Soltis Investment Advisors LLC Makes New Investment in ONEOK, Inc. $OKE

Soltis Investment Advisors LLC acquired a new stake in shares of ONEOK, Inc. (NYSE:OKE) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 5,774 shares of the utilities provider’s stock, valued at approximately $471,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of OKE. Bogart Wealth LLC grew its holdings in ONEOK by 3.1% during the second quarter. Bogart Wealth LLC now owns 4,031 shares of the utilities provider’s stock valued at $329,000 after purchasing an additional 122 shares during the period. Presima Securities ULC lifted its position in shares of ONEOK by 1.4% during the 1st quarter. Presima Securities ULC now owns 9,477 shares of the utilities provider’s stock valued at $940,000 after buying an additional 127 shares in the last quarter. Clearstead Trust LLC grew its stake in shares of ONEOK by 5.0% during the 1st quarter. Clearstead Trust LLC now owns 2,792 shares of the utilities provider’s stock valued at $277,000 after acquiring an additional 133 shares during the period. Empowered Funds LLC increased its holdings in ONEOK by 0.8% in the 1st quarter. Empowered Funds LLC now owns 17,957 shares of the utilities provider’s stock worth $1,782,000 after acquiring an additional 137 shares in the last quarter. Finally, MJT & Associates Financial Advisory Group Inc. raised its stake in ONEOK by 5.8% during the 2nd quarter. MJT & Associates Financial Advisory Group Inc. now owns 2,540 shares of the utilities provider’s stock worth $207,000 after acquiring an additional 140 shares during the period. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. TD Cowen dropped their price target on shares of ONEOK from $78.00 to $76.00 and set a “hold” rating for the company in a research report on Thursday, October 30th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of ONEOK in a report on Wednesday, October 8th. Morgan Stanley decreased their price target on ONEOK from $122.00 to $110.00 and set an “overweight” rating on the stock in a report on Tuesday, August 26th. Citigroup dropped their price objective on ONEOK from $102.00 to $95.00 and set a “buy” rating for the company in a research note on Friday, October 31st. Finally, Argus upgraded ONEOK from a “hold” rating to a “buy” rating and set a $79.00 target price for the company in a research report on Thursday. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $91.94.

Insider Activity at ONEOK

In other ONEOK news, Director Brian L. Derksen bought 2,500 shares of ONEOK stock in a transaction dated Monday, November 3rd. The shares were purchased at an average cost of $66.00 per share, for a total transaction of $165,000.00. Following the acquisition, the director directly owned 21,200 shares in the company, valued at approximately $1,399,200. This represents a 13.37% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 0.21% of the stock is owned by insiders.

ONEOK Trading Up 0.5%

Shares of ONEOK stock opened at $68.15 on Friday. The company has a quick ratio of 0.46, a current ratio of 0.90 and a debt-to-equity ratio of 1.44. The firm has a market cap of $42.88 billion, a price-to-earnings ratio of 12.53, a PEG ratio of 2.62 and a beta of 1.05. ONEOK, Inc. has a twelve month low of $64.02 and a twelve month high of $118.07. The business has a 50-day moving average price of $70.92 and a 200-day moving average price of $77.25.

ONEOK (NYSE:OKE) last issued its quarterly earnings data on Tuesday, October 28th. The utilities provider reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.48 by $0.01. The business had revenue of $9.17 billion for the quarter, compared to analysts’ expectations of $8.23 billion. ONEOK had a return on equity of 15.12% and a net margin of 10.58%.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. Equities research analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Announces Dividend

The firm also recently disclosed 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. The ex-dividend date is Monday, November 3rd. This represents a $4.12 annualized dividend and a yield of 6.0%. ONEOK’s dividend payout ratio (DPR) is 75.74%.

About ONEOK

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.