Ritholtz Wealth Management Reduces Position in ONEOK, Inc. $OKE

Ritholtz Wealth Management trimmed its holdings in ONEOK, Inc. (NYSE:OKE) by 24.7% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,672 shares of the utilities provider’s stock after selling 877 shares during the period. Ritholtz Wealth Management’s holdings in ONEOK were worth $218,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Vanguard Group Inc. raised its position in shares of ONEOK by 7.2% in the first quarter. Vanguard Group Inc. now owns 75,196,969 shares of the utilities provider’s stock valued at $7,461,043,000 after buying an additional 5,076,705 shares during the last quarter. 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. Invesco Ltd. raised its position in shares of ONEOK by 25.1% in the first quarter. Invesco Ltd. now owns 8,339,939 shares of the utilities provider’s stock valued at $827,489,000 after buying an additional 1,674,706 shares during the last quarter. Tortoise Capital Advisors L.L.C. raised its position in shares of ONEOK by 17.1% in the first quarter. Tortoise Capital Advisors L.L.C. now owns 7,171,795 shares of the utilities provider’s stock valued at $711,586,000 after buying an additional 1,047,810 shares during the last quarter. Finally, Northern Trust Corp raised its position in shares of ONEOK by 5.3% in the first quarter. Northern Trust Corp now owns 6,879,863 shares of the utilities provider’s stock valued at $682,620,000 after buying an additional 344,002 shares during the last quarter. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on OKE shares. Barclays reduced their target price on shares of ONEOK from $83.00 to $78.00 and set an “equal weight” rating for the company in a research report on Thursday, October 9th. Royal Bank Of Canada dropped 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. Raymond James Financial reissued an “outperform” rating on shares of ONEOK in a report on Friday, August 1st. Weiss Ratings reissued a “hold (c+)” rating on shares of ONEOK in a report on Wednesday, October 8th. Finally, The Goldman Sachs Group started coverage on shares of ONEOK in a report on Tuesday, September 30th. They issued a “neutral” rating and a $75.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $98.27.

ONEOK Price Performance

ONEOK stock opened at $68.93 on Wednesday. The company’s 50 day simple moving average is $72.72 and its 200-day simple moving average is $78.63. The company has a market capitalization of $43.41 billion, a price-to-earnings ratio of 13.44, a price-to-earnings-growth ratio of 1.68 and a beta of 1.01. ONEOK, Inc. has a 1 year low of $66.56 and a 1 year 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 results on Monday, August 4th. The utilities provider reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.33 by $0.01. The business had revenue of $8.21 billion for the quarter, compared to the consensus estimate 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 previous year, the firm earned $1.33 EPS. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. As a group, equities research analysts expect 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 will be paid on Friday, November 14th. Stockholders of record on Monday, November 3rd will be given a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 6.0%. The ex-dividend date of this dividend is Monday, November 3rd. 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.