utilities provider’s stock after selling 283 shares during the quarter. Revolve Wealth Partners LLC’s holdings in ONEOK were worth $442,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Astoria Portfolio Advisors LLC. grew its position in shares of ONEOK by 10.1% in the second quarter. Astoria Portfolio Advisors LLC. now owns 2,990 shares of the utilities provider’s stock valued at $245,000 after purchasing an additional 275 shares during the period. Sequoia Financial Advisors LLC grew its position in shares of ONEOK by 1.2% in the second quarter. Sequoia Financial Advisors LLC now owns 214,400 shares of the utilities provider’s stock valued at $17,501,000 after purchasing an additional 2,439 shares during the period. Total Clarity Wealth Management Inc. grew its position in shares of ONEOK by 2.9% in the second quarter. Total Clarity Wealth Management Inc. now owns 15,872 shares of the utilities provider’s stock valued at $1,296,000 after purchasing an additional 446 shares during the period. MGO One Seven LLC boosted its position in ONEOK by 957.0% during the second quarter. MGO One Seven LLC now owns 43,306 shares of the utilities provider’s stock worth $3,535,000 after acquiring an additional 39,209 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in ONEOK by 6.9% during the second quarter. Allspring Global Investments Holdings LLC now owns 377,882 shares of the utilities provider’s stock worth $30,605,000 after acquiring an additional 24,378 shares during the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on OKE shares. Weiss Ratings restated a “hold (c+)” rating on shares of ONEOK in a research report on Wednesday, October 8th. Royal Bank Of Canada lowered their price target on shares of ONEOK from $94.00 to $88.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 13th. JPMorgan Chase & Co. boosted their price target on shares of ONEOK from $94.00 to $97.00 and gave the stock an “overweight” rating in a research report on Thursday, July 3rd. Barclays lowered their price target on shares of ONEOK from $83.00 to $78.00 and set an “equal weight” rating on the stock in a research report on Thursday. Finally, Scotiabank set a $92.00 price target on shares of ONEOK and gave the stock a “sector outperform” rating in a research report on Tuesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $98.69.

ONEOK Price Performance

Shares of OKE stock opened at $69.60 on Tuesday. 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 firm’s 50-day moving average is $73.47 and its two-hundred day moving average is $79.61. ONEOK, Inc. has a 12 month low of $69.05 and a 12 month high of $118.07. The company has a market capitalization of $43.83 billion, a PE ratio of 13.57, a price-to-earnings-growth ratio of 1.69 and a beta of 1.01.

ONEOK (NYSE:OKE) last issued its 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 company had revenue of $8.21 billion for the quarter, compared to the consensus estimate of $7.20 billion. During the same period 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. Analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Friday, August 1st were paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 5.9%. The ex-dividend date of this dividend was Friday, August 1st. ONEOK’s payout ratio is 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.