Wedbush Securities Inc. Has $984,000 Stock Position in ONEOK, Inc. $OKE

Wedbush Securities Inc. lowered its stake in ONEOK, Inc. (NYSE:OKE) by 19.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,054 shares of the utilities provider’s stock after selling 2,950 shares during the quarter. Wedbush Securities Inc.’s holdings in ONEOK were worth $984,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Access Investment Management LLC acquired a new position in shares of ONEOK in the second quarter worth about $33,000. Financial Network Wealth Advisors LLC boosted its stake in ONEOK by 2,466.7% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 385 shares of the utilities provider’s stock worth $38,000 after purchasing an additional 370 shares during the period. Trust Co. of Toledo NA OH purchased a new position in ONEOK during the 2nd quarter worth approximately $42,000. Cheviot Value Management LLC acquired a new stake in ONEOK during the 1st quarter valued at $46,000. Finally, CNB Bank acquired a new stake in ONEOK during the 2nd quarter valued at $51,000. 69.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on OKE. Mizuho lowered their price target on ONEOK from $87.00 to $82.00 and set a “neutral” rating on the stock in a report on Friday, August 29th. Raymond James Financial reaffirmed an “outperform” rating and set a $82.00 target price (down previously from $100.00) on shares of ONEOK in a research note on Friday, October 24th. Morgan Stanley reduced their price target on shares of ONEOK from $122.00 to $110.00 and set an “overweight” rating for the company in a research report on Tuesday, August 26th. Wells Fargo & Company decreased their price target on shares of ONEOK from $90.00 to $82.00 and set an “equal weight” rating for the company in a report on Thursday, October 30th. Finally, Royal Bank Of Canada dropped their price objective on shares of ONEOK from $94.00 to $88.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $91.94.

Insider Buying and Selling

In other ONEOK news, Director Brian L. Derksen bought 2,500 shares of the stock in a transaction on Monday, November 3rd. The shares were purchased at an average cost of $66.00 per share, with a total value of $165,000.00. Following the completion of the transaction, the director directly owned 21,200 shares of the company’s stock, valued at $1,399,200. This represents a 13.37% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.21% of the stock is owned by insiders.

ONEOK Trading Down 0.4%

Shares of NYSE OKE opened at $67.88 on Tuesday. The business has a 50 day simple moving average of $70.75 and a 200 day simple moving average of $77.02. ONEOK, Inc. has a 52 week low of $64.02 and a 52 week high of $118.07. The stock has a market cap of $42.71 billion, a price-to-earnings ratio of 12.48, a PEG ratio of 2.62 and a beta of 1.05. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.46 and a current ratio of 0.90.

ONEOK (NYSE:OKE) last posted its earnings results on Tuesday, October 28th. The utilities provider reported $1.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.48 by $0.01. The firm 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 in the previous year, the company earned $1.18 earnings per share. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. On average, research analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Monday, November 3rd will be issued a $1.03 dividend. 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 is currently 75.74%.

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.