SPC Financial Inc. Sells 1,104 Shares of ONEOK, Inc. $OKE

SPC Financial Inc. lessened its stake in shares of ONEOK, Inc. (NYSE:OKE) by 3.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 32,435 shares of the utilities provider’s stock after selling 1,104 shares during the quarter. SPC Financial Inc.’s holdings in ONEOK were worth $2,648,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Presima Securities ULC boosted its position in ONEOK by 1.4% during the 1st quarter. Presima Securities ULC now owns 9,477 shares of the utilities provider’s stock valued at $940,000 after acquiring an additional 127 shares in the last quarter. Morey & Quinn Wealth Partners LLC boosted its position in ONEOK by 0.8% during the 1st quarter. Morey & Quinn Wealth Partners LLC now owns 15,722 shares of the utilities provider’s stock valued at $1,560,000 after acquiring an additional 130 shares in the last quarter. Clearstead Trust LLC boosted its position in ONEOK by 5.0% during the 1st quarter. Clearstead Trust LLC now owns 2,792 shares of the utilities provider’s stock valued at $277,000 after acquiring an additional 133 shares in the last quarter. BankPlus Wealth Management LLC boosted its position in ONEOK by 2.8% during the 1st quarter. BankPlus Wealth Management LLC now owns 4,884 shares of the utilities provider’s stock valued at $485,000 after acquiring an additional 134 shares in the last quarter. Finally, Capital Investment Advisory Services LLC boosted its position in ONEOK by 4.5% during the 1st quarter. Capital Investment Advisory Services LLC now owns 3,132 shares of the utilities provider’s stock valued at $311,000 after acquiring an additional 134 shares in the last quarter. Institutional investors own 69.13% of the company’s stock.

ONEOK Stock Performance

NYSE OKE opened at $69.22 on Friday. The stock has a 50-day simple moving average of $73.67 and a two-hundred day simple moving average of $79.94. The firm has a market capitalization of $43.59 billion, a P/E ratio of 13.49, a PEG ratio of 1.70 and a beta of 1.01. ONEOK, Inc. has a fifty-two week low of $69.08 and a fifty-two week high of $118.07. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.46 and a current ratio of 0.59.

ONEOK (NYSE:OKE) last released its quarterly earnings data on Monday, August 4th. The utilities provider reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.33 by $0.01. The business had revenue of $8.21 billion during the quarter, compared to analyst estimates of $7.20 billion. ONEOK had a return on equity of 14.90% and a net margin of 11.06%.During the same quarter last year, the business posted $1.33 EPS. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. On average, equities analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Friday, August 1st were paid a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 6.0%. The ex-dividend date was Friday, August 1st. ONEOK’s payout ratio is currently 80.31%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on OKE shares. Morgan Stanley lowered their price objective on ONEOK from $122.00 to $110.00 and set an “overweight” rating for the company in a research report on Tuesday, August 26th. Raymond James Financial reissued an “outperform” rating on shares of ONEOK in a research report on Friday, August 1st. Scotiabank set a $92.00 price objective on ONEOK and gave the stock a “sector outperform” rating in a research report on Tuesday, July 15th. Weiss Ratings reissued a “hold (c+)” rating on shares of ONEOK in a research report on Wednesday. Finally, Royal Bank Of Canada lowered their price objective on ONEOK from $94.00 to $88.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 13th. One investment 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’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $98.69.

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.