HighTower Advisors LLC Sells 26,798 Shares of ONEOK, Inc. $OKE

HighTower Advisors LLC lessened its holdings in ONEOK, Inc. (NYSE:OKE) by 5.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 510,810 shares of the utilities provider’s stock after selling 26,798 shares during the quarter. HighTower Advisors LLC owned 0.08% of ONEOK worth $44,410,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Zions Bancorporation National Association UT increased its holdings in shares of ONEOK by 73.3% in the fourth 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 period. Pin Oak Investment Advisors Inc. purchased a new stake in ONEOK during the 2nd quarter valued at about $28,000. Elyxium Wealth LLC purchased a new stake in ONEOK during the 4th quarter valued at about $29,000. Cornerstone Financial Management LLC bought a new position in ONEOK during the 4th quarter worth approximately $29,000. Finally, Transamerica Financial Advisors LLC increased its stake in ONEOK by 69.6% in the 2nd quarter. Transamerica Financial Advisors LLC now owns 363 shares of the utilities provider’s stock worth $32,000 after purchasing an additional 149 shares during the period. 69.13% of the stock is owned by institutional investors.

ONEOK Stock Performance

Shares of OKE stock opened at $95.25 on Tuesday. The stock has a fifty day moving average of $91.80 and a 200 day moving average of $89.20. ONEOK, Inc. has a 52 week low of $64.02 and a 52 week high of $99.85. The firm has a market capitalization of $60.04 billion, a price-to-earnings ratio of 16.42, a PEG ratio of 2.66 and a beta of 0.74. The company has a quick ratio of 0.59, a current ratio of 0.74 and a debt-to-equity ratio of 1.34.

ONEOK (NYSE:OKE) last issued its quarterly earnings data on Monday, August 3rd. The utilities provider reported $1.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.07. ONEOK had a net margin of 9.29% and a return on equity of 16.41%. The business had revenue of $12.05 billion for the quarter, compared to the consensus estimate of $8.95 billion. During the same period in the previous year, the firm earned $1.34 EPS. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. As a group, research analysts expect that ONEOK, Inc. will post 5.84 earnings per share for the current year.

ONEOK Dividend Announcement

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

Analyst Ratings Changes

Several brokerages have weighed in on OKE. Morgan Stanley increased their price objective on ONEOK from $103.00 to $105.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 18th. Jefferies Financial Group lifted their target price on shares of ONEOK from $95.00 to $105.00 and gave the stock a “hold” rating in a research note on Wednesday, September 2nd. Wall Street Zen raised shares of ONEOK from a “sell” rating to a “hold” rating in a research report on Sunday, August 9th. JPMorgan Chase & Co. raised their price target on shares of ONEOK from $95.00 to $106.00 and gave the stock a “neutral” rating in a report on Tuesday, September 1st. Finally, Citigroup upped their price objective on shares of ONEOK from $97.00 to $108.00 and gave the company a “buy” rating in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $95.50.

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.