Prosperity Consulting Group LLC Sells 2,643 Shares of ONEOK, Inc. $OKE

Prosperity Consulting Group LLC lessened its position in shares of ONEOK, Inc. (NYSE:OKE) by 4.2% in the 2nd quarter, HoldingsChannel reports. The fund owned 60,411 shares of the utilities provider’s stock after selling 2,643 shares during the period. Prosperity Consulting Group LLC’s holdings in ONEOK were worth $4,931,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in shares of ONEOK by 7.2% in the first quarter. Vanguard Group Inc. now owns 75,196,969 shares of the utilities provider’s stock worth $7,461,043,000 after purchasing an additional 5,076,705 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of ONEOK by 13.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 20,957,230 shares of the utilities provider’s stock valued at $2,079,376,000 after acquiring an additional 2,542,449 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of ONEOK by 25.1% in the 1st quarter. Invesco Ltd. now owns 8,339,939 shares of the utilities provider’s stock valued at $827,489,000 after acquiring an additional 1,674,706 shares during the last quarter. Tortoise Capital Advisors L.L.C. boosted its holdings in shares of ONEOK by 17.1% in the 1st quarter. Tortoise Capital Advisors L.L.C. now owns 7,171,795 shares of the utilities provider’s stock valued at $711,586,000 after acquiring an additional 1,047,810 shares during the last quarter. Finally, Northern Trust Corp raised its position in ONEOK by 5.3% during the first quarter. Northern Trust Corp now owns 6,879,863 shares of the utilities provider’s stock worth $682,620,000 after acquiring an additional 344,002 shares during the period. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Wells Fargo & Company reduced their price objective on shares of ONEOK from $90.00 to $82.00 and set an “equal weight” rating for the company in a research report on Thursday. Morgan Stanley dropped their price target on ONEOK from $122.00 to $110.00 and set an “overweight” rating for the company in a research report on Tuesday, August 26th. TD Cowen dropped their price target on ONEOK from $78.00 to $76.00 and set a “hold” rating for the company in a research report on Thursday, October 30th. Weiss Ratings reiterated a “hold (c+)” rating on shares of ONEOK in a research report on Wednesday, October 8th. Finally, Barclays dropped their price target on ONEOK from $83.00 to $78.00 and set an “equal weight” rating for the company in a research report on Thursday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $93.13.

ONEOK Stock Performance

NYSE OKE opened at $65.37 on Tuesday. The stock’s fifty day moving average is $71.62 and its two-hundred day moving average is $77.65. The firm has a market capitalization of $41.13 billion, a P/E ratio of 12.02, a price-to-earnings-growth ratio of 2.62 and a beta of 1.01. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.46 and a current ratio of 0.90. ONEOK, Inc. has a fifty-two week low of $64.28 and a fifty-two week high of $118.07.

ONEOK (NYSE:OKE) last released its quarterly earnings data on Tuesday, October 28th. The utilities provider reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.48 by $0.01. The company had revenue of $9.17 billion for the quarter, compared to analyst estimates of $8.23 billion. ONEOK had a return on equity of 15.12% and a net margin of 10.58%.During the same quarter in the previous year, the company posted $1.18 earnings per share. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. On average, research analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Monday, November 3rd will be paid a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 6.3%. The ex-dividend date of this dividend is Monday, November 3rd. ONEOK’s dividend payout ratio is 75.74%.

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.