Segment Wealth Management LLC Sells 875 Shares of ONEOK, Inc. $OKE

Segment Wealth Management LLC trimmed its holdings in ONEOK, Inc. (NYSE:OKE) by 2.0% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 43,370 shares of the utilities provider’s stock after selling 875 shares during the quarter. Segment Wealth Management LLC’s holdings in ONEOK were worth $3,540,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Greenwood Capital Associates LLC grew its position in ONEOK by 8.9% in the second quarter. Greenwood Capital Associates LLC now owns 24,012 shares of the utilities provider’s stock worth $1,960,000 after acquiring an additional 1,954 shares in the last quarter. Hudson Edge Investment Partners Inc. grew its position in ONEOK by 23.9% in the second quarter. Hudson Edge Investment Partners Inc. now owns 65,385 shares of the utilities provider’s stock worth $5,337,000 after acquiring an additional 12,625 shares in the last quarter. Hilltop National Bank bought a new stake in shares of ONEOK during the 2nd quarter worth $1,061,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of ONEOK by 9.7% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 658,947 shares of the utilities provider’s stock worth $53,790,000 after buying an additional 58,227 shares during the period. Finally, Cornell Pochily Investment Advisors Inc. boosted its holdings in shares of ONEOK by 27.2% during the 2nd quarter. Cornell Pochily Investment Advisors Inc. now owns 8,953 shares of the utilities provider’s stock worth $731,000 after buying an additional 1,915 shares during the period. 69.13% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Royal Bank Of Canada decreased their price objective on shares of ONEOK from $94.00 to $88.00 and set a “sector perform” rating for the company in a report on Wednesday, August 13th. Morgan Stanley decreased their price objective on shares of ONEOK from $122.00 to $110.00 and set an “overweight” rating for the company in a report on Tuesday, August 26th. Scotiabank set a $92.00 price objective on shares of ONEOK and gave the stock a “sector outperform” rating in a report on Tuesday, July 15th. Mizuho decreased their price objective on shares of ONEOK from $87.00 to $82.00 and set a “neutral” rating for the company in a report on Friday, August 29th. Finally, TD Cowen assumed coverage on shares of ONEOK in a report on Monday, July 7th. They set a “hold” rating and a $91.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $99.00.

ONEOK Price Performance

NYSE:OKE opened at $72.88 on Friday. The stock has a market cap of $45.89 billion, a P/E ratio of 14.21, a PEG ratio of 1.78 and a beta of 1.01. ONEOK, Inc. has a one year low of $70.63 and a one year high of $118.07. The company has a fifty day moving average price of $74.69 and a 200 day moving average price of $81.10. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.59 and a quick ratio of 0.46.

ONEOK (NYSE:OKE) last released its earnings results on Monday, August 4th. The utilities provider reported $1.34 EPS for the quarter, beating the consensus estimate of $1.33 by $0.01. The firm had revenue of $8.21 billion during the quarter, compared to analysts’ expectations of $7.20 billion. ONEOK had a net margin of 11.06% and a return on equity of 14.90%. During the same period in the prior year, the company earned $1.33 EPS. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. Analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Friday, August 1st were paid a $1.03 dividend. The ex-dividend date was Friday, August 1st. This represents a $4.12 dividend on an annualized basis and a dividend yield of 5.7%. ONEOK’s dividend payout ratio is currently 80.31%.

ONEOK Company Profile

ONEOK, Inc engages in gathering, processing, fractionation, storage, transportation, and marketing of natural gas and natural gas liquids (NGL) in the United States. It operates through four segments: Natural Gas Gathering and Processing, Natural Gas Liquids, Natural Gas Pipelines, and Refined Products and Crude.