Segment Wealth Management LLC Has $2.10 Million Holdings in ONEOK, Inc. $OKE

Segment Wealth Management LLC cut its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 33.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,714 shares of the utilities provider’s stock after selling 14,656 shares during the period. Segment Wealth Management LLC’s holdings in ONEOK were worth $2,095,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in OKE. Vanguard Group Inc. lifted its holdings in shares of ONEOK by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 76,510,971 shares of the utilities provider’s stock valued at $6,245,591,000 after purchasing an additional 1,314,002 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in ONEOK by 2.9% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 21,570,904 shares of the utilities provider’s stock worth $1,760,833,000 after purchasing an additional 613,674 shares in the last quarter. Geode Capital Management LLC raised its holdings in ONEOK by 2.3% during the 2nd quarter. Geode Capital Management LLC now owns 15,800,797 shares of the utilities provider’s stock worth $1,284,303,000 after buying an additional 355,751 shares during the period. Invesco Ltd. lifted its stake in ONEOK by 0.6% in the second quarter. Invesco Ltd. now owns 8,386,831 shares of the utilities provider’s stock valued at $684,617,000 after buying an additional 46,892 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of ONEOK in the second quarter valued at approximately $562,832,000. 69.13% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at ONEOK

In other news, Director Brian L. Derksen bought 2,500 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The stock was acquired at an average cost of $66.00 per share, for a total transaction of $165,000.00. Following the purchase, the director owned 21,200 shares of the company’s stock, valued at approximately $1,399,200. This trade represents a 13.37% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on OKE shares. TD Cowen dropped their price objective on shares of ONEOK from $78.00 to $76.00 and set a “hold” rating on the stock in a report on Thursday, October 30th. Scotiabank cut their price target on ONEOK from $88.00 to $87.00 and set a “sector outperform” rating on the stock in a report on Tuesday, November 4th. Citigroup decreased their price objective on ONEOK from $102.00 to $95.00 and set a “buy” rating for the company in a report on Friday, October 31st. Stifel Nicolaus set a $94.00 price target on ONEOK in a research report on Thursday, October 30th. Finally, Wells Fargo & Company lowered their price objective on shares of ONEOK from $90.00 to $82.00 and set an “equal weight” rating on the stock in a report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $88.00.

ONEOK Trading Up 1.1%

NYSE OKE opened at $73.63 on Tuesday. The company has a market cap of $46.33 billion, a PE ratio of 13.53, a PEG ratio of 4.45 and a beta of 0.95. The company has a current ratio of 0.90, a quick ratio of 0.75 and a debt-to-equity ratio of 1.44. ONEOK, Inc. has a 12 month low of $64.02 and a 12 month high of $111.02. The stock has a 50 day moving average of $70.86 and a 200-day moving average of $74.42.

ONEOK (NYSE:OKE) last issued its earnings results 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. ONEOK had a net margin of 10.58% and a return on equity of 15.12%. The business had revenue of $8.63 billion for the quarter, compared to the consensus estimate of $8.23 billion. During the same period in the previous year, the company earned $1.18 earnings per share. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. On average, equities research analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Monday, November 3rd were issued a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date of this dividend was Monday, November 3rd. ONEOK’s dividend payout ratio is presently 75.74%.

ONEOK Company Profile

ONEOK, Inc (NYSE: OKE) is a publicly traded midstream energy company headquartered in Tulsa, Oklahoma. The company owns and operates a portfolio of natural gas and natural gas liquids (NGL) pipelines, processing facilities, fractionators and storage and terminal assets. Its operations are focused on gathering, processing, transporting, fractionating and marketing NGLs and interstate natural gas, providing critical infrastructure that connects hydrocarbon production to refineries, petrochemical plants and other end markets.

ONEOK’s asset base includes pipeline systems and processing plants that move and condition natural gas, along with infrastructure for the transportation, storage and fractionation of NGLs such as ethane, propane and butane.