Moran Wealth Management LLC Decreases Stake in ONEOK, Inc. $OKE

Moran Wealth Management LLC cut its stake in shares of ONEOK, Inc. (NYSE:OKE) by 9.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 73,121 shares of the utilities provider’s stock after selling 7,974 shares during the quarter. Moran Wealth Management LLC’s holdings in ONEOK were worth $6,357,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Brighton Jones LLC lifted its stake in ONEOK by 137.1% in the fourth quarter. Brighton Jones LLC now owns 15,278 shares of the utilities provider’s stock worth $1,534,000 after acquiring an additional 8,834 shares during the last quarter. Empowered Funds LLC increased its position in shares of ONEOK by 0.8% in the 1st quarter. Empowered Funds LLC now owns 17,957 shares of the utilities provider’s stock valued at $1,782,000 after purchasing an additional 137 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in shares of ONEOK in the 1st quarter valued at approximately $216,000. Federated Hermes Inc. raised its holdings in shares of ONEOK by 14.0% in the 2nd quarter. Federated Hermes Inc. now owns 3,120 shares of the utilities provider’s stock valued at $255,000 after purchasing an additional 383 shares in the last quarter. Finally, NewEdge Advisors LLC raised its holdings in shares of ONEOK by 3.9% in the 2nd quarter. NewEdge Advisors LLC now owns 130,347 shares of the utilities provider’s stock valued at $10,640,000 after purchasing an additional 4,902 shares in the last quarter. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

OKE has been the subject of a number of analyst reports. Truist Financial boosted their target price on shares of ONEOK from $91.00 to $93.00 and gave the stock a “hold” rating in a research note on Monday, May 4th. Raymond James Financial restated an “outperform” rating and issued a $92.00 price target on shares of ONEOK in a research note on Thursday, April 30th. Weiss Ratings raised ONEOK from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, May 18th. Citigroup upped their price objective on ONEOK from $95.00 to $97.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $103.00 price objective (down from $113.00) on shares of ONEOK in a report on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $91.81.

ONEOK Stock Up 2.5%

ONEOK stock opened at $94.99 on Friday. ONEOK, Inc. has a fifty-two week low of $64.02 and a fifty-two week high of $96.07. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.59 and a current ratio of 0.74. The company has a market capitalization of $59.88 billion, a P/E ratio of 16.38, a PEG ratio of 4.95 and a beta of 0.73. The stock has a 50-day simple moving average of $89.48 and a 200-day simple moving average of $87.61.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Monday, August 3rd. The utilities provider reported $1.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.07. The firm had revenue of $12.05 billion for the quarter, compared to the consensus estimate of $8.95 billion. ONEOK had a return on equity of 16.41% and a net margin of 9.29%.During the same quarter last year, the business posted $1.34 EPS. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. Equities research analysts expect that ONEOK, Inc. will post 5.87 earnings per share for the current year.

ONEOK Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Monday, August 3rd were issued a $1.07 dividend. This represents a $4.28 annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend was Monday, August 3rd. ONEOK’s dividend payout ratio is presently 73.79%.

ONEOK Profile

ONEOK, Inc (NYSE: OKE) is a publicly traded midstream energy company headquartered in Tulsa, Oklahoma. The company owns and operates a portfolio of natural gas and natural gas liquids (NGL) pipelines, processing facilities, fractionators and storage and terminal assets. Its operations are focused on gathering, processing, transporting, fractionating and marketing NGLs and interstate natural gas, providing critical infrastructure that connects hydrocarbon production to refineries, petrochemical plants and other end markets.

ONEOK’s asset base includes pipeline systems and processing plants that move and condition natural gas, along with infrastructure for the transportation, storage and fractionation of NGLs such as ethane, propane and butane.