RWA Wealth Partners LLC Sells 1,171 Shares of ONEOK, Inc. $OKE

RWA Wealth Partners LLC reduced its holdings in ONEOK, Inc. (NYSE:OKE) by 3.2% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 35,716 shares of the utilities provider’s stock after selling 1,171 shares during the quarter. RWA Wealth Partners LLC’s holdings in ONEOK were worth $2,916,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Financial Network Wealth Advisors LLC increased its holdings in ONEOK by 2,466.7% in the first quarter. Financial Network Wealth Advisors LLC now owns 385 shares of the utilities provider’s stock valued at $38,000 after purchasing an additional 370 shares during the period. Access Investment Management LLC acquired a new position in ONEOK during the 2nd quarter worth about $33,000. Cheviot Value Management LLC bought a new stake in shares of ONEOK in the 1st quarter valued at about $46,000. Trust Co. of Toledo NA OH acquired a new stake in shares of ONEOK in the second quarter valued at about $42,000. Finally, IMA Advisory Services Inc. bought a new position in shares of ONEOK during the first quarter worth about $57,000. Institutional investors and hedge funds own 69.13% of the company’s stock.

Insider Activity at ONEOK

In other news, Director Brian L. Derksen bought 2,500 shares of the stock in a transaction dated Monday, November 3rd. The shares were bought at an average cost of $66.00 per share, with a total value of $165,000.00. Following the completion of the transaction, the director directly owned 21,200 shares of the company’s stock, valued at $1,399,200. This trade represents a 13.37% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.21% of the stock is currently owned by corporate insiders.

ONEOK Trading Up 0.5%

NYSE:OKE opened at $68.15 on Friday. ONEOK, Inc. has a 12 month low of $64.02 and a 12 month high of $118.07. The company has a current ratio of 0.90, a quick ratio of 0.46 and a debt-to-equity ratio of 1.44. The stock has a market capitalization of $42.88 billion, a price-to-earnings ratio of 12.53, a PEG ratio of 2.62 and a beta of 1.05. The firm has a fifty day simple moving average of $70.92 and a two-hundred day simple moving average of $77.21.

ONEOK (NYSE:OKE) last released 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 company had revenue of $9.17 billion for the quarter, compared to analysts’ expectations of $8.23 billion. ONEOK had a net margin of 10.58% and a return on equity of 15.12%. During the same quarter in the prior year, the firm earned $1.18 EPS. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. Analysts expect that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Monday, November 3rd will be paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 6.0%. The ex-dividend date of this dividend is Monday, November 3rd. ONEOK’s dividend payout ratio (DPR) is 75.74%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on OKE. Morgan Stanley decreased their target price on shares of 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 decreased their price objective on shares of ONEOK from $78.00 to $76.00 and set a “hold” rating for the company in a research report on Thursday, October 30th. Scotiabank lowered their target price on shares of ONEOK from $88.00 to $87.00 and set a “sector outperform” rating for the company in a research note on Tuesday, November 4th. Mizuho cut their price target on shares of ONEOK from $87.00 to $82.00 and set a “neutral” rating on the stock in a research report on Friday, August 29th. Finally, Stifel Nicolaus set a $94.00 price target on ONEOK in a report on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $91.94.

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.