ONEOK, Inc. $OKE Shares Sold by Avidian Wealth Enterprises LLC

Avidian Wealth Enterprises LLC cut its holdings in ONEOK, Inc. (NYSE:OKE) by 3.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,871 shares of the utilities provider’s stock after selling 443 shares during the quarter. Avidian Wealth Enterprises LLC’s holdings in ONEOK were worth $887,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. First Pacific Financial purchased a new stake in shares of ONEOK during the 1st quarter worth $34,000. Financial Network Wealth Advisors LLC lifted its stake in shares of ONEOK by 2,466.7% in the first quarter. Financial Network Wealth Advisors LLC now owns 385 shares of the utilities provider’s stock valued at $38,000 after purchasing an additional 370 shares during the period. MorganRosel Wealth Management LLC purchased a new stake in ONEOK during the first quarter worth about $39,000. Financial Gravity Asset Management Inc. acquired a new position in ONEOK during the first quarter worth about $40,000. Finally, Trust Co. of Toledo NA OH acquired a new position in ONEOK during the second quarter worth about $42,000. Institutional investors and hedge funds own 69.13% of the company’s stock.

Wall Street Analyst Weigh In

OKE has been the topic of several research analyst reports. Raymond James Financial reissued an “outperform” rating on shares of ONEOK in a research note on Friday, August 1st. Scotiabank set a $92.00 target price on ONEOK and gave the stock a “sector outperform” rating in a research report on Tuesday, July 15th. JPMorgan Chase & Co. raised 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. Royal Bank Of Canada decreased their price objective on shares of ONEOK from $94.00 to $88.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 13th. Finally, Barclays lowered their price objective 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, October 9th. One research 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 data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $98.27.

ONEOK Stock Performance

NYSE OKE opened at $68.93 on Wednesday. The business’s 50-day moving average price is $72.72 and its 200 day moving average price is $78.63. 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, Inc. has a twelve month low of $66.56 and a twelve month high of $118.07. The company has a market capitalization of $43.41 billion, a PE ratio of 13.44, a price-to-earnings-growth ratio of 1.68 and a beta of 1.01.

ONEOK (NYSE:OKE) last announced 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 company had revenue of $8.21 billion for 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 quarter last year, the business earned $1.33 EPS. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. On average, research analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Monday, November 3rd will be given a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 6.0%. The ex-dividend date of this dividend is Monday, November 3rd. ONEOK’s payout ratio is 80.31%.

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.