Cypress Capital Group Sells 2,233 Shares of ONEOK, Inc. $OKE

Cypress Capital Group cut its holdings in ONEOK, Inc. (NYSE:OKE) by 34.7% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 4,200 shares of the utilities provider’s stock after selling 2,233 shares during the period. Cypress Capital Group’s holdings in ONEOK were worth $343,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in OKE. First Pacific Financial bought a new stake in ONEOK during the first quarter worth approximately $34,000. Financial Network Wealth Advisors LLC lifted its stake in shares of ONEOK by 2,466.7% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 385 shares of the utilities provider’s stock valued at $38,000 after purchasing an additional 370 shares during the last quarter. MorganRosel Wealth Management LLC purchased a new position in shares of ONEOK in the 1st quarter worth approximately $39,000. Financial Gravity Asset Management Inc. bought a new position in shares of ONEOK during the 1st quarter valued at approximately $40,000. Finally, Rakuten Securities Inc. raised its holdings in ONEOK by 152.1% during the 1st quarter. Rakuten Securities Inc. now owns 421 shares of the utilities provider’s stock valued at $42,000 after buying an additional 254 shares during the period. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on OKE. TD Cowen began coverage on shares of ONEOK in a research note on Monday, July 7th. They set a “hold” rating and a $91.00 price objective for the company. Raymond James Financial reaffirmed an “outperform” rating on shares of ONEOK in a research note on Friday, August 1st. Scotiabank set a $92.00 price target on shares of ONEOK and gave the company a “sector outperform” rating in a report on Tuesday, July 15th. Morgan Stanley decreased their price objective on shares of ONEOK from $122.00 to $110.00 and set an “overweight” rating for the company in a research note on Tuesday, August 26th. Finally, Barclays dropped their target price on ONEOK from $83.00 to $78.00 and set an “equal weight” rating for the company in a research report on Thursday. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, ONEOK currently has a consensus rating of “Moderate Buy” and an average target price of $98.69.

ONEOK Stock Performance

Shares of NYSE:OKE opened at $69.60 on Tuesday. The firm’s 50 day simple moving average is $73.47 and its 200-day simple moving average is $79.61. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.46 and a current ratio of 0.59. ONEOK, Inc. has a one year low of $69.05 and a one year high of $118.07. The firm has a market cap 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 announced its quarterly earnings data on Monday, August 4th. The utilities provider reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.01. The company had revenue of $8.21 billion for the quarter, compared to analysts’ expectations of $7.20 billion. ONEOK had a return on equity of 14.90% and a net margin of 11.06%.During the same quarter in the prior year, the firm earned $1.33 earnings per share. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. As a group, equities analysts predict that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Friday, August 1st were paid a dividend of $1.03 per share. The ex-dividend date was Friday, August 1st. This represents a $4.12 annualized dividend and a dividend yield of 5.9%. ONEOK’s dividend payout ratio (DPR) is currently 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.