Amalgamated Bank Trims Stake in ONEOK, Inc. $OKE

Amalgamated Bank lowered its stake in ONEOK, Inc. (NYSE:OKE) by 0.5% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 120,753 shares of the utilities provider’s stock after selling 553 shares during the quarter. Amalgamated Bank’s holdings in ONEOK were worth $9,857,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of OKE. Brighton Jones LLC lifted its stake in ONEOK by 137.1% in the 4th quarter. Brighton Jones LLC now owns 15,278 shares of the utilities provider’s stock valued at $1,534,000 after buying an additional 8,834 shares in the last quarter. KBC Group NV lifted its stake in ONEOK by 2.4% in the 1st quarter. KBC Group NV now owns 49,716 shares of the utilities provider’s stock valued at $4,933,000 after buying an additional 1,160 shares in the last quarter. Mather Group LLC. lifted its stake in shares of ONEOK by 2.9% during the 1st quarter. Mather Group LLC. now owns 5,556 shares of the utilities provider’s stock worth $551,000 after purchasing an additional 155 shares during the period. DAVENPORT & Co LLC lifted its stake in shares of ONEOK by 13.2% during the 1st quarter. DAVENPORT & Co LLC now owns 111,719 shares of the utilities provider’s stock worth $11,084,000 after purchasing an additional 13,043 shares during the period. Finally, Rossby Financial LCC purchased a new position in shares of ONEOK during the 1st quarter worth $91,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Wall Street Analysts Forecast Growth

OKE has been the topic of a number of recent analyst reports. Raymond James Financial reissued an “outperform” rating and set a $82.00 price target (down previously from $100.00) on shares of ONEOK in a research note on Friday, October 24th. TD Cowen reduced their price target on ONEOK from $78.00 to $76.00 and set a “hold” rating on the stock in a research note on Thursday. Wells Fargo & Company reduced their price target on ONEOK from $90.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Thursday. Mizuho reduced their price target on ONEOK from $87.00 to $82.00 and set a “neutral” rating on the stock in a research note on Friday, August 29th. Finally, Morgan Stanley reduced their price target on ONEOK from $122.00 to $110.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 26th. 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 MarketBeat, ONEOK currently has an average rating of “Moderate Buy” and an average price target of $93.80.

ONEOK Stock Down 0.7%

Shares of NYSE OKE opened at $66.70 on Friday. ONEOK, Inc. has a 12-month low of $66.35 and a 12-month high of $118.07. The company has a market cap of $42.00 billion, a P/E ratio of 12.26, a P/E/G ratio of 2.62 and a beta of 1.01. The company has a current ratio of 0.90, a quick ratio of 0.46 and a debt-to-equity ratio of 1.44. The stock has a fifty day moving average price of $71.96 and a 200 day moving average price of $78.00.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Tuesday, October 28th. The utilities provider reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.48 by $0.01. ONEOK had a return on equity of 15.12% and a net margin of 10.58%.The firm had revenue of $9.17 billion during the quarter, compared to the consensus estimate of $8.23 billion. During the same period in the prior year, the firm earned $1.18 EPS. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. Research analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Monday, November 3rd will be issued a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 6.2%. The ex-dividend date is Monday, November 3rd. ONEOK’s dividend payout ratio is currently 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.