Meridian Wealth Advisors LLC Trims Stock Holdings in ONEOK, Inc. $OKE

Meridian Wealth Advisors LLC decreased its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 26.7% during the second quarter, HoldingsChannel reports. The fund owned 3,176 shares of the utilities provider’s stock after selling 1,154 shares during the quarter. Meridian Wealth Advisors LLC’s holdings in ONEOK were worth $259,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of ONEOK by 7.2% during the 1st quarter. Vanguard Group Inc. now owns 75,196,969 shares of the utilities provider’s stock valued at $7,461,043,000 after purchasing an additional 5,076,705 shares during the period. Nuveen LLC purchased a new position in ONEOK during the 1st quarter valued at about $440,535,000. Boston Partners bought a new stake in shares of ONEOK during the first quarter valued at about $353,596,000. First Eagle Investment Management LLC increased its position in shares of ONEOK by 130.8% during the second quarter. First Eagle Investment Management LLC now owns 6,256,173 shares of the utilities provider’s stock valued at $510,691,000 after buying an additional 3,545,256 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of ONEOK by 13.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 20,957,230 shares of the utilities provider’s stock worth $2,079,376,000 after buying an additional 2,542,449 shares in the last quarter. 69.13% of the stock is owned by institutional investors.

ONEOK Stock Up 1.1%

OKE opened at $70.52 on Friday. The business’s fifty day simple moving average is $70.09 and its 200 day simple moving average is $76.22. ONEOK, Inc. has a 52 week low of $64.02 and a 52 week high of $118.07. 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 stock has a market cap of $44.37 billion, a PE ratio of 12.96, a P/E/G ratio of 2.62 and a beta of 1.05.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Tuesday, October 28th. The utilities provider reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.48 by $0.01. The firm had revenue of $8.63 billion during 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 business earned $1.18 EPS. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. As a group, research analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Monday, November 3rd were paid a $1.03 dividend. The ex-dividend date of this dividend was Monday, November 3rd. This represents a $4.12 annualized dividend and a yield of 5.8%. ONEOK’s dividend payout ratio is currently 75.74%.

Insider Buying and Selling

In other ONEOK news, Director Brian L. Derksen purchased 2,500 shares of the firm’s stock in a transaction on Monday, November 3rd. The shares were purchased at an average cost of $66.00 per share, with a total value of $165,000.00. Following the completion of the purchase, the director owned 21,200 shares of the company’s stock, valued at $1,399,200. The trade was a 13.37% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.21% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Morgan Stanley reduced their price objective on shares of ONEOK from $122.00 to $110.00 and set an “overweight” rating for the company in a research note on Tuesday, August 26th. Barclays reduced their price target on shares of ONEOK from $83.00 to $78.00 and set an “equal weight” rating for the company in a research report on Thursday, October 9th. Argus upgraded ONEOK from a “hold” rating to a “buy” rating and set a $79.00 price objective on the stock in a research report on Thursday, November 6th. Royal Bank Of Canada reduced their target price on ONEOK from $94.00 to $88.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 13th. Finally, Mizuho lowered 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. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $89.27.

ONEOK Profile

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.