Highland Capital Management LLC Has $3.25 Million Stake in ONEOK, Inc. $OKE

Highland Capital Management LLC trimmed its stake in ONEOK, Inc. (NYSE:OKE) by 2.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 39,790 shares of the utilities provider’s stock after selling 847 shares during the period. Highland Capital Management LLC’s holdings in ONEOK were worth $3,248,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of OKE. First Pacific Financial acquired a new stake in ONEOK during the 1st quarter worth about $34,000. Financial Network Wealth Advisors LLC grew its holdings in ONEOK by 2,466.7% during the 1st quarter. Financial Network Wealth Advisors LLC now owns 385 shares of the utilities provider’s stock worth $38,000 after acquiring an additional 370 shares during the period. MorganRosel Wealth Management LLC acquired a new stake in ONEOK during the 1st quarter worth about $39,000. Financial Gravity Asset Management Inc. acquired a new stake in ONEOK during the 1st quarter worth about $40,000. Finally, Rakuten Securities Inc. grew its holdings in ONEOK by 152.1% during the 1st quarter. Rakuten Securities Inc. now owns 421 shares of the utilities provider’s stock worth $42,000 after acquiring an additional 254 shares during the period. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. TD Cowen assumed coverage on ONEOK in a report on Monday, July 7th. They set a “hold” rating and a $91.00 price target for the company. Weiss Ratings reissued a “hold (c+)” rating on shares of ONEOK in a research report on Saturday, September 27th. Royal Bank Of Canada cut 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 report on Wednesday, August 13th. Raymond James Financial reissued an “outperform” rating on shares of ONEOK in a research report on Friday, August 1st. Finally, JPMorgan Chase & Co. increased their price objective on shares of ONEOK from $94.00 to $97.00 and gave the stock an “overweight” rating in a research report on Thursday, July 3rd. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, ONEOK currently has an average rating of “Moderate Buy” and a consensus price target of $99.00.

ONEOK Price Performance

Shares of NYSE OKE opened at $72.88 on Friday. ONEOK, Inc. has a fifty-two week low of $70.63 and a fifty-two week high of $118.07. The stock has a market cap of $45.89 billion, a price-to-earnings ratio of 14.21, a PEG ratio of 1.79 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. The firm’s 50-day simple moving average is $74.69 and its 200 day simple moving average is $80.97.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Monday, August 4th. The utilities provider reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.01. ONEOK had a net margin of 11.06% and a return on equity of 14.90%. The business had revenue of $8.21 billion for the quarter, compared to analysts’ expectations of $7.20 billion. During the same quarter last year, the firm earned $1.33 EPS. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. As a group, research analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Friday, August 1st were given a $1.03 dividend. The ex-dividend date of this dividend was Friday, August 1st. This represents a $4.12 annualized dividend and a yield of 5.7%. ONEOK’s dividend payout ratio (DPR) is presently 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.