Wedmont Private Capital Sells 403 Shares of ONEOK, Inc. $OKE

Wedmont Private Capital cut its stake in ONEOK, Inc. (NYSE:OKE) by 2.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,142 shares of the utilities provider’s stock after selling 403 shares during the quarter. Wedmont Private Capital’s holdings in ONEOK were worth $1,148,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of ONEOK by 5.8% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 89,956 shares of the utilities provider’s stock worth $7,343,000 after acquiring an additional 4,942 shares during the period. Focus Financial Network Inc. grew its stake in shares of ONEOK by 4.5% in the second quarter. Focus Financial Network Inc. now owns 13,671 shares of the utilities provider’s stock worth $1,116,000 after acquiring an additional 583 shares during the period. Chickasaw Capital Management LLC grew its stake in shares of ONEOK by 2.7% in the second quarter. Chickasaw Capital Management LLC now owns 2,130,173 shares of the utilities provider’s stock worth $173,886,000 after acquiring an additional 55,379 shares during the period. Chesley Taft & Associates LLC grew its stake in shares of ONEOK by 0.5% in the second quarter. Chesley Taft & Associates LLC now owns 56,795 shares of the utilities provider’s stock worth $4,636,000 after acquiring an additional 255 shares during the period. Finally, Seneca House Advisors grew its stake in shares of ONEOK by 22.1% in the second quarter. Seneca House Advisors now owns 86,226 shares of the utilities provider’s stock worth $7,039,000 after acquiring an additional 15,626 shares during the period. 69.13% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

OKE has been the subject of a number of research analyst reports. Mizuho reduced their price target on shares of ONEOK from $87.00 to $82.00 and set a “neutral” rating for the company in a research note on Friday, August 29th. Scotiabank set a $92.00 price objective on shares of ONEOK and gave the stock a “sector outperform” rating in a report on Tuesday, July 15th. JPMorgan Chase & Co. raised their price objective on shares of ONEOK from $94.00 to $97.00 and gave the stock an “overweight” rating in a report on Thursday, July 3rd. Morgan Stanley dropped their price objective on shares of ONEOK from $122.00 to $110.00 and set an “overweight” rating on the stock in a report on Tuesday, August 26th. Finally, TD Cowen began coverage on shares of ONEOK in a report on Monday, July 7th. They issued a “hold” rating and a $91.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $100.60.

ONEOK Price Performance

NYSE OKE opened at $73.61 on Friday. ONEOK, Inc. has a 12 month low of $70.63 and a 12 month high of $118.07. The stock has a market cap of $46.36 billion, a price-to-earnings ratio of 14.35, a PEG ratio of 1.74 and a beta of 1.04. The company’s 50 day moving average is $76.53 and its two-hundred day moving average is $82.67. The company has a current ratio of 0.59, a quick ratio of 0.46 and a debt-to-equity ratio of 1.35.

ONEOK (NYSE:OKE) last released its earnings results on Monday, August 4th. The utilities provider reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.01. ONEOK had a net margin of 11.06% and a return on equity of 14.90%. The company had revenue of $8.21 billion for the quarter, compared to analysts’ expectations of $7.20 billion. During the same quarter last year, the business earned $1.33 EPS. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. As a group, research analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Friday, August 1st were given a dividend of $1.03 per share. The ex-dividend date was Friday, August 1st. This represents a $4.12 annualized dividend and a dividend yield of 5.6%. ONEOK’s dividend payout ratio (DPR) is presently 80.31%.

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.