ONEOK, Inc. $OKE Stock Position Raised by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC lifted its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 1.2% in the second quarter, Holdings Channel.com reports. The institutional investor owned 214,400 shares of the utilities provider’s stock after purchasing an additional 2,439 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in ONEOK were worth $17,501,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. First Pacific Financial bought a new stake in shares of ONEOK during the 1st quarter valued at about $34,000. Financial Network Wealth Advisors LLC grew its position in ONEOK by 2,466.7% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 385 shares of the utilities provider’s stock worth $38,000 after purchasing an additional 370 shares during the last quarter. MorganRosel Wealth Management LLC bought a new position in ONEOK in the 1st quarter worth about $39,000. Financial Gravity Asset Management Inc. bought a new position in ONEOK in the 1st quarter worth about $40,000. Finally, Rakuten Securities Inc. grew its position in ONEOK by 152.1% in the 1st quarter. Rakuten Securities Inc. now owns 421 shares of the utilities provider’s stock worth $42,000 after purchasing an additional 254 shares during the last quarter. Institutional investors own 69.13% of the company’s stock.

ONEOK Stock Down 2.9%

Shares of NYSE:OKE opened at $69.22 on Monday. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.46 and a current ratio of 0.59. The company has a market cap of $43.59 billion, a PE ratio of 13.49, a price-to-earnings-growth ratio of 1.69 and a beta of 1.01. ONEOK, Inc. has a 52 week low of $69.08 and a 52 week high of $118.07. The firm has a 50 day simple moving average of $73.67 and a 200 day simple moving average of $79.81.

ONEOK (NYSE:OKE) last released its quarterly earnings data on Monday, August 4th. The utilities provider reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.01. The firm had revenue of $8.21 billion for the quarter, compared to analyst estimates of $7.20 billion. ONEOK had a net margin of 11.06% and a return on equity of 14.90%. During the same quarter in the prior 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 expect that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Friday, August 1st were issued a $1.03 dividend. The ex-dividend date of this dividend was Friday, August 1st. This represents a $4.12 annualized dividend and a yield of 6.0%. ONEOK’s dividend payout ratio is 80.31%.

Analysts Set New Price Targets

Several research firms have commented on OKE. Morgan Stanley decreased their target price on shares of ONEOK from $122.00 to $110.00 and set an “overweight” rating for the company in a research report on Tuesday, August 26th. Raymond James Financial reiterated an “outperform” rating on shares of ONEOK in a research note on Friday, August 1st. Royal Bank Of Canada cut their target price on shares of ONEOK from $94.00 to $88.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 13th. Mizuho cut their target price 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. Finally, Scotiabank set a $92.00 target price on shares of ONEOK and gave the company a “sector outperform” rating in a research note on Tuesday, July 15th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, ONEOK currently has a consensus rating of “Moderate Buy” and a consensus price target of $98.69.

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.