HighTower Advisors LLC Lowers Stock Position in ONEOK, Inc. $OKE

HighTower Advisors LLC lessened its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 5.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 510,810 shares of the utilities provider’s stock after selling 26,798 shares during the period. HighTower Advisors LLC’s holdings in ONEOK were worth $44,410,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Brighton Jones LLC increased its position in ONEOK by 137.1% during the 4th quarter. Brighton Jones LLC now owns 15,278 shares of the utilities provider’s stock valued at $1,534,000 after buying an additional 8,834 shares in the last quarter. Empowered Funds LLC grew its stake in shares of ONEOK by 0.8% in the first quarter. Empowered Funds LLC now owns 17,957 shares of the utilities provider’s stock worth $1,782,000 after acquiring an additional 137 shares during the last quarter. Acadian Asset Management LLC bought a new position in shares of ONEOK during the first quarter valued at $216,000. Federated Hermes Inc. increased its holdings in shares of ONEOK by 14.0% during the second quarter. Federated Hermes Inc. now owns 3,120 shares of the utilities provider’s stock valued at $255,000 after acquiring an additional 383 shares in the last quarter. Finally, NewEdge Advisors LLC raised its position in shares of ONEOK by 3.9% in the 2nd quarter. NewEdge Advisors LLC now owns 130,347 shares of the utilities provider’s stock worth $10,640,000 after purchasing an additional 4,902 shares during the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

ONEOK Price Performance

Shares of NYSE:OKE opened at $95.25 on Tuesday. ONEOK, Inc. has a fifty-two week low of $64.02 and a fifty-two week high of $99.85. The business has a 50-day simple moving average of $91.80 and a two-hundred day simple moving average of $89.20. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.59 and a current ratio of 0.74. The firm has a market cap of $60.04 billion, a price-to-earnings ratio of 16.42, a price-to-earnings-growth ratio of 2.66 and a beta of 0.74.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Monday, August 3rd. The utilities provider reported $1.53 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.07. The firm had revenue of $12.05 billion during the quarter, compared to analyst estimates of $8.95 billion. ONEOK had a net margin of 9.29% and a return on equity of 16.41%. During the same period in the previous year, the business posted $1.34 earnings per share. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. On average, analysts expect that ONEOK, Inc. will post 5.84 earnings per share for the current year.

ONEOK Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Monday, August 3rd were issued a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend was Monday, August 3rd. ONEOK’s dividend payout ratio is presently 73.79%.

Wall Street Analyst Weigh In

OKE has been the topic of several recent analyst reports. JPMorgan Chase & Co. increased their price objective on shares of ONEOK from $95.00 to $106.00 and gave the company a “neutral” rating in a research report on Tuesday, September 1st. Wall Street Zen raised shares of ONEOK from a “sell” rating to a “hold” rating in a report on Sunday, August 9th. Wells Fargo & Company upped their target price on shares of ONEOK from $98.00 to $106.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 2nd. Royal Bank Of Canada raised their price target on shares of ONEOK from $84.00 to $90.00 and gave the company a “sector perform” rating in a research report on Tuesday, July 21st. Finally, Truist Financial boosted their price objective on shares of ONEOK from $93.00 to $104.00 and gave the stock a “hold” rating in a report on Wednesday, September 2nd. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $95.50.

About ONEOK

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.