Sound Income Strategies LLC Sells 6,473 Shares of ONEOK, Inc. $OKE

Sound Income Strategies LLC lowered its stake in ONEOK, Inc. (NYSE:OKE) by 4.0% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 153,544 shares of the utilities provider’s stock after selling 6,473 shares during the quarter. Sound Income Strategies LLC’s holdings in ONEOK were worth $13,414,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Zions Bancorporation National Association UT raised its holdings in ONEOK by 73.3% during the 4th quarter. Zions Bancorporation National Association UT now owns 338 shares of the utilities provider’s stock valued at $25,000 after buying an additional 143 shares during the last quarter. Elyxium Wealth LLC bought a new stake in ONEOK in the 4th quarter worth $29,000. Cornerstone Financial Management LLC purchased a new position in shares of ONEOK in the fourth quarter valued at about $29,000. SRH Advisors LLC raised its stake in shares of ONEOK by 122.3% during the fourth quarter. SRH Advisors LLC now owns 438 shares of the utilities provider’s stock valued at $32,000 after acquiring an additional 241 shares during the last quarter. Finally, Portus Wealth Advisors LLC bought a new position in shares of ONEOK during the first quarter valued at about $33,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Price Performance

OKE stock opened at $87.89 on Friday. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.71 and a quick ratio of 0.56. ONEOK, Inc. has a 1 year low of $64.02 and a 1 year high of $96.07. The firm has a 50-day moving average of $88.56 and a 200 day moving average of $83.98. The company has a market cap of $55.38 billion, a P/E ratio of 15.67, a PEG ratio of 6.41 and a beta of 0.73.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Tuesday, April 28th. The utilities provider reported $1.23 earnings per share for the quarter, missing the consensus estimate of $1.30 by ($0.07). ONEOK had a net margin of 10.03% and a return on equity of 16.06%. The firm had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $8.23 billion. During the same period in the previous year, the firm posted $1.04 earnings per share. ONEOK has set its FY 2026 guidance at 5.530-5.530 EPS. On average, sell-side analysts forecast that ONEOK, Inc. will post 5.72 EPS for the current year.

ONEOK Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Monday, May 4th were given a dividend of $1.07 per share. The ex-dividend date was Monday, May 4th. This represents a $4.28 annualized dividend and a dividend yield of 4.9%. ONEOK’s payout ratio is currently 76.29%.

Analyst Upgrades and Downgrades

OKE has been the topic of a number of research analyst reports. Wall Street Zen upgraded ONEOK from a “sell” rating to a “hold” rating in a report on Tuesday, May 26th. Scotiabank lowered ONEOK from a “sector outperform” rating to a “sector perform” rating and cut their price objective for the stock from $92.00 to $89.00 in a research report on Thursday, April 30th. Royal Bank Of Canada boosted their target price on ONEOK from $79.00 to $84.00 and gave the company a “sector perform” rating in a research note on Thursday, March 19th. Wells Fargo & Company decreased their target price on ONEOK from $100.00 to $98.00 and set an “overweight” rating for the company in a report on Thursday, April 30th. Finally, Freedom Capital raised ONEOK from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 5th. Eight investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $91.88.

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.