ONEOK, Inc. $OKE Shares Sold by Midwest Financial Group LLC

Midwest Financial Group LLC trimmed its position in ONEOK, Inc. (NYSE:OKE) by 1.4% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 33,505 shares of the utilities provider’s stock after selling 492 shares during the period. ONEOK accounts for about 1.4% of Midwest Financial Group LLC’s investment portfolio, making the stock its 21st biggest holding. Midwest Financial Group LLC’s holdings in ONEOK were worth $2,735,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. First Pacific Financial acquired a new stake in shares of ONEOK during the 1st quarter valued at approximately $34,000. Financial Network Wealth Advisors LLC increased 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 valued at $38,000 after purchasing an additional 370 shares during the last quarter. MorganRosel Wealth Management LLC bought a new stake in ONEOK during the first quarter valued at $39,000. Financial Gravity Asset Management Inc. acquired a new stake in shares of ONEOK during the first quarter worth $40,000. Finally, Rakuten Securities Inc. raised its holdings in shares of ONEOK by 152.1% during the first quarter. Rakuten Securities Inc. now owns 421 shares of the utilities provider’s stock worth $42,000 after purchasing an additional 254 shares during the period. Institutional investors and hedge funds own 69.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on OKE. Morgan Stanley lowered their price objective on shares of ONEOK from $122.00 to $110.00 and set an “overweight” rating for the company in a research report on Tuesday, August 26th. JPMorgan Chase & Co. lifted their target price on ONEOK from $94.00 to $97.00 and gave the company an “overweight” rating in a research note on Thursday, July 3rd. TD Cowen started coverage on ONEOK in a report on Monday, July 7th. They set a “hold” rating and a $91.00 target price for the company. Mizuho cut their price target on ONEOK from $87.00 to $82.00 and set a “neutral” rating on the stock in a report on Friday, August 29th. Finally, Raymond James Financial restated an “outperform” rating on shares of ONEOK in a research report on Friday, August 1st. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $99.00.

ONEOK Stock Performance

Shares of OKE stock opened at $72.99 on Wednesday. ONEOK, Inc. has a 12-month low of $70.63 and a 12-month high of $118.07. The firm has a market capitalization of $45.97 billion, a price-to-earnings ratio of 14.23, a price-to-earnings-growth ratio of 1.79 and a beta of 1.04. The business has a 50 day simple moving average of $75.23 and a 200 day simple moving average of $81.51. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.59 and a quick ratio of 0.46.

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

ONEOK Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Friday, August 1st were issued a $1.03 dividend. The ex-dividend date of this dividend was Friday, August 1st. This represents a $4.12 annualized dividend and a yield of 5.6%. ONEOK’s dividend payout ratio is presently 80.31%.

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.