Moran Wealth Management LLC Cuts Stock Position in ONEOK, Inc. $OKE

Moran Wealth Management LLC cut its position in ONEOK, Inc. (NYSE:OKE) by 11.9% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 81,095 shares of the utilities provider’s stock after selling 10,918 shares during the quarter. Moran Wealth Management LLC’s holdings in ONEOK were worth $7,330,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Zions Bancorporation National Association UT grew its position in shares of ONEOK by 73.3% in the 4th quarter. Zions Bancorporation National Association UT now owns 338 shares of the utilities provider’s stock worth $25,000 after buying an additional 143 shares during the last quarter. Portus Wealth Advisors LLC purchased a new stake in ONEOK during the first quarter valued at approximately $33,000. Elyxium Wealth LLC purchased a new stake in ONEOK during the fourth quarter valued at approximately $29,000. Cornerstone Financial Management LLC acquired a new stake in ONEOK in the fourth quarter valued at approximately $29,000. Finally, SRH Advisors LLC grew its holdings in ONEOK by 122.3% in the fourth quarter. SRH Advisors LLC now owns 438 shares of the utilities provider’s stock worth $32,000 after purchasing an additional 241 shares during the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

ONEOK Trading Up 0.1%

Shares of ONEOK stock opened at $87.89 on Friday. The firm’s 50 day simple moving average is $88.59 and its two-hundred day simple moving average is $84.01. The firm has a market capitalization of $55.38 billion, a price-to-earnings ratio of 15.67, a PEG ratio of 6.57 and a beta of 0.73. ONEOK, Inc. has a 12-month low of $64.02 and a 12-month high of $96.07. The company has a current ratio of 0.71, a quick ratio of 0.56 and a debt-to-equity ratio of 1.37.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Tuesday, April 28th. The utilities provider reported $1.23 EPS for the quarter, missing the consensus estimate of $1.30 by ($0.07). The company had revenue of $9.62 billion for the quarter, compared to analyst estimates of $8.23 billion. ONEOK had a return on equity of 16.06% and a net margin of 10.03%.During the same quarter 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. Analysts predict that ONEOK, Inc. will post 5.72 EPS for the current year.

ONEOK Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on OKE. Barclays upped their price target on ONEOK from $82.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 30th. Weiss Ratings raised ONEOK from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, May 18th. Scotiabank downgraded ONEOK from a “sector outperform” rating to a “sector perform” rating and dropped their target price for the stock from $92.00 to $89.00 in a research note on Thursday, April 30th. Citigroup upped their target price on ONEOK from $95.00 to $97.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $92.00 price target on shares of ONEOK in a research note on Thursday, April 30th. Eight equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $91.88.

About ONEOK

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.