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

Revolve Wealth Partners LLC trimmed its stake in ONEOK, Inc. (NYSE:OKE) by 5.0% during the second quarter, Holdings Channel.com reports. The fund owned 5,417 shares of the utilities provider’s stock after selling 283 shares during the period. Revolve Wealth Partners LLC’s holdings in ONEOK were worth $442,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Dark Forest Capital Management LP raised its stake in shares of ONEOK by 409.5% in the 1st quarter. Dark Forest Capital Management LP now owns 40,372 shares of the utilities provider’s stock valued at $4,006,000 after acquiring an additional 32,448 shares during the period. Kentucky Retirement Systems Insurance Trust Fund increased its stake in ONEOK by 146.9% during the 1st quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 18,033 shares of the utilities provider’s stock worth $1,789,000 after buying an additional 10,728 shares during the period. Advisor Resource Council purchased a new stake in ONEOK during the 1st quarter worth approximately $511,000. Andrew Hill Investment Advisors Inc. purchased a new stake in ONEOK during the 2nd quarter worth approximately $3,671,000. Finally, Banco Santander S.A. increased its stake in ONEOK by 22.2% during the 1st quarter. Banco Santander S.A. now owns 26,824 shares of the utilities provider’s stock worth $2,661,000 after buying an additional 4,880 shares during the period. 69.13% of the stock is owned by hedge funds and other institutional investors.

ONEOK Trading Up 0.7%

NYSE OKE opened at $69.60 on Tuesday. The company has a quick ratio of 0.46, a current ratio of 0.59 and a debt-to-equity ratio of 1.35. ONEOK, Inc. has a 52 week low of $69.05 and a 52 week high of $118.07. The stock has a market capitalization of $43.83 billion, a PE ratio of 13.57, a price-to-earnings-growth ratio of 1.69 and a beta of 1.01. The firm has a 50 day moving average of $73.47 and a two-hundred day moving average of $79.61.

ONEOK (NYSE:OKE) last posted its quarterly earnings results on Monday, August 4th. The utilities provider reported $1.34 EPS for the quarter, topping the consensus estimate of $1.33 by $0.01. ONEOK had a net margin of 11.06% and a return on equity of 14.90%. The company had revenue of $8.21 billion during the quarter, compared to analysts’ expectations of $7.20 billion. During the same quarter in the previous year, the business posted $1.33 EPS. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. As a group, research 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 issued a $1.03 dividend. The ex-dividend date was Friday, August 1st. This represents a $4.12 annualized dividend and a dividend yield of 5.9%. ONEOK’s dividend payout ratio is presently 80.31%.

Analysts Set New Price Targets

Several brokerages recently weighed in on OKE. The Goldman Sachs Group began coverage on shares of ONEOK in a research note on Tuesday, September 30th. They set a “neutral” rating and a $75.00 target price on the stock. Barclays cut their target price on shares of ONEOK from $83.00 to $78.00 and set an “equal weight” rating on the stock in a research note on Thursday. JPMorgan Chase & Co. upped their target price on shares of ONEOK from $94.00 to $97.00 and gave the stock an “overweight” rating in a research note on Thursday, July 3rd. Raymond James Financial reaffirmed an “outperform” rating on shares of ONEOK in a research note on Friday, August 1st. Finally, Scotiabank set a $92.00 target price on shares of ONEOK and gave the stock a “sector outperform” rating in a research note on Tuesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, ONEOK presently has a consensus rating of “Moderate Buy” and an average target price of $98.69.

ONEOK Company Profile

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.