ONEOK, Inc. $OKE Shares Sold by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC cut its holdings in ONEOK, Inc. (NYSE:OKE) by 37.4% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,473 shares of the utilities provider’s stock after selling 5,662 shares during the period. Frank Rimerman Advisors LLC’s holdings in ONEOK were worth $773,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Brighton Jones LLC grew its position in shares of ONEOK by 137.1% in the fourth quarter. Brighton Jones LLC now owns 15,278 shares of the utilities provider’s stock valued at $1,534,000 after purchasing an additional 8,834 shares during the last quarter. Mutual of America Capital Management LLC grew its holdings in ONEOK by 3.1% during the 1st quarter. Mutual of America Capital Management LLC now owns 72,140 shares of the utilities provider’s stock valued at $7,158,000 after buying an additional 2,166 shares during the last quarter. IFP Advisors Inc increased its position in ONEOK by 4.1% during the first quarter. IFP Advisors Inc now owns 12,457 shares of the utilities provider’s stock worth $1,244,000 after buying an additional 486 shares in the last quarter. J.W. Cole Advisors Inc. raised its holdings in shares of ONEOK by 65.9% in the first quarter. J.W. Cole Advisors Inc. now owns 20,062 shares of the utilities provider’s stock worth $1,991,000 after acquiring an additional 7,969 shares during the last quarter. Finally, Wealth Alliance LLC lifted its position in shares of ONEOK by 7.5% in the first quarter. Wealth Alliance LLC now owns 3,530 shares of the utilities provider’s stock valued at $350,000 after acquiring an additional 246 shares in the last quarter. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. TD Cowen dropped their price objective on ONEOK from $78.00 to $76.00 and set a “hold” rating for the company in a research report on Thursday, October 30th. Barclays lowered their price target on shares of ONEOK from $83.00 to $78.00 and set an “equal weight” rating for the company in a report on Thursday, October 9th. Weiss Ratings reissued a “hold (c)” rating on shares of ONEOK in a research note on Thursday, November 13th. Argus upgraded shares of ONEOK from a “hold” rating to a “buy” rating and set a $79.00 target price on the stock in a research report on Thursday, November 6th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $72.00 price target on shares of ONEOK in a report on Monday, November 3rd. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $89.27.

Insiders Place Their Bets

In other news, Director Brian L. Derksen purchased 2,500 shares of the stock in a transaction on Monday, November 3rd. The stock was purchased at an average price 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. The trade was a 13.37% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.20% of the company’s stock.

ONEOK Price Performance

OKE opened at $69.47 on Wednesday. The company’s 50 day simple moving average is $70.30 and its 200 day simple moving average is $76.38. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.46 and a current ratio of 0.90. ONEOK, Inc. has a 1 year low of $64.02 and a 1 year high of $118.07. The stock has a market capitalization of $43.72 billion, a PE ratio of 12.77, a P/E/G ratio of 2.62 and a beta of 1.06.

ONEOK (NYSE:OKE) last issued its quarterly earnings results on Tuesday, October 28th. The utilities provider reported $1.49 EPS for the quarter, topping the consensus estimate of $1.48 by $0.01. The firm had revenue of $8.63 billion during the quarter, compared to analyst estimates of $8.23 billion. ONEOK had a net margin of 10.58% and a return on equity of 15.12%. During the same quarter in the prior year, the business posted $1.18 earnings per share. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. As a group, sell-side analysts expect that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Monday, November 3rd were issued a $1.03 dividend. The ex-dividend date was Monday, November 3rd. This represents a $4.12 dividend on an annualized basis and a yield of 5.9%. ONEOK’s dividend payout ratio (DPR) is presently 75.74%.

ONEOK 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.