Sunbeam Capital Management LLC Cuts Stake in ONEOK, Inc. $OKE

Sunbeam Capital Management LLC decreased its holdings in ONEOK, Inc. (NYSE:OKE) by 9.9% in the second quarter, Holdings Channel.com reports. The firm owned 2,941 shares of the utilities provider’s stock after selling 324 shares during the period. Sunbeam Capital Management LLC’s holdings in ONEOK were worth $240,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. KLP Kapitalforvaltning AS raised its holdings in ONEOK by 7.5% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 253,347 shares of the utilities provider’s stock valued at $20,681,000 after buying an additional 17,700 shares during the last quarter. Tyche Wealth Partners LLC boosted its position in ONEOK by 167.5% during the 2nd quarter. Tyche Wealth Partners LLC now owns 14,135 shares of the utilities provider’s stock valued at $1,154,000 after buying an additional 8,850 shares during the period. Trueblood Wealth Management LLC boosted its position in ONEOK by 6.7% during the 2nd quarter. Trueblood Wealth Management LLC now owns 14,566 shares of the utilities provider’s stock valued at $1,189,000 after buying an additional 918 shares during the period. Heck Capital Advisors LLC boosted its position in ONEOK by 7.7% during the 2nd quarter. Heck Capital Advisors LLC now owns 4,347 shares of the utilities provider’s stock valued at $355,000 after buying an additional 311 shares during the period. Finally, Belpointe Asset Management LLC boosted its position in ONEOK by 6.4% during the 2nd quarter. Belpointe Asset Management LLC now owns 14,490 shares of the utilities provider’s stock valued at $1,183,000 after buying an additional 874 shares during the period. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Stock Down 0.2%

Shares of NYSE OKE opened at $72.72 on Tuesday. The company has a current ratio of 0.59, a quick ratio of 0.46 and a debt-to-equity ratio of 1.35. ONEOK, Inc. has a 12 month low of $70.63 and a 12 month high of $118.07. The firm has a market capitalization of $45.80 billion, a PE ratio of 14.18, a price-to-earnings-growth ratio of 1.79 and a beta of 1.01. The firm has a fifty day simple moving average of $74.50 and a two-hundred day simple moving average of $80.64.

ONEOK (NYSE:OKE) last issued its quarterly earnings data on Monday, August 4th. The utilities provider reported $1.34 EPS for the quarter, topping the consensus estimate of $1.33 by $0.01. ONEOK had a net margin of 11.06% and a return on equity of 14.90%. The business had revenue of $8.21 billion during the quarter, compared to analyst estimates of $7.20 billion. During the same period in the prior year, the business earned $1.33 EPS. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. Equities analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Friday, August 1st were paid a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 5.7%. The ex-dividend date was Friday, August 1st. ONEOK’s dividend payout ratio (DPR) is presently 80.31%.

Analyst Upgrades and Downgrades

OKE has been the subject of several analyst reports. TD Cowen initiated coverage on shares of ONEOK in a research report on Monday, July 7th. They set a “hold” rating and a $91.00 price target for the company. JPMorgan Chase & Co. increased their price target on shares of ONEOK from $94.00 to $97.00 and gave the company an “overweight” rating in a research report on Thursday, July 3rd. Barclays set a $83.00 price target on shares of ONEOK in a research report on Thursday, August 14th. Mizuho dropped their price target on shares of ONEOK from $87.00 to $82.00 and set a “neutral” rating for the company in a research report on Friday, August 29th. Finally, Royal Bank Of Canada decreased their price objective on shares of ONEOK from $94.00 to $88.00 and set a “sector perform” rating for the company in a report on Wednesday, August 13th. One 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 company. According to MarketBeat, ONEOK presently has an average rating of “Moderate Buy” and an average target price of $99.00.

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.