Hobbs Group Advisors LLC Sells 1,047 Shares of ONEOK, Inc. $OKE

Hobbs Group Advisors LLC reduced its stake in ONEOK, Inc. (NYSE:OKE) by 27.5% during the 2nd quarter, Holdings Channel reports. The firm owned 2,755 shares of the utilities provider’s stock after selling 1,047 shares during the period. Hobbs Group Advisors LLC’s holdings in ONEOK were worth $225,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in OKE. Brighton Jones LLC boosted its position in shares of ONEOK by 137.1% in the 4th quarter. Brighton Jones LLC now owns 15,278 shares of the utilities provider’s stock worth $1,534,000 after purchasing an additional 8,834 shares during the last quarter. Park Avenue Securities LLC boosted its position in shares of ONEOK by 2.8% in the 1st quarter. Park Avenue Securities LLC now owns 7,816 shares of the utilities provider’s stock worth $776,000 after purchasing an additional 214 shares during the last quarter. Simon Quick Advisors LLC boosted its position in shares of ONEOK by 11.6% in the 1st quarter. Simon Quick Advisors LLC now owns 2,793 shares of the utilities provider’s stock worth $277,000 after purchasing an additional 291 shares during the last quarter. Fifth Third Bancorp boosted its position in shares of ONEOK by 8.6% in the 1st quarter. Fifth Third Bancorp now owns 29,252 shares of the utilities provider’s stock worth $2,902,000 after purchasing an additional 2,312 shares during the last quarter. Finally, Fort Washington Investment Advisors Inc. OH boosted its position in shares of ONEOK by 60.8% in the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 58,053 shares of the utilities provider’s stock worth $5,760,000 after purchasing an additional 21,943 shares during the last quarter. 69.13% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Weiss Ratings restated a “hold (c+)” rating on shares of ONEOK in a research report on Wednesday. Scotiabank set a $92.00 target price on ONEOK and gave the stock a “sector outperform” rating in a report on Tuesday, July 15th. Raymond James Financial reiterated an “outperform” rating on shares of ONEOK in a report on Friday, August 1st. Morgan Stanley reduced their target price on ONEOK from $122.00 to $110.00 and set an “overweight” rating on the stock in a report on Tuesday, August 26th. Finally, Royal Bank Of Canada reduced their target price on ONEOK from $94.00 to $88.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 13th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, ONEOK currently has an average rating of “Moderate Buy” and an average target price of $98.69.

ONEOK Stock Performance

Shares of ONEOK stock opened at $69.22 on Friday. The firm has a market cap of $43.59 billion, a price-to-earnings ratio of 13.49, a price-to-earnings-growth ratio of 1.70 and a beta of 1.01. The stock’s 50-day moving average is $73.67 and its 200-day moving average is $79.94. ONEOK, Inc. has a one year low of $69.08 and a one year high of $118.07. 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 issued its quarterly earnings results on Monday, August 4th. The utilities provider reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.01. The company had revenue of $8.21 billion for 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 period in the previous year, the company posted $1.33 earnings per share. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. Equities analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

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

About ONEOK

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.