Cyndeo Wealth Partners LLC Trims Stock Position in ONEOK, Inc. $OKE

Cyndeo Wealth Partners LLC trimmed its position in ONEOK, Inc. (NYSE:OKE) by 87.7% in the 2nd quarter, HoldingsChannel reports. The fund owned 10,501 shares of the utilities provider’s stock after selling 75,035 shares during the quarter. Cyndeo Wealth Partners LLC’s holdings in ONEOK were worth $857,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in OKE. First Pacific Financial purchased a new stake in ONEOK in the 1st quarter worth approximately $34,000. Financial Network Wealth Advisors LLC increased its holdings 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 acquiring an additional 370 shares in the last quarter. MorganRosel Wealth Management LLC purchased a new stake in ONEOK in the 1st quarter worth approximately $39,000. Financial Gravity Asset Management Inc. purchased a new stake in ONEOK in the 1st quarter worth approximately $40,000. Finally, Rakuten Securities Inc. increased its holdings in ONEOK by 152.1% in 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 in the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on OKE shares. Royal Bank Of Canada dropped their price target on ONEOK from $94.00 to $88.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 13th. JPMorgan Chase & Co. upped their price target on ONEOK from $94.00 to $97.00 and gave the stock an “overweight” rating in a research note on Thursday, July 3rd. TD Cowen started coverage on ONEOK in a research note on Monday, July 7th. They issued a “hold” rating and a $91.00 price target for the company. The Goldman Sachs Group started coverage on ONEOK in a research note on Tuesday, September 30th. They issued a “neutral” rating and a $75.00 price target for the company. Finally, Barclays dropped their price target on ONEOK from $83.00 to $78.00 and set an “equal weight” rating for the company in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $98.69.

ONEOK Stock Down 2.9%

NYSE OKE opened at $69.22 on Friday. 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 company has a market capitalization of $43.59 billion, a P/E ratio of 13.49, a P/E/G ratio of 1.75 and a beta of 1.01. ONEOK, Inc. has a one year low of $69.08 and a one year high of $118.07. The stock has a 50 day moving average price of $73.67 and a 200-day moving average price of $80.09.

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

ONEOK Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Friday, August 1st were given a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 6.0%. The ex-dividend date was Friday, August 1st. ONEOK’s dividend payout ratio is currently 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.