RFG Advisory LLC Decreases Stake in ONEOK, Inc. $OKE

RFG Advisory LLC cut its stake in shares of ONEOK, Inc. (NYSE:OKE) by 19.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,798 shares of the utilities provider’s stock after selling 6,652 shares during the quarter. RFG Advisory LLC’s holdings in ONEOK were worth $2,417,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Baird Financial Group Inc. grew its stake in ONEOK by 12.6% during the 2nd quarter. Baird Financial Group Inc. now owns 40,220 shares of the utilities provider’s stock valued at $3,497,000 after purchasing an additional 4,492 shares during the last quarter. Allworth Financial LP increased its holdings in ONEOK by 1.7% in the 2nd quarter. Allworth Financial LP now owns 133,142 shares of the utilities provider’s stock worth $11,575,000 after buying an additional 2,220 shares during the period. Arizona State Retirement System raised its position in ONEOK by 1.4% during the 2nd quarter. Arizona State Retirement System now owns 174,821 shares of the utilities provider’s stock worth $15,199,000 after buying an additional 2,423 shares during the last quarter. Empirical Finance LLC raised its position in ONEOK by 7.1% during the 2nd quarter. Empirical Finance LLC now owns 12,292 shares of the utilities provider’s stock worth $1,069,000 after buying an additional 813 shares during the last quarter. Finally, Nykredit A S acquired a new stake in ONEOK during the 2nd quarter valued at approximately $23,403,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on OKE. Freedom Capital upgraded shares of ONEOK from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 5th. Stifel Nicolaus began coverage on shares of ONEOK in a research report on Thursday. They set a “hold” rating and a $105.00 target price for the company. Truist Financial increased their price target on ONEOK from $93.00 to $104.00 and gave the stock a “hold” rating in a research report on Wednesday, September 2nd. US Capital Advisors lowered ONEOK from a “strong-buy” rating to a “moderate buy” rating in a research note on Thursday, August 20th. Finally, UBS Group set a $105.00 price objective on ONEOK in a report on Wednesday, September 2nd. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and twelve have given a Hold rating to the stock. Based on data from MarketBeat.com, ONEOK currently has a consensus rating of “Hold” and an average target price of $96.62.

ONEOK Stock Performance

Shares of NYSE OKE opened at $95.74 on Friday. The company’s fifty day moving average price is $92.38 and its 200 day moving average price is $89.40. ONEOK, Inc. has a 1 year low of $64.02 and a 1 year high of $99.85. The company has a market capitalization of $60.35 billion, a PE ratio of 16.51, a price-to-earnings-growth ratio of 2.72 and a beta of 0.74. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.59 and a current ratio of 0.74.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Monday, August 3rd. The utilities provider reported $1.53 EPS for the quarter, beating the consensus estimate of $1.46 by $0.07. The company had revenue of $12.05 billion for the quarter, compared to analyst estimates of $8.95 billion. ONEOK had a net margin of 9.29% and a return on equity of 16.41%. During the same quarter last year, the business earned $1.34 earnings per share. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. On average, research analysts predict that ONEOK, Inc. will post 5.74 earnings per share for the current year.

ONEOK Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Monday, August 3rd were paid a $1.07 dividend. This represents a $4.28 annualized dividend and a dividend yield of 4.5%. The ex-dividend date was Monday, August 3rd. ONEOK’s payout ratio is currently 73.79%.

About ONEOK

ONEOK, Inc (NYSE: OKE) is an energy infrastructure company that gathers, processes, stores and transports natural gas and natural gas liquids (NGLs). Its operations connect production areas with domestic and international markets through pipelines, processing facilities, fractionation plants, storage assets and export infrastructure.

The company’s services include natural gas gathering and processing, interstate and intrastate natural gas transportation and storage, and the gathering, fractionation, storage and transportation of NGLs such as ethane, propane, normal butane, isobutane and natural gasoline.