Moran Wealth Management LLC Lowers Stake in ONEOK, Inc. $OKE

Moran Wealth Management LLC cut its holdings in ONEOK, Inc. (NYSE:OKE) by 9.8% during the second quarter, HoldingsChannel reports. The firm owned 73,121 shares of the utilities provider’s stock after selling 7,974 shares during the period. Moran Wealth Management LLC’s holdings in ONEOK were worth $6,357,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in OKE. Vanguard Group Inc. increased its position in ONEOK by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 77,603,334 shares of the utilities provider’s stock valued at $5,703,845,000 after acquiring an additional 380,744 shares during the period. State Street Corp raised its stake in ONEOK by 1.7% during the 4th quarter. State Street Corp now owns 38,450,591 shares of the utilities provider’s stock valued at $2,826,118,000 after acquiring an additional 648,647 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in ONEOK by 2.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 22,634,512 shares of the utilities provider’s stock worth $1,663,637,000 after acquiring an additional 599,248 shares during the period. Geode Capital Management LLC lifted its position in ONEOK by 3.2% during the 4th quarter. Geode Capital Management LLC now owns 16,596,172 shares of the utilities provider’s stock worth $1,215,107,000 after acquiring an additional 518,746 shares during the period. Finally, First Eagle Investment Management LLC grew its stake in shares of ONEOK by 46.3% in the 4th quarter. First Eagle Investment Management LLC now owns 11,365,304 shares of the utilities provider’s stock valued at $835,350,000 after purchasing an additional 3,596,089 shares during the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on OKE shares. Truist Financial boosted their target price on ONEOK from $91.00 to $93.00 and gave the company a “hold” rating in a report on Monday, May 4th. Barclays lowered their price objective on shares of ONEOK from $90.00 to $88.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 8th. Wells Fargo & Company dropped their price objective on shares of ONEOK from $100.00 to $98.00 and set an “overweight” rating on the stock in a research note on Thursday, April 30th. JPMorgan Chase & Co. upped their price objective on shares of ONEOK from $91.00 to $92.00 and gave the stock a “neutral” rating in a research report on Friday, May 8th. Finally, Citigroup raised their target price on shares of ONEOK from $95.00 to $97.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat, ONEOK has a consensus rating of “Moderate Buy” and a consensus price target of $91.81.

ONEOK Stock Performance

NYSE OKE opened at $94.99 on Friday. The company has a current ratio of 0.74, a quick ratio of 0.59 and a debt-to-equity ratio of 1.34. The business’s 50 day moving average is $89.48 and its two-hundred day moving average is $87.61. ONEOK, Inc. has a 12-month low of $64.02 and a 12-month high of $96.07. The stock has a market capitalization of $59.88 billion, a price-to-earnings ratio of 16.38, a PEG ratio of 4.95 and a beta of 0.73.

ONEOK (NYSE:OKE) last issued its earnings results on Monday, August 3rd. The utilities provider reported $1.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.07. The business had revenue of $12.05 billion during the quarter, compared to the consensus estimate of $8.95 billion. ONEOK had a return on equity of 16.41% and a net margin of 9.29%.During the same period in the prior year, the business posted $1.34 EPS. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. Research analysts expect that ONEOK, Inc. will post 5.87 EPS for the current year.

ONEOK Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Monday, August 3rd were given a $1.07 dividend. The ex-dividend date was Monday, August 3rd. This represents a $4.28 annualized dividend and a yield of 4.5%. ONEOK’s dividend payout ratio is presently 73.79%.

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.