ONEOK, Inc. $OKE Shares Sold by Trust Investment Advisors

Trust Investment Advisors cut its stake in ONEOK, Inc. (NYSE:OKE) by 4.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,634 shares of the utilities provider’s stock after selling 965 shares during the quarter. ONEOK makes up approximately 1.0% of Trust Investment Advisors’ portfolio, making the stock its 28th largest holding. Trust Investment Advisors’ holdings in ONEOK were worth $1,684,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Financial Network Wealth Advisors LLC raised its holdings in shares of ONEOK by 2,466.7% during the first quarter. Financial Network Wealth Advisors LLC now owns 385 shares of the utilities provider’s stock valued at $38,000 after acquiring an additional 370 shares during the last quarter. MorganRosel Wealth Management LLC purchased a new stake in shares of ONEOK during the first quarter worth approximately $39,000. Financial Gravity Asset Management Inc. acquired a new position in ONEOK in the 1st quarter valued at $40,000. Trust Co. of Toledo NA OH acquired a new position in ONEOK in the 2nd quarter valued at $42,000. Finally, Cheviot Value Management LLC purchased a new position in ONEOK in the 1st quarter valued at $46,000. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

ONEOK Stock Up 0.9%

Shares of NYSE:OKE opened at $69.23 on Tuesday. The firm has a market capitalization of $43.60 billion, a PE ratio of 13.50, a price-to-earnings-growth ratio of 2.68 and a beta of 1.01. ONEOK, Inc. has a 1 year low of $66.56 and a 1 year high of $118.07. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.59 and a quick ratio of 0.46. The firm’s 50-day moving average is $72.32 and its two-hundred day moving average is $78.27.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Monday, August 4th. The utilities provider reported $1.34 earnings per share 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 analysts’ expectations 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 business posted $1.33 earnings per share. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. Analysts predict that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Announces Dividend

The business also recently announced 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 6.0%. ONEOK’s dividend payout ratio (DPR) is 80.31%.

Analyst Ratings Changes

A number of research firms have recently issued reports on OKE. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of ONEOK in a report on Wednesday, October 8th. Raymond James Financial restated an “outperform” rating and set a $82.00 price target (down from $100.00) on shares of ONEOK in a research report on Friday. Barclays cut their price objective on shares of ONEOK from $83.00 to $78.00 and set an “equal weight” rating for the company in a report on Thursday, October 9th. The Goldman Sachs Group initiated coverage on shares of ONEOK in a research note on Tuesday, September 30th. They issued a “neutral” rating and a $75.00 target price on the stock. Finally, JPMorgan Chase & Co. upped their price target on ONEOK from $94.00 to $97.00 and gave the company an “overweight” rating in a research report on Thursday, July 3rd. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $96.40.

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.