ONEOK, Inc. $OKE Shares Sold by Pinion Investment Advisors LLC

Pinion Investment Advisors LLC lowered its position in shares of ONEOK, Inc. (NYSE:OKE) by 48.4% during the second quarter, Holdings Channel reports. The fund owned 12,382 shares of the utilities provider’s stock after selling 11,610 shares during the quarter. Pinion Investment Advisors LLC’s holdings in ONEOK were worth $1,011,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of OKE. First Pacific Financial acquired a new position in shares of ONEOK in the 1st quarter valued at $34,000. Financial Network Wealth Advisors LLC boosted its holdings 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 acquired a new position in shares of ONEOK in the 1st quarter valued at $39,000. Financial Gravity Asset Management Inc. acquired a new position in shares of ONEOK in the 1st quarter valued at $40,000. Finally, Rakuten Securities Inc. boosted its holdings in shares of ONEOK by 152.1% in the 1st quarter. Rakuten Securities Inc. now owns 421 shares of the utilities provider’s stock valued at $42,000 after purchasing an additional 254 shares during the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Price Performance

OKE opened at $71.32 on Friday. The company has a 50-day moving average of $73.87 and a 200-day moving average of $80.32. The company has a market capitalization of $44.91 billion, a P/E ratio of 13.90, a PEG ratio of 1.78 and a beta of 1.01. ONEOK, Inc. has a 1-year low of $70.63 and a 1-year high of $118.07. 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 released its earnings results on Monday, August 4th. The utilities provider reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.01. The company had revenue of $8.21 billion during the quarter, compared to the consensus estimate of $7.20 billion. ONEOK had a net margin of 11.06% and a return on equity of 14.90%. During the same quarter in the previous year, the firm earned $1.33 EPS. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. Equities analysts expect that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Stockholders 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 dividend yield of 5.8%. ONEOK’s payout ratio is presently 80.31%.

Analyst Ratings Changes

OKE has been the topic of a number of research analyst reports. Barclays decreased their price target on shares of ONEOK from $83.00 to $78.00 and set an “equal weight” rating on the stock in a report on Thursday. Weiss Ratings restated a “hold (c+)” rating on shares of ONEOK in a report on Wednesday. Royal Bank Of Canada reduced their target price on shares of ONEOK from $94.00 to $88.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 13th. JPMorgan Chase & Co. lifted their target price on shares of ONEOK from $94.00 to $97.00 and gave the company an “overweight” rating in a report on Thursday, July 3rd. Finally, Morgan Stanley reduced their target price on shares of ONEOK from $122.00 to $110.00 and set an “overweight” rating on the stock in a report on Tuesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, ONEOK currently has an average rating of “Moderate Buy” and an average price target of $98.69.

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.