Sequoia Financial Advisors LLC Grows Stock Holdings in ONEOK, Inc. $OKE

Sequoia Financial Advisors LLC boosted its position in ONEOK, Inc. (NYSE:OKE) by 1.2% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 214,400 shares of the utilities provider’s stock after acquiring an additional 2,439 shares during the period. Sequoia Financial Advisors LLC’s holdings in ONEOK were worth $17,501,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in OKE. Vanguard Group Inc. boosted its holdings in shares of ONEOK by 7.2% in 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 last quarter. Nuveen LLC acquired a new position in shares of ONEOK in the 1st quarter valued at $440,535,000. Boston Partners acquired a new position in shares of ONEOK in the 1st quarter valued at $353,596,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of ONEOK by 13.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 20,957,230 shares of the utilities provider’s stock valued at $2,079,376,000 after purchasing an additional 2,542,449 shares during the last quarter. Finally, Wellington Management Group LLP boosted its holdings in shares of ONEOK by 51.9% in the 1st quarter. Wellington Management Group LLP now owns 6,388,987 shares of the utilities provider’s stock valued at $633,915,000 after purchasing an additional 2,182,081 shares during the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Raymond James Financial restated an “outperform” rating on shares of ONEOK in a report on Friday, August 1st. Mizuho reduced their target price on shares of ONEOK from $87.00 to $82.00 and set a “neutral” rating on the stock in a report on Friday, August 29th. Barclays reduced their target price on shares of ONEOK from $83.00 to $78.00 and set an “equal weight” rating on the stock in a report on Thursday. Scotiabank set a $92.00 target price on shares of ONEOK and gave the company a “sector outperform” rating in a report on Tuesday, July 15th. Finally, Royal Bank Of Canada reduced their target price 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. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $98.69.

ONEOK Stock Performance

Shares of OKE stock opened at $69.22 on Monday. ONEOK, Inc. has a 12 month low of $69.08 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 firm has a market capitalization of $43.59 billion, a P/E ratio of 13.49, a P/E/G ratio of 1.69 and a beta of 1.01. The company’s fifty day moving average price is $73.67 and its two-hundred day moving average price is $79.81.

ONEOK (NYSE:OKE) last issued its quarterly earnings data on Monday, August 4th. The utilities provider reported $1.34 EPS for the quarter, topping 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 quarter in the previous year, the business posted $1.33 EPS. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. On average, research analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Friday, August 1st were paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 6.0%. The ex-dividend date was Friday, August 1st. ONEOK’s dividend payout ratio is 80.31%.

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.