NewEdge Advisors LLC Reduces Position in ONEOK, Inc. $OKE

NewEdge Advisors LLC lowered its holdings in ONEOK, Inc. (NYSE:OKE) by 8.0% in the second quarter, HoldingsChannel reports. The firm owned 186,541 shares of the utilities provider’s stock after selling 16,173 shares during the period. NewEdge Advisors LLC’s holdings in ONEOK were worth $16,218,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the business. GTS Securities LLC increased its holdings in ONEOK by 4.3% during the 2nd quarter. GTS Securities LLC now owns 2,573 shares of the utilities provider’s stock worth $224,000 after purchasing an additional 105 shares during the last quarter. Meridian Wealth Management LLC boosted its stake in shares of ONEOK by 1.8% during the 2nd quarter. Meridian Wealth Management LLC now owns 6,598 shares of the utilities provider’s stock valued at $574,000 after buying an additional 115 shares during the last quarter. Clearstead Trust LLC grew its position in shares of ONEOK by 4.7% during the first quarter. Clearstead Trust LLC now owns 2,632 shares of the utilities provider’s stock worth $238,000 after buying an additional 117 shares in the last quarter. Hoxton Planning & Management LLC grew its position in shares of ONEOK by 2.3% during the fourth quarter. Hoxton Planning & Management LLC now owns 5,372 shares of the utilities provider’s stock worth $395,000 after buying an additional 120 shares in the last quarter. Finally, Welch Group LLC increased its stake in shares of ONEOK by 0.8% in the first quarter. Welch Group LLC now owns 14,859 shares of the utilities provider’s stock worth $1,343,000 after buying an additional 122 shares during the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Stock Performance

ONEOK stock opened at $95.74 on Friday. The company has a market cap of $60.35 billion, a PE ratio of 16.51, a P/E/G ratio of 2.72 and a beta of 0.74. The company has a fifty day moving average price of $92.38 and a two-hundred day moving average price of $89.40. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.74 and a quick ratio of 0.59. ONEOK, Inc. has a 12 month low of $64.02 and a 12 month high of $99.85.

ONEOK (NYSE:OKE) last issued its earnings results on Monday, August 3rd. The utilities provider reported $1.53 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.07. The company had revenue of $12.05 billion for the quarter, compared to analysts’ expectations 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 prior year, the company earned $1.34 earnings per share. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. Research analysts expect that ONEOK, Inc. will post 5.74 earnings per share for the current year.

ONEOK Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Monday, August 3rd were given a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend was Monday, August 3rd. ONEOK’s dividend payout ratio is currently 73.79%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Truist Financial upped their price target on shares of ONEOK from $93.00 to $104.00 and gave the company a “hold” rating in a report on Wednesday, September 2nd. Wells Fargo & Company raised their price objective on shares of ONEOK from $98.00 to $106.00 and gave the stock an “overweight” rating in a report on Wednesday, September 2nd. Royal Bank Of Canada boosted their target price on shares of ONEOK from $84.00 to $90.00 and gave the stock a “sector perform” rating in a research report on Tuesday, July 21st. JPMorgan Chase & Co. upped their target price on shares of ONEOK from $95.00 to $106.00 and gave the company a “neutral” rating in a research note on Tuesday, September 1st. Finally, Wall Street Zen raised shares of ONEOK from a “sell” rating to a “hold” rating in a research report on Sunday, August 9th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and twelve have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $96.62.

About ONEOK

ONEOK, Inc (NYSE: OKE) is an energy infrastructure company that gathers, processes, stores and transports natural gas and natural gas liquids (NGLs). Its operations connect production areas with domestic and international markets through pipelines, processing facilities, fractionation plants, storage assets and export infrastructure.

The company’s services include natural gas gathering and processing, interstate and intrastate natural gas transportation and storage, and the gathering, fractionation, storage and transportation of NGLs such as ethane, propane, normal butane, isobutane and natural gasoline.