ONEOK, Inc. $OKE Shares Sold by Sagespring Wealth Partners LLC

Sagespring Wealth Partners LLC trimmed its position in ONEOK, Inc. (NYSE:OKE) by 14.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,096 shares of the utilities provider’s stock after selling 1,026 shares during the period. Sagespring Wealth Partners LLC’s holdings in ONEOK were worth $498,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of OKE. Brighton Jones LLC lifted its stake in ONEOK by 137.1% in the 4th quarter. Brighton Jones LLC now owns 15,278 shares of the utilities provider’s stock worth $1,534,000 after purchasing an additional 8,834 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in ONEOK by 20.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 290,937 shares of the utilities provider’s stock valued at $28,867,000 after purchasing an additional 50,272 shares during the period. Ritholtz Wealth Management raised its position in ONEOK by 50.2% in the first quarter. Ritholtz Wealth Management now owns 3,549 shares of the utilities provider’s stock valued at $352,000 after purchasing an additional 1,186 shares during the period. QRG Capital Management Inc. raised its position in ONEOK by 5.4% in the first quarter. QRG Capital Management Inc. now owns 7,467 shares of the utilities provider’s stock valued at $741,000 after purchasing an additional 384 shares during the period. Finally, Grove Bank & Trust raised its position in ONEOK by 87.3% in the first quarter. Grove Bank & Trust now owns 459 shares of the utilities provider’s stock valued at $46,000 after purchasing an additional 214 shares during the period. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have commented on OKE shares. Raymond James Financial restated an “outperform” rating on shares of ONEOK in a research note on Friday, August 1st. JPMorgan Chase & Co. upped their price objective on shares of ONEOK from $94.00 to $97.00 and gave the company an “overweight” rating in a research note on Thursday, July 3rd. Mizuho decreased their price objective on shares of ONEOK from $87.00 to $82.00 and set a “neutral” rating for the company in a research note on Friday, August 29th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of ONEOK in a report on Wednesday, October 8th. Finally, Morgan Stanley cut their price target on shares of ONEOK from $122.00 to $110.00 and set an “overweight” rating for the company in a report on Tuesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $98.27.

ONEOK Stock Down 2.4%

Shares of NYSE OKE opened at $67.27 on Friday. ONEOK, Inc. has a 1 year low of $67.09 and a 1 year high of $118.07. The firm’s 50 day moving average price is $73.05 and its 200 day moving average price is $79.24. The firm has a market cap of $42.36 billion, a P/E ratio of 13.11, a price-to-earnings-growth ratio of 1.69 and a beta of 1.01. 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 (NYSE:OKE) last announced its earnings results on Monday, August 4th. The utilities provider reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.01. ONEOK had a net margin of 11.06% and a return on equity of 14.90%. The firm had revenue of $8.21 billion for the quarter, compared to analyst estimates of $7.20 billion. During the same quarter last year, the business earned $1.33 earnings per share. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. As a group, sell-side analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Monday, November 3rd will be given a dividend of $1.03 per share. The ex-dividend date is Monday, November 3rd. This represents a $4.12 dividend on an annualized basis and a yield of 6.1%. ONEOK’s dividend payout ratio (DPR) is 80.31%.

About ONEOK

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.