ONEOK, Inc. $OKE Shares Sold by Burling Wealth Partners LLC

Burling Wealth Partners LLC lowered its holdings in ONEOK, Inc. (NYSE:OKE) by 14.1% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 25,744 shares of the utilities provider’s stock after selling 4,210 shares during the quarter. Burling Wealth Partners LLC’s holdings in ONEOK were worth $2,101,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Donoghue Forlines LLC raised its holdings in ONEOK by 13.6% during the second quarter. Donoghue Forlines LLC now owns 17,771 shares of the utilities provider’s stock worth $1,451,000 after purchasing an additional 2,126 shares in the last quarter. Intrua Financial LLC boosted its holdings in shares of ONEOK by 37.2% in the 2nd quarter. Intrua Financial LLC now owns 8,041 shares of the utilities provider’s stock valued at $656,000 after buying an additional 2,179 shares in the last quarter. Arvest Bank Trust Division grew its position in shares of ONEOK by 1.3% in the 2nd quarter. Arvest Bank Trust Division now owns 29,673 shares of the utilities provider’s stock valued at $2,422,000 after buying an additional 395 shares during the last quarter. Avalon Trust Co acquired a new stake in ONEOK during the 2nd quarter worth $302,000. Finally, Thompson Davis & CO. Inc. acquired a new stake in ONEOK during the 2nd quarter worth $204,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Price Performance

ONEOK stock opened at $69.38 on Friday. ONEOK, Inc. has a 12 month low of $64.02 and a 12 month high of $118.07. The company has a debt-to-equity ratio of 1.44, a current ratio of 0.90 and a quick ratio of 0.46. The business has a 50 day simple moving average of $70.44 and a 200-day simple moving average of $76.79. The stock has a market capitalization of $43.66 billion, a PE ratio of 12.75, a price-to-earnings-growth 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 for the quarter, beating analysts’ consensus estimates of $1.48 by $0.01. The firm had revenue of $8.63 billion for the quarter, compared to analyst estimates of $8.23 billion. ONEOK had a net margin of 10.58% and a return on equity of 15.12%. During the same period last year, the firm posted $1.18 EPS. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. Equities analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Monday, November 3rd will be issued a $1.03 dividend. The ex-dividend date of this dividend is Monday, November 3rd. This represents a $4.12 annualized dividend and a dividend yield of 5.9%. ONEOK’s payout ratio is presently 75.74%.

Insider Activity

In other ONEOK news, Director Brian L. Derksen bought 2,500 shares of the company’s stock in a transaction on Monday, November 3rd. The shares were bought at an average price of $66.00 per share, for a total transaction of $165,000.00. Following the transaction, the director owned 21,200 shares of the company’s stock, valued at approximately $1,399,200. This trade represents a 13.37% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.21% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on OKE. Argus upgraded shares of ONEOK from a “hold” rating to a “buy” rating and set a $79.00 price objective for the company in a research note on Thursday, November 6th. The Goldman Sachs Group reissued a “neutral” rating and issued a $72.00 target price on shares of ONEOK in a report on Monday, November 3rd. TD Cowen dropped their price target on ONEOK from $78.00 to $76.00 and set a “hold” rating on the stock in a research note on Thursday, October 30th. Citigroup cut their price target on ONEOK from $102.00 to $95.00 and set a “buy” rating on the stock in a research report on Friday, October 31st. Finally, Barclays decreased their price objective on ONEOK from $83.00 to $78.00 and set an “equal weight” rating for the company in a report on Thursday, October 9th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $91.94.

ONEOK Company 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.