Safe Harbor Fiduciary LLC Sells 3,518 Shares of ONEOK, Inc. $OKE

Safe Harbor Fiduciary LLC trimmed its stake in ONEOK, Inc. (NYSE:OKE) by 9.6% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 33,172 shares of the utilities provider’s stock after selling 3,518 shares during the quarter. ONEOK makes up 2.5% of Safe Harbor Fiduciary LLC’s portfolio, making the stock its 8th biggest holding. Safe Harbor Fiduciary LLC’s holdings in ONEOK were worth $2,708,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Choreo LLC increased its position in ONEOK by 2.3% during the 2nd quarter. Choreo LLC now owns 14,070 shares of the utilities provider’s stock worth $1,149,000 after purchasing an additional 321 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in ONEOK by 10.4% in the 2nd quarter. Russell Investments Group Ltd. now owns 1,215,140 shares of the utilities provider’s stock worth $99,163,000 after buying an additional 114,893 shares during the last quarter. Boston Partners boosted its position in shares of ONEOK by 53.7% in the second quarter. Boston Partners now owns 5,509,100 shares of the utilities provider’s stock worth $448,476,000 after acquiring an additional 1,924,864 shares during the last quarter. J.W. Cole Advisors Inc. boosted its holdings in ONEOK by 20.6% in the second quarter. J.W. Cole Advisors Inc. now owns 24,194 shares of the utilities provider’s stock valued at $1,975,000 after acquiring an additional 4,132 shares during the last quarter. Finally, Advisors Asset Management Inc. grew its holdings in shares of ONEOK by 10.1% during the 2nd quarter. Advisors Asset Management Inc. now owns 108,945 shares of the utilities provider’s stock worth $8,893,000 after purchasing an additional 10,014 shares during the period. Institutional investors and hedge funds own 69.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on OKE. Weiss Ratings reiterated a “hold (c)” rating on shares of ONEOK in a report on Tuesday. Royal Bank Of Canada cut their price target on shares of ONEOK from $94.00 to $88.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 13th. Barclays reduced their target price on ONEOK from $83.00 to $78.00 and set an “equal weight” rating on the stock in a report on Thursday, October 9th. Scotiabank reduced their price target 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. Finally, Citigroup dropped their price objective on shares of ONEOK from $102.00 to $95.00 and set a “buy” rating on the stock in a research note on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.27.

Insiders Place Their Bets

In other ONEOK news, Director Brian L. Derksen purchased 2,500 shares of ONEOK stock in a transaction on Monday, November 3rd. The stock was bought at an average price of $66.00 per share, for a total transaction of $165,000.00. Following the transaction, the director owned 21,200 shares of the company’s stock, valued at $1,399,200. The trade was a 13.37% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.21% of the stock is owned by insiders.

ONEOK Stock Performance

Shares of OKE opened at $71.56 on Thursday. The firm has a fifty day moving average of $69.99 and a 200-day moving average of $75.97. The company has a market cap of $45.03 billion, a price-to-earnings ratio of 13.15, a price-to-earnings-growth ratio of 2.62 and a beta of 1.05. 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 $114.27.

ONEOK (NYSE:OKE) last released its quarterly earnings data on Tuesday, October 28th. The utilities provider reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.48 by $0.01. The business had revenue of $8.63 billion for the quarter, compared to analysts’ expectations of $8.23 billion. ONEOK had a net margin of 10.58% and a return on equity of 15.12%. During the same quarter last year, the company earned $1.18 EPS. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. As a group, equities analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Monday, November 3rd were given a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 5.8%. The ex-dividend date was Monday, November 3rd. ONEOK’s dividend payout ratio (DPR) is currently 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.