U.S. Capital Wealth Advisors LLC Trims Holdings in ONEOK, Inc. $OKE

U.S. Capital Wealth Advisors LLC lowered its stake in ONEOK, Inc. (NYSE:OKE) by 8.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 106,499 shares of the utilities provider’s stock after selling 10,222 shares during the quarter. U.S. Capital Wealth Advisors LLC’s holdings in ONEOK were worth $7,771,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Assetmark Inc. raised its holdings in shares of ONEOK by 84.0% in the 2nd quarter. Assetmark Inc. now owns 4,047 shares of the utilities provider’s stock valued at $330,000 after acquiring an additional 1,848 shares in the last quarter. Morningstar Investment Management LLC grew its holdings in shares of ONEOK by 18.2% during the second quarter. Morningstar Investment Management LLC now owns 27,375 shares of the utilities provider’s stock worth $2,235,000 after purchasing an additional 4,206 shares in the last quarter. Meixler Investment Management Ltd. increased its position in shares of ONEOK by 134.0% in the second quarter. Meixler Investment Management Ltd. now owns 30,937 shares of the utilities provider’s stock worth $2,525,000 after purchasing an additional 17,714 shares during the last quarter. Balefire LLC purchased a new position in ONEOK in the second quarter worth $973,000. Finally, Dark Forest Capital Management LP increased its stake in ONEOK by 409.5% in the first quarter. Dark Forest Capital Management LP now owns 40,372 shares of the utilities provider’s stock valued at $4,006,000 after acquiring an additional 32,448 shares during the last quarter. 69.13% of the stock is currently owned by institutional investors.

Insider Activity at ONEOK

In other news, Director Brian L. Derksen purchased 2,500 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The shares were bought at an average cost of $66.00 per share, for a total transaction 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 position. 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 insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on OKE shares. Barclays dropped their price target on ONEOK from $83.00 to $78.00 and set an “equal weight” rating for the company in a research note on Thursday, October 9th. Raymond James Financial reiterated an “outperform” rating and issued a $82.00 price objective (down previously from $100.00) on shares of ONEOK in a research report on Friday, October 24th. Argus raised 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. 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 report on Friday, August 29th. Finally, Citigroup lowered their price objective on shares of ONEOK from $102.00 to $95.00 and set a “buy” rating for the company in a research note on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $88.00.

ONEOK Stock Down 0.0%

Shares of NYSE OKE opened at $71.68 on Friday. The firm has a fifty day simple moving average of $70.32 and a two-hundred day simple moving average of $74.89. The firm has a market capitalization of $45.11 billion, a PE ratio of 13.18, a price-to-earnings-growth ratio of 4.38 and a beta of 0.95. The company has a current ratio of 0.90, a quick ratio of 0.75 and a debt-to-equity ratio of 1.44. ONEOK, Inc. has a 12 month low of $64.02 and a 12 month high of $111.02.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Tuesday, October 28th. The utilities provider reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.48 by $0.01. ONEOK had a net margin of 10.58% and a return on equity of 15.12%. The company had revenue of $8.63 billion for the quarter, compared to analysts’ expectations of $8.23 billion. During the same quarter in the previous year, the company earned $1.18 earnings per share. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. Equities analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Monday, November 3rd were given a $1.03 dividend. The ex-dividend date of this dividend was Monday, November 3rd. This represents a $4.12 annualized dividend and a dividend yield of 5.7%. ONEOK’s dividend payout ratio is currently 75.74%.

ONEOK Company Profile

ONEOK, Inc (NYSE: OKE) is a publicly traded midstream energy company headquartered in Tulsa, Oklahoma. The company owns and operates a portfolio of natural gas and natural gas liquids (NGL) pipelines, processing facilities, fractionators and storage and terminal assets. Its operations are focused on gathering, processing, transporting, fractionating and marketing NGLs and interstate natural gas, providing critical infrastructure that connects hydrocarbon production to refineries, petrochemical plants and other end markets.

ONEOK’s asset base includes pipeline systems and processing plants that move and condition natural gas, along with infrastructure for the transportation, storage and fractionation of NGLs such as ethane, propane and butane.