ONEOK, Inc. $OKE Shares Sold by Prospera Financial Services Inc

Prospera Financial Services Inc decreased its stake in shares of ONEOK, Inc. (NYSE:OKE) by 39.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,556 shares of the utilities provider’s stock after selling 8,850 shares during the period. Prospera Financial Services Inc’s holdings in ONEOK were worth $1,107,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in OKE. Vanguard Group Inc. raised its stake in ONEOK by 7.2% in the 1st quarter. Vanguard Group Inc. now owns 75,196,969 shares of the utilities provider’s stock valued at $7,461,043,000 after purchasing an additional 5,076,705 shares during the last quarter. Nuveen LLC acquired a new stake in shares of ONEOK during the 1st quarter worth about $440,535,000. Boston Partners purchased a new stake in shares of ONEOK during the first quarter worth about $353,596,000. First Eagle Investment Management LLC raised its position in shares of ONEOK by 130.8% in the second quarter. First Eagle Investment Management LLC now owns 6,256,173 shares of the utilities provider’s stock valued at $510,691,000 after buying an additional 3,545,256 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of ONEOK by 13.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 20,957,230 shares of the utilities provider’s stock valued at $2,079,376,000 after buying an additional 2,542,449 shares during the last quarter. 69.13% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Brian L. Derksen bought 2,500 shares of ONEOK stock in a transaction dated Monday, November 3rd. The shares were acquired at an average cost of $66.00 per share, with a total value of $165,000.00. Following the completion of the transaction, the director owned 21,200 shares in the company, valued at approximately $1,399,200. This trade represents a 13.37% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.21% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on OKE. Scotiabank decreased their target price on shares of ONEOK from $88.00 to $87.00 and set a “sector outperform” rating on the stock in a research report on Tuesday, November 4th. Raymond James Financial reissued an “outperform” rating and set a $82.00 price target (down previously from $100.00) on shares of ONEOK in a research note on Friday, October 24th. Mizuho lowered their price objective on ONEOK from $87.00 to $82.00 and set a “neutral” rating for the company in a research report on Friday, August 29th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $72.00 target price on shares of ONEOK in a research note on Monday, November 3rd. Finally, Stifel Nicolaus set a $94.00 target price on ONEOK in a research report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $91.94.

ONEOK Stock Performance

NYSE OKE opened at $68.82 on Thursday. The company has a debt-to-equity ratio of 1.44, a current ratio of 0.90 and a quick ratio of 0.46. ONEOK, Inc. has a 1-year low of $64.02 and a 1-year high of $118.07. The firm has a market capitalization of $43.30 billion, a P/E ratio of 12.65, a P/E/G ratio of 2.62 and a beta of 1.05. The business’s 50-day simple moving average is $70.54 and its 200-day simple moving average is $76.85.

ONEOK (NYSE:OKE) last released its quarterly earnings data on Tuesday, October 28th. The utilities provider reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.48 by $0.01. ONEOK had a net margin of 10.58% and a return on equity of 15.12%. The company had revenue of $9.17 billion during the quarter, compared to the consensus estimate of $8.23 billion. During the same period in the previous year, the firm earned $1.18 earnings per share. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. Equities analysts predict that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Monday, November 3rd will be given a $1.03 dividend. The ex-dividend date of this dividend is Monday, November 3rd. This represents a $4.12 annualized dividend and a yield of 6.0%. ONEOK’s dividend payout ratio (DPR) is 75.74%.

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.