ONEOK, Inc. $OKE Shares Sold by RFG Advisory LLC

RFG Advisory LLC lessened its stake in ONEOK, Inc. (NYSE:OKE) by 19.3% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 27,798 shares of the utilities provider’s stock after selling 6,652 shares during the quarter. RFG Advisory LLC’s holdings in ONEOK were worth $2,417,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in OKE. Brighton Jones LLC increased its stake in shares of ONEOK by 137.1% during the fourth quarter. Brighton Jones LLC now owns 15,278 shares of the utilities provider’s stock worth $1,534,000 after purchasing an additional 8,834 shares in the last quarter. Empowered Funds LLC boosted its holdings 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 buying an additional 137 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in ONEOK in the 1st quarter worth about $216,000. Federated Hermes Inc. increased its stake in ONEOK by 14.0% during the 2nd quarter. Federated Hermes Inc. now owns 3,120 shares of the utilities provider’s stock worth $255,000 after buying an additional 383 shares in the last quarter. Finally, NewEdge Advisors LLC increased its stake in ONEOK by 3.9% during the 2nd quarter. NewEdge Advisors LLC now owns 130,347 shares of the utilities provider’s stock worth $10,640,000 after buying an additional 4,902 shares in the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on OKE. Barclays decreased their target price on ONEOK from $90.00 to $88.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 8th. Freedom Capital raised ONEOK from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 5th. Wall Street Zen upgraded ONEOK from a “sell” rating to a “hold” rating in a report on Sunday, August 9th. Truist Financial lifted their target price on shares of ONEOK from $93.00 to $104.00 and gave the stock a “hold” rating in a research note on Wednesday, September 2nd. Finally, Jefferies Financial Group upped their target price on shares of ONEOK from $95.00 to $105.00 and gave the stock a “hold” rating in a report on Wednesday, September 2nd. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $96.62.

ONEOK Trading Down 0.1%

Shares of OKE stock opened at $95.74 on Friday. The company’s 50-day moving average price is $92.38 and its 200-day moving average price is $89.40. The company has a current ratio of 0.74, a quick ratio of 0.59 and a debt-to-equity ratio of 1.34. The stock has a market cap of $60.35 billion, a price-to-earnings ratio of 16.51, a PEG ratio of 2.72 and a beta of 0.74. ONEOK, Inc. has a twelve month low of $64.02 and a twelve month high of $99.85.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Monday, August 3rd. The utilities provider reported $1.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.07. ONEOK had a net margin of 9.29% and a return on equity of 16.41%. The firm had revenue of $12.05 billion during the quarter, compared to analyst estimates of $8.95 billion. During the same quarter in the prior year, the firm posted $1.34 earnings per share. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. As a group, equities analysts predict that ONEOK, Inc. will post 5.74 earnings per share for the current year.

ONEOK Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Monday, August 3rd were paid a $1.07 dividend. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $4.28 annualized dividend and a dividend yield of 4.5%. ONEOK’s dividend payout ratio is 73.79%.

About ONEOK

ONEOK, Inc (NYSE: OKE) is an energy infrastructure company that gathers, processes, stores and transports natural gas and natural gas liquids (NGLs). Its operations connect production areas with domestic and international markets through pipelines, processing facilities, fractionation plants, storage assets and export infrastructure.

The company’s services include natural gas gathering and processing, interstate and intrastate natural gas transportation and storage, and the gathering, fractionation, storage and transportation of NGLs such as ethane, propane, normal butane, isobutane and natural gasoline.