LifeWealth Investments LLC Sells 315 Shares of ONEOK, Inc. $OKE

LifeWealth Investments LLC decreased its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 6.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,421 shares of the utilities provider’s stock after selling 315 shares during the period. LifeWealth Investments LLC’s holdings in ONEOK were worth $361,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Morningstar Investment Management LLC raised its position in ONEOK by 18.2% during the 2nd quarter. Morningstar Investment Management LLC now owns 27,375 shares of the utilities provider’s stock valued at $2,235,000 after purchasing an additional 4,206 shares during the last quarter. Dark Forest Capital Management LP raised its position in ONEOK by 409.5% during the 1st quarter. Dark Forest Capital Management LP now owns 40,372 shares of the utilities provider’s stock valued at $4,006,000 after purchasing an additional 32,448 shares during the last quarter. Andrew Hill Investment Advisors Inc. bought a new position in ONEOK during the 2nd quarter valued at approximately $3,671,000. Banco Santander S.A. raised its position in ONEOK by 22.2% during the 1st quarter. Banco Santander S.A. now owns 26,824 shares of the utilities provider’s stock valued at $2,661,000 after purchasing an additional 4,880 shares during the last quarter. Finally, Amundi raised its position in ONEOK by 27.7% during the 1st quarter. Amundi now owns 5,242,524 shares of the utilities provider’s stock valued at $485,982,000 after purchasing an additional 1,136,928 shares during the last quarter. Institutional investors own 69.13% of the company’s stock.

ONEOK Stock Performance

ONEOK stock opened at $69.84 on Friday. The company has a quick ratio of 0.46, a current ratio of 0.59 and a debt-to-equity ratio of 1.35. The company has a market capitalization of $43.98 billion, a P/E ratio of 13.61, a PEG ratio of 2.72 and a beta of 1.01. The stock’s 50 day moving average is $72.50 and its 200 day moving average is $78.49. ONEOK, Inc. has a twelve month low of $66.56 and a twelve month high of $118.07.

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

ONEOK Announces Dividend

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 paid a $1.03 dividend. The ex-dividend date is Monday, November 3rd. This represents a $4.12 annualized dividend and a dividend yield of 5.9%. ONEOK’s dividend payout ratio is presently 80.31%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on OKE. The Goldman Sachs Group began coverage on ONEOK in a research report on Tuesday, September 30th. They issued a “neutral” rating and a $75.00 target price for the company. Raymond James Financial reissued an “outperform” rating on shares of ONEOK in a research report on Friday, August 1st. Morgan Stanley decreased their target price on ONEOK from $122.00 to $110.00 and set an “overweight” rating for the company in a research report on Tuesday, August 26th. TD Cowen began coverage on ONEOK in a research report on Monday, July 7th. They issued a “hold” rating and a $91.00 target price for the company. Finally, JPMorgan Chase & Co. increased their target price on ONEOK from $94.00 to $97.00 and gave the stock an “overweight” rating in a research report on Thursday, July 3rd. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, ONEOK currently has a consensus rating of “Moderate Buy” and a consensus target price of $98.27.

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.