Sagespring Wealth Partners LLC Cuts Stock Holdings in ONEOK, Inc. $OKE

Sagespring Wealth Partners LLC lowered its stake in shares of ONEOK, Inc. (NYSE:OKE) by 14.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,096 shares of the utilities provider’s stock after selling 1,026 shares during the period. Sagespring Wealth Partners LLC’s holdings in ONEOK were worth $498,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of OKE. First Pacific Financial purchased a new position in ONEOK during the first quarter worth approximately $34,000. Financial Network Wealth Advisors LLC raised its stake in ONEOK by 2,466.7% during the first quarter. Financial Network Wealth Advisors LLC now owns 385 shares of the utilities provider’s stock worth $38,000 after purchasing an additional 370 shares during the period. MorganRosel Wealth Management LLC purchased a new position in ONEOK during the first quarter worth approximately $39,000. Financial Gravity Asset Management Inc. purchased a new position in ONEOK during the first quarter worth approximately $40,000. Finally, Trust Co. of Toledo NA OH purchased a new position in ONEOK during the second quarter worth approximately $42,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Royal Bank Of Canada cut their target price on shares of ONEOK from $94.00 to $88.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 13th. JPMorgan Chase & Co. raised their target price on shares of ONEOK from $94.00 to $97.00 and gave the company an “overweight” rating in a research note on Thursday, July 3rd. Scotiabank set a $92.00 target price on shares of ONEOK and gave the company a “sector outperform” rating in a research note on Tuesday, July 15th. Morgan Stanley cut their target price on shares of ONEOK from $122.00 to $110.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 26th. Finally, Mizuho cut their target price on shares of ONEOK from $87.00 to $82.00 and set a “neutral” rating on the stock in a research note on Friday, August 29th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $98.27.

ONEOK Price Performance

OKE opened at $67.27 on Friday. The company has a fifty day simple moving average of $73.05 and a 200 day simple moving average of $79.24. The firm has a market cap of $42.36 billion, a price-to-earnings ratio of 13.11, a PEG ratio of 1.69 and a beta of 1.01. ONEOK, Inc. has a twelve month low of $67.09 and a twelve month high of $118.07. The company has a current ratio of 0.59, a quick ratio of 0.46 and a debt-to-equity ratio of 1.35.

ONEOK (NYSE:OKE) last released its quarterly earnings results 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 business had revenue of $8.21 billion during the quarter, compared to analyst estimates of $7.20 billion. ONEOK had a net margin of 11.06% and a return on equity of 14.90%. During the same period last year, the business earned $1.33 EPS. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. Equities research analysts expect that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Monday, November 3rd will be issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 6.1%. The ex-dividend date of this dividend is Monday, November 3rd. ONEOK’s dividend payout ratio (DPR) is currently 80.31%.

ONEOK 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.