Trust Investment Advisors Decreases Stake in ONEOK, Inc. $OKE

Trust Investment Advisors reduced its stake in shares of ONEOK, Inc. (NYSE:OKE) by 4.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,634 shares of the utilities provider’s stock after selling 965 shares during the period. ONEOK makes up approximately 1.0% of Trust Investment Advisors’ investment portfolio, making the stock its 28th biggest holding. Trust Investment Advisors’ holdings in ONEOK were worth $1,684,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Bogart Wealth LLC raised its stake in ONEOK by 3.1% in the 2nd quarter. Bogart Wealth LLC now owns 4,031 shares of the utilities provider’s stock worth $329,000 after acquiring an additional 122 shares during the last quarter. Presima Securities ULC increased its holdings in shares of ONEOK by 1.4% in the first quarter. Presima Securities ULC now owns 9,477 shares of the utilities provider’s stock valued at $940,000 after purchasing an additional 127 shares during the period. Clearstead Trust LLC raised its stake in shares of ONEOK by 5.0% in the first quarter. Clearstead Trust LLC now owns 2,792 shares of the utilities provider’s stock worth $277,000 after purchasing an additional 133 shares during the last quarter. Capital Investment Advisory Services LLC lifted its holdings in shares of ONEOK by 4.5% during the first quarter. Capital Investment Advisory Services LLC now owns 3,132 shares of the utilities provider’s stock worth $311,000 after purchasing an additional 134 shares during the period. Finally, Empowered Funds LLC boosted its position in ONEOK by 0.8% in the first quarter. Empowered Funds LLC now owns 17,957 shares of the utilities provider’s stock valued at $1,782,000 after buying an additional 137 shares during the last quarter. 69.13% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

OKE has been the subject of a number of recent research reports. Royal Bank Of Canada reduced their price target on shares of ONEOK from $94.00 to $88.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 13th. The Goldman Sachs Group assumed coverage on shares of ONEOK in a report on Tuesday, September 30th. They set a “neutral” rating and a $75.00 target price for the company. Mizuho lowered their price target on shares of ONEOK from $87.00 to $82.00 and set a “neutral” rating on the stock in a report on Friday, August 29th. Raymond James Financial reiterated an “outperform” rating and set a $82.00 price objective (down previously from $100.00) on shares of ONEOK in a research note on Friday. Finally, Barclays decreased their price objective on ONEOK from $83.00 to $78.00 and set an “equal weight” rating for the company in a report on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, ONEOK has a consensus rating of “Moderate Buy” and an average price target of $96.40.

ONEOK Trading Up 0.9%

OKE stock opened at $69.23 on Tuesday. ONEOK, Inc. has a 52-week low of $66.56 and a 52-week high of $118.07. The company has a quick ratio of 0.46, a current ratio of 0.59 and a debt-to-equity ratio of 1.35. The firm has a market cap of $43.60 billion, a P/E ratio of 13.50, a PEG ratio of 2.68 and a beta of 1.01. The company’s 50-day simple moving average is $72.32 and its 200-day simple moving average is $78.27.

ONEOK (NYSE:OKE) last announced its quarterly earnings results 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 during the quarter, compared to analyst estimates of $7.20 billion. ONEOK had a return on equity of 14.90% and a net margin of 11.06%.During the same quarter in the previous year, the business earned $1.33 EPS. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. As a group, equities analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Announces Dividend

The firm also recently announced 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. The ex-dividend date is Monday, November 3rd. This represents a $4.12 dividend on an annualized basis and a dividend yield of 6.0%. ONEOK’s dividend payout ratio (DPR) is 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.