Gateway Wealth Partners LLC Trims Stock Holdings in ONEOK, Inc. $OKE

Gateway Wealth Partners LLC lowered its stake in ONEOK, Inc. (NYSE:OKE) by 49.1% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,533 shares of the utilities provider’s stock after selling 7,265 shares during the quarter. Gateway Wealth Partners LLC’s holdings in ONEOK were worth $655,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Capital International Investors bought a new position in shares of ONEOK during the 4th quarter valued at approximately $586,500,000. Norges Bank bought a new stake in ONEOK during the 4th quarter worth approximately $564,867,000. First Eagle Investment Management LLC raised its stake in ONEOK by 46.3% during the 4th quarter. First Eagle Investment Management LLC now owns 11,365,304 shares of the utilities provider’s stock worth $835,350,000 after acquiring an additional 3,596,089 shares during the period. Danske Bank A S lifted its holdings in ONEOK by 3,538.4% during the fourth quarter. Danske Bank A S now owns 1,691,433 shares of the utilities provider’s stock valued at $124,320,000 after purchasing an additional 1,644,945 shares in the last quarter. Finally, Man Group plc lifted its holdings in ONEOK by 292.1% during the second quarter. Man Group plc now owns 1,558,993 shares of the utilities provider’s stock valued at $127,261,000 after purchasing an additional 1,161,352 shares in the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

ONEOK Stock Up 2.5%

NYSE OKE opened at $94.99 on Friday. The stock’s 50 day moving average is $89.48 and its 200 day moving average is $87.61. The company has a current ratio of 0.74, a quick ratio of 0.59 and a debt-to-equity ratio of 1.34. ONEOK, Inc. has a 12 month low of $64.02 and a 12 month high of $96.07. The stock has a market cap of $59.88 billion, a PE ratio of 16.38, a P/E/G ratio of 4.83 and a beta of 0.73.

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

ONEOK Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Monday, August 3rd were given a dividend of $1.07 per share. The ex-dividend date was Monday, August 3rd. This represents a $4.28 dividend on an annualized basis and a dividend yield of 4.5%. ONEOK’s dividend payout ratio is currently 73.79%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on OKE shares. JPMorgan Chase & Co. increased their price objective on shares of ONEOK from $91.00 to $92.00 and gave the stock a “neutral” rating in a research note on Friday, May 8th. Truist Financial raised their price objective on shares of ONEOK from $91.00 to $93.00 and gave the company a “hold” rating in a research report on Monday, May 4th. Weiss Ratings upgraded shares of ONEOK from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, May 18th. Scotiabank downgraded shares of ONEOK from a “sector outperform” rating to a “sector perform” rating and dropped their target price for the stock from $92.00 to $89.00 in a report on Thursday, April 30th. Finally, Freedom Capital upgraded ONEOK from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $91.81.

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.