Blankinship & Foster LLC Lowers Stock Holdings in ONEOK, Inc. $OKE

Blankinship & Foster LLC reduced its position in ONEOK, Inc. (NYSE:OKE) by 40.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,664 shares of the utilities provider’s stock after selling 4,611 shares during the quarter. Blankinship & Foster LLC’s holdings in ONEOK were worth $544,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of OKE. Financial Network Wealth Advisors LLC lifted its stake 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 in the last quarter. Access Investment Management LLC purchased a new stake in shares of ONEOK in the second quarter worth $33,000. Cheviot Value Management LLC bought a new stake in ONEOK during the first quarter valued at $46,000. Trust Co. of Toledo NA OH bought a new stake in ONEOK during the second quarter valued at $42,000. Finally, MTM Investment Management LLC bought a new position in ONEOK in the 2nd quarter worth about $44,000. Institutional investors own 69.13% of the company’s stock.

ONEOK Trading Up 1.6%

Shares of OKE stock opened at $70.55 on Friday. The business has a 50-day moving average of $70.39 and a 200 day moving average of $76.60. The company has a debt-to-equity ratio of 1.44, a current ratio of 0.90 and a quick ratio of 0.46. ONEOK, Inc. has a 1-year low of $64.02 and a 1-year high of $118.07. The stock has a market capitalization of $44.39 billion, a PE ratio of 12.97, a P/E/G ratio of 2.62 and a beta of 1.05.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Tuesday, October 28th. The utilities provider reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.48 by $0.01. The firm had revenue of $8.63 billion during the quarter, compared to the consensus estimate of $8.23 billion. ONEOK had a return on equity of 15.12% and a net margin of 10.58%.During the same quarter in the previous year, the company posted $1.18 earnings per share. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. As a group, sell-side analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Monday, November 3rd were given a dividend of $1.03 per share. The ex-dividend date of this dividend was Monday, November 3rd. This represents a $4.12 annualized dividend and a yield of 5.8%. ONEOK’s dividend payout ratio is presently 75.74%.

Analyst Ratings Changes

A number of brokerages recently weighed in on OKE. Morgan Stanley lowered their target price on shares of ONEOK from $122.00 to $110.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 26th. Weiss Ratings restated a “hold (c)” rating on shares of ONEOK in a research report on Thursday. 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 report on Wednesday, August 13th. Mizuho reduced their target price on ONEOK from $87.00 to $82.00 and set a “neutral” rating on the stock in a research note on Friday, August 29th. Finally, Stifel Nicolaus set a $94.00 price target on ONEOK in a research note on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $89.27.

Insider Transactions at ONEOK

In other news, Director Brian L. Derksen acquired 2,500 shares of the firm’s stock in a transaction on Monday, November 3rd. The shares were purchased at an average price of $66.00 per share, for a total transaction of $165,000.00. Following the completion of the transaction, the director owned 21,200 shares of the company’s stock, valued at $1,399,200. The trade was a 13.37% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.21% of the stock is currently owned by company insiders.

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.