ONEOK, Inc. $OKE Shares Sold by Gateway Investment Advisers LLC

by · The Cerbat Gem

Gateway Investment Advisers LLC decreased its position in ONEOK, Inc. (NYSE:OKE – Free Report) by 0.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 231,652 shares of the utilities provider’s stock after selling 240 shares during the period. Gateway Investment Advisers LLC’s holdings in ONEOK were worth $18,910,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. First Pacific Financial purchased a new stake in shares of ONEOK in the 1st quarter valued at approximately $34,000. Vermillion Wealth Management Inc. purchased a new stake in shares of ONEOK in the 4th quarter valued at approximately $37,000. Financial Network Wealth Advisors LLC grew its stake in shares of ONEOK by 2,466.7% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 385 shares of the utilities provider’s stock valued at $38,000 after buying an additional 370 shares during the period. MorganRosel Wealth Management LLC purchased a new stake in shares of ONEOK in the 1st quarter valued at approximately $39,000. Finally, Financial Gravity Asset Management Inc. acquired a new position in shares of ONEOK in the 1st quarter worth approximately $40,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Analyst Upgrades and Downgrades

OKE has been the topic of several recent analyst reports. Raymond James Financial restated an “outperform” rating on shares of ONEOK in a report on Friday, August 1st. Barclays set a $83.00 price objective on shares of ONEOK in a report on Thursday, August 14th. Royal Bank Of Canada decreased their price objective on shares of ONEOK from $94.00 to $88.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 13th. JPMorgan Chase & Co. upped their price objective on shares of ONEOK from $94.00 to $97.00 and gave the stock an “overweight” rating in a report on Thursday, July 3rd. Finally, Morgan Stanley cut their target price on shares of ONEOK from $122.00 to $110.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $100.60.

Check Out Our Latest Stock Report on OKE

ONEOK Stock Performance

Shares of ONEOK stock opened at $72.55 on Wednesday. The firm’s fifty day simple moving average is $76.85 and its 200-day simple moving average is $82.90. ONEOK, Inc. has a 12 month low of $70.63 and a 12 month high of $118.07. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.59 and a quick ratio of 0.46. The stock has a market capitalization of $45.69 billion, a price-to-earnings ratio of 14.14, a PEG ratio of 1.73 and a beta of 1.04.

ONEOK (NYSE:OKE – Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The utilities provider reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.33 by $0.01. ONEOK had a net margin of 11.06% and a return on equity of 14.90%. The firm had revenue of $8.21 billion for the quarter, compared to analyst estimates of $7.20 billion. During the same period last year, the firm posted $1.33 EPS. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. As a group, equities analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Friday, August 1st were given a $1.03 dividend. The ex-dividend date was Friday, August 1st. This represents a $4.12 dividend on an annualized basis and a dividend yield of 5.7%. ONEOK’s dividend payout ratio (DPR) is currently 80.31%.

About ONEOK

(Free Report)

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.

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