Rockefeller Capital Management L.P. Trims Stock Position in ONEOK, Inc. $OKE

Rockefeller Capital Management L.P. trimmed its holdings in ONEOK, Inc. (NYSE:OKE) by 6.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 315,329 shares of the utilities provider’s stock after selling 21,084 shares during the quarter. Rockefeller Capital Management L.P. owned 0.05% of ONEOK worth $27,278,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in OKE. Bogart Wealth LLC boosted its stake in shares of ONEOK by 3.1% in the second quarter. Bogart Wealth LLC now owns 4,031 shares of the utilities provider’s stock worth $329,000 after buying an additional 122 shares during the last quarter. Presima Securities ULC lifted its holdings in 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 acquiring an additional 127 shares during the period. Clearstead Trust LLC lifted its holdings in ONEOK by 5.0% in the first quarter. Clearstead Trust LLC now owns 2,792 shares of the utilities provider’s stock valued at $277,000 after acquiring an additional 133 shares during the period. Empowered Funds LLC boosted its position in ONEOK by 0.8% in the 1st quarter. Empowered Funds LLC now owns 17,957 shares of the utilities provider’s stock worth $1,782,000 after purchasing an additional 137 shares in the last quarter. Finally, MJT & Associates Financial Advisory Group Inc. grew its stake in shares of ONEOK by 5.8% during the 2nd quarter. MJT & Associates Financial Advisory Group Inc. now owns 2,540 shares of the utilities provider’s stock worth $207,000 after purchasing an additional 140 shares during the period. 69.13% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on OKE. Stifel Nicolaus set a $94.00 target price on shares of ONEOK in a research note on Thursday, October 30th. Royal Bank Of Canada decreased their price objective 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. TD Cowen lowered their target price on shares of ONEOK from $78.00 to $76.00 and set a “hold” rating on the stock in a research note on Thursday, October 30th. The Goldman Sachs Group restated a “neutral” rating and issued a $72.00 price target on shares of ONEOK in a research note on Monday, November 3rd. Finally, Scotiabank lowered their price target on ONEOK from $88.00 to $87.00 and set a “sector outperform” rating on the stock in a research report on Tuesday, November 4th. One 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 company’s stock. According to MarketBeat.com, ONEOK currently has a consensus rating of “Moderate Buy” and an average target price of $89.27.

ONEOK Stock Performance

NYSE OKE opened at $68.83 on Tuesday. The company has a market cap of $43.31 billion, a PE ratio of 12.65, a price-to-earnings-growth ratio of 2.62 and a beta of 1.05. The stock’s 50 day simple moving average is $70.34 and its 200-day simple moving average is $76.47. ONEOK, Inc. has a 1-year low of $64.02 and a 1-year high of $118.07. 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 (NYSE:OKE) last issued its quarterly earnings results on Tuesday, October 28th. The utilities provider reported $1.49 EPS for the quarter, topping the consensus estimate of $1.48 by $0.01. ONEOK had a return on equity of 15.12% and a net margin of 10.58%.The firm had revenue of $8.63 billion during the quarter, compared to analysts’ expectations of $8.23 billion. During the same period in the previous year, the business earned $1.18 earnings per share. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. As a group, equities research analysts anticipate 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 was paid on Friday, November 14th. Stockholders of record on Monday, November 3rd were given a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 6.0%. The ex-dividend date was Monday, November 3rd. ONEOK’s dividend payout ratio is 75.74%.

Insider Buying and Selling at ONEOK

In other ONEOK news, Director Brian L. Derksen purchased 2,500 shares of the stock in a transaction that occurred on Monday, November 3rd. The shares were purchased at an average cost 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 position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.21% of the company’s stock.

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.