ONEOK, Inc. $OKE Stock Position Decreased by First Dallas Securities Inc.

First Dallas Securities Inc. trimmed its position in ONEOK, Inc. (NYSE:OKE) by 2.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 71,253 shares of the utilities provider’s stock after selling 1,793 shares during the quarter. ONEOK comprises approximately 2.3% of First Dallas Securities Inc.’s holdings, making the stock its 8th biggest position. First Dallas Securities Inc.’s holdings in ONEOK were worth $5,816,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Access Investment Management LLC bought a new position in shares of ONEOK in the second quarter worth approximately $33,000. 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 valued at $38,000 after buying an additional 370 shares in the last quarter. Trust Co. of Toledo NA OH bought a new position in ONEOK in the 2nd quarter worth $42,000. Cheviot Value Management LLC purchased a new stake in ONEOK in the 1st quarter worth $46,000. Finally, CNB Bank purchased a new stake in ONEOK in the 2nd quarter worth $51,000. Institutional investors own 69.13% of the company’s stock.

Analyst Ratings Changes

OKE has been the subject of a number of recent analyst reports. TD Cowen dropped their price objective on ONEOK from $78.00 to $76.00 and set a “hold” rating for the company in a research note on Thursday, October 30th. Stifel Nicolaus set a $94.00 price target on ONEOK in a research note on Thursday, October 30th. Wells Fargo & Company reduced their price objective on shares of ONEOK from $90.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 30th. Citigroup lowered their target price on shares of ONEOK from $102.00 to $95.00 and set a “buy” rating on the stock in a report on Friday, October 31st. Finally, Argus raised shares of ONEOK from a “hold” rating to a “buy” rating and set a $79.00 target price for the company in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $91.94.

ONEOK Price Performance

ONEOK stock opened at $68.15 on Monday. ONEOK, Inc. has a 52-week low of $64.02 and a 52-week high of $118.07. The company has a quick ratio of 0.46, a current ratio of 0.90 and a debt-to-equity ratio of 1.44. The firm’s fifty day moving average is $70.92 and its 200 day moving average is $77.15. The company has a market cap of $42.88 billion, a price-to-earnings ratio of 12.53, a PEG ratio of 2.62 and a beta of 1.05.

ONEOK (NYSE:OKE) last issued its quarterly earnings data on Tuesday, October 28th. The utilities provider reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.48 by $0.01. The business had revenue of $9.17 billion during the quarter, compared to analysts’ expectations of $8.23 billion. ONEOK had a net margin of 10.58% and a return on equity of 15.12%. During the same period last year, the company posted $1.18 EPS. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. Sell-side analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Monday, November 3rd will be paid a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 6.0%. The ex-dividend date of this dividend is Monday, November 3rd. ONEOK’s payout ratio is presently 75.74%.

Insider Transactions at ONEOK

In related news, Director Brian L. Derksen acquired 2,500 shares of the stock in a transaction dated Monday, November 3rd. The stock was acquired at an average cost of $66.00 per share, with a total value of $165,000.00. Following the purchase, the director directly owned 21,200 shares of the company’s stock, valued at approximately $1,399,200. This trade represents a 13.37% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.21% of the stock is currently owned by company insiders.

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.