Gateway Wealth Partners LLC Sells 7,265 Shares of ONEOK, Inc. $OKE

Gateway Wealth Partners LLC decreased its position in shares of ONEOK, Inc. (NYSE:OKE) by 49.1% in the second quarter, HoldingsChannel reports. The firm owned 7,533 shares of the utilities provider’s stock after selling 7,265 shares during the quarter. Gateway Wealth Partners LLC’s holdings in ONEOK were worth $655,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Clearstead Trust LLC boosted its stake in ONEOK by 4.7% during the first quarter. Clearstead Trust LLC now owns 2,632 shares of the utilities provider’s stock valued at $238,000 after buying an additional 117 shares during the last quarter. Hoxton Planning & Management LLC grew its holdings in ONEOK by 2.3% during the 4th quarter. Hoxton Planning & Management LLC now owns 5,372 shares of the utilities provider’s stock valued at $395,000 after buying an additional 120 shares in the last quarter. Welch Group LLC increased its stake in ONEOK by 0.8% in the 1st quarter. Welch Group LLC now owns 14,859 shares of the utilities provider’s stock worth $1,343,000 after acquiring an additional 122 shares during the last quarter. Pine Valley Investments Ltd Liability Co increased its stake in ONEOK by 0.5% in the 1st quarter. Pine Valley Investments Ltd Liability Co now owns 26,261 shares of the utilities provider’s stock worth $2,374,000 after acquiring an additional 122 shares during the last quarter. Finally, FAS Wealth Partners Inc. raised its holdings in shares of ONEOK by 2.1% during the 1st quarter. FAS Wealth Partners Inc. now owns 6,057 shares of the utilities provider’s stock worth $548,000 after acquiring an additional 123 shares in the last quarter. 69.13% of the stock is owned by institutional investors.

ONEOK Stock Performance

Shares of NYSE:OKE opened at $94.99 on Friday. The company has a market capitalization of $59.88 billion, a price-to-earnings ratio of 16.38, a PEG ratio of 4.83 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 firm’s 50-day moving average is $89.48 and its 200 day moving average is $87.61. The company has a current ratio of 0.74, a quick ratio of 0.59 and a debt-to-equity ratio of 1.34.

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

ONEOK Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Raymond James Financial reiterated an “outperform” rating and set a $92.00 target price on shares of ONEOK in a research report on Thursday, April 30th. Weiss Ratings upgraded shares of ONEOK from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, May 18th. TD Cowen upped their price target on shares of ONEOK from $85.00 to $90.00 and gave the company a “hold” rating in a research note on Thursday, July 16th. Wells Fargo & Company lowered their price objective on shares of ONEOK from $100.00 to $98.00 and set an “overweight” rating for the company in a research report on Thursday, April 30th. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $103.00 price objective (down from $113.00) on shares of ONEOK in a research note on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $91.81.

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.