Sound Income Strategies LLC Lowers Stake in ONEOK, Inc. $OKE

Sound Income Strategies LLC lowered its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 4.0% during the 1st quarter, HoldingsChannel reports. The fund owned 153,544 shares of the utilities provider’s stock after selling 6,473 shares during the period. Sound Income Strategies LLC’s holdings in ONEOK were worth $13,414,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of OKE. Zions Bancorporation National Association UT increased its stake in shares of ONEOK by 73.3% during the fourth quarter. Zions Bancorporation National Association UT now owns 338 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 143 shares in the last quarter. Elyxium Wealth LLC bought a new stake in shares of ONEOK in the 4th quarter worth approximately $29,000. Cornerstone Financial Management LLC bought a new stake in shares of ONEOK in the 4th quarter worth approximately $29,000. SRH Advisors LLC grew its stake in shares of ONEOK by 122.3% in the 4th quarter. SRH Advisors LLC now owns 438 shares of the utilities provider’s stock worth $32,000 after buying an additional 241 shares during the last quarter. Finally, Portus Wealth Advisors LLC purchased a new stake in shares of ONEOK in the 1st quarter worth approximately $33,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on OKE shares. Wall Street Zen upgraded ONEOK from a “sell” rating to a “hold” rating in a research note on Tuesday, May 26th. Citigroup increased their target price on ONEOK from $95.00 to $97.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Wells Fargo & Company reduced their price objective on shares of ONEOK from $100.00 to $98.00 and set an “overweight” rating for the company in a research note on Thursday, April 30th. JPMorgan Chase & Co. upped their target price on shares of ONEOK from $91.00 to $92.00 and gave the stock a “neutral” rating in a research note on Friday, May 8th. Finally, TD Cowen upped their price target on ONEOK from $80.00 to $85.00 and gave the company a “hold” rating in a report on Thursday, April 30th. Eight analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $91.88.

ONEOK Stock Performance

OKE stock opened at $87.89 on Friday. The company has a market cap of $55.38 billion, a P/E ratio of 15.67, a price-to-earnings-growth ratio of 6.41 and a beta of 0.73. ONEOK, Inc. has a 1 year low of $64.02 and a 1 year high of $96.07. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.71 and a quick ratio of 0.56. The stock’s fifty day moving average price is $88.56 and its 200-day moving average price is $83.98.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Tuesday, April 28th. The utilities provider reported $1.23 EPS for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.07). ONEOK had a net margin of 10.03% and a return on equity of 16.06%. The firm had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $8.23 billion. During the same quarter last year, the company posted $1.04 EPS. ONEOK has set its FY 2026 guidance at 5.530-5.530 EPS. On average, equities analysts forecast that ONEOK, Inc. will post 5.72 earnings per share for the current year.

ONEOK Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Monday, May 4th were issued a $1.07 dividend. The ex-dividend date of this dividend was Monday, May 4th. This represents a $4.28 dividend on an annualized basis and a dividend yield of 4.9%. ONEOK’s dividend payout ratio (DPR) is presently 76.29%.

ONEOK Company Profile

ONEOK, Inc (NYSE: OKE) is a publicly traded midstream energy company headquartered in Tulsa, Oklahoma. The company owns and operates a portfolio of natural gas and natural gas liquids (NGL) pipelines, processing facilities, fractionators and storage and terminal assets. Its operations are focused on gathering, processing, transporting, fractionating and marketing NGLs and interstate natural gas, providing critical infrastructure that connects hydrocarbon production to refineries, petrochemical plants and other end markets.

ONEOK’s asset base includes pipeline systems and processing plants that move and condition natural gas, along with infrastructure for the transportation, storage and fractionation of NGLs such as ethane, propane and butane.