Burling Wealth Partners LLC Cuts Position in ONEOK, Inc. $OKE

Burling Wealth Partners LLC lowered its stake in shares of ONEOK, Inc. (NYSE:OKE) by 14.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 25,744 shares of the utilities provider’s stock after selling 4,210 shares during the period. Burling Wealth Partners LLC’s holdings in ONEOK were worth $2,101,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in OKE. Vanguard Group Inc. boosted its stake in shares of ONEOK by 7.2% during the 1st quarter. Vanguard Group Inc. now owns 75,196,969 shares of the utilities provider’s stock worth $7,461,043,000 after acquiring an additional 5,076,705 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in ONEOK by 13.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 20,957,230 shares of the utilities provider’s stock worth $2,079,376,000 after purchasing an additional 2,542,449 shares during the last quarter. Geode Capital Management LLC boosted its position in ONEOK by 2.3% during the second quarter. Geode Capital Management LLC now owns 15,800,797 shares of the utilities provider’s stock worth $1,284,303,000 after purchasing an additional 355,751 shares in the last quarter. Invesco Ltd. grew its holdings in ONEOK by 25.1% in the first quarter. Invesco Ltd. now owns 8,339,939 shares of the utilities provider’s stock valued at $827,489,000 after purchasing an additional 1,674,706 shares during the last quarter. Finally, Tortoise Capital Advisors L.L.C. grew its holdings in ONEOK by 17.1% in the first quarter. Tortoise Capital Advisors L.L.C. now owns 7,171,795 shares of the utilities provider’s stock valued at $711,586,000 after purchasing an additional 1,047,810 shares during the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

ONEOK Stock Performance

Shares of NYSE OKE opened at $69.38 on Friday. The company has a 50-day simple moving average of $70.44 and a 200-day simple moving average of $76.79. The company has a debt-to-equity ratio of 1.44, a current ratio of 0.90 and a quick ratio of 0.46. The company has a market cap of $43.66 billion, a PE ratio of 12.75, a price-to-earnings-growth ratio of 2.62 and a beta of 1.05. ONEOK, Inc. has a 12 month low of $64.02 and a 12 month high of $118.07.

ONEOK (NYSE:OKE) last announced its earnings results on Tuesday, October 28th. The utilities provider reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.48 by $0.01. The firm had revenue of $8.63 billion for the quarter, compared to analyst estimates 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 business earned $1.18 earnings per share. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. On average, equities analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Monday, November 3rd will be issued a dividend of $1.03 per share. The ex-dividend date is Monday, November 3rd. This represents a $4.12 annualized dividend and a dividend yield of 5.9%. ONEOK’s dividend payout ratio (DPR) is 75.74%.

Insider Activity at ONEOK

In other ONEOK news, Director Brian L. Derksen bought 2,500 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The stock was purchased at an average cost of $66.00 per share, for a total transaction of $165,000.00. Following the completion of the purchase, the director owned 21,200 shares of the company’s stock, valued at $1,399,200. This trade represents a 13.37% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.21% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Raymond James Financial reaffirmed an “outperform” rating and set a $82.00 price target (down previously from $100.00) on shares of ONEOK in a research note on Friday, October 24th. 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 report on Friday, August 29th. Citigroup reduced their price target on shares of ONEOK from $102.00 to $95.00 and set a “buy” rating on the stock in a report on Friday, October 31st. The Goldman Sachs Group reissued a “neutral” rating and set a $72.00 price objective on shares of ONEOK in a research note on Monday, November 3rd. Finally, Barclays cut their price objective on ONEOK from $83.00 to $78.00 and set an “equal weight” rating for the company in a research report on Thursday, October 9th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $91.94.

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.