ONEOK, Inc. $OKE Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. trimmed its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 35.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,713 shares of the utilities provider’s stock after selling 2,621 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in ONEOK were worth $385,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC boosted its holdings in ONEOK by 137.1% during the 4th quarter. Brighton Jones LLC now owns 15,278 shares of the utilities provider’s stock valued at $1,534,000 after acquiring an additional 8,834 shares during the period. Cambridge Investment Research Advisors Inc. boosted its holdings in ONEOK by 0.5% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 137,177 shares of the utilities provider’s stock valued at $13,611,000 after acquiring an additional 728 shares during the period. Oppenheimer Asset Management Inc. boosted its holdings in ONEOK by 10.4% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 38,556 shares of the utilities provider’s stock valued at $3,826,000 after acquiring an additional 3,638 shares during the period. Asset Management One Co. Ltd. boosted its holdings in ONEOK by 10.7% during the 1st quarter. Asset Management One Co. Ltd. now owns 287,465 shares of the utilities provider’s stock valued at $28,522,000 after acquiring an additional 27,901 shares during the period. Finally, Legacy Advisors LLC boosted its holdings in ONEOK by 157.1% during the 1st quarter. Legacy Advisors LLC now owns 6,277 shares of the utilities provider’s stock valued at $623,000 after acquiring an additional 3,836 shares during the period. 69.13% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently commented on OKE. Scotiabank set a $92.00 target price on ONEOK and gave the company a “sector outperform” rating in a report on Tuesday, July 15th. Mizuho lowered their target price on ONEOK from $87.00 to $82.00 and set a “neutral” rating for the company in a report on Friday, August 29th. The Goldman Sachs Group assumed coverage on ONEOK in a report on Tuesday, September 30th. They set a “neutral” rating and a $75.00 target price for the company. Royal Bank Of Canada decreased their price objective on ONEOK from $94.00 to $88.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 13th. Finally, Morgan Stanley decreased their price objective on ONEOK from $122.00 to $110.00 and set an “overweight” rating for the company in a research note on Tuesday, August 26th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $98.27.

ONEOK Stock Performance

Shares of OKE opened at $69.57 on Thursday. The stock has a 50-day simple moving average of $72.60 and a 200-day simple moving average of $78.57. The stock has a market capitalization of $43.81 billion, a PE ratio of 13.56, a PEG ratio of 1.69 and a beta of 1.01. ONEOK, Inc. has a 1 year low of $66.56 and a 1 year high of $118.07. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.46 and a current ratio of 0.59.

ONEOK (NYSE:OKE) last posted its earnings results on Monday, August 4th. The utilities provider reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.01. The firm had revenue of $8.21 billion during the quarter, compared to analysts’ expectations of $7.20 billion. ONEOK had a return on equity of 14.90% and a net margin of 11.06%.During the same quarter in the previous year, the business earned $1.33 earnings per share. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. On average, analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Monday, November 3rd will be paid a dividend of $1.03 per share. The ex-dividend date is Monday, November 3rd. This represents a $4.12 annualized dividend and a yield of 5.9%. ONEOK’s payout ratio is presently 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.