Advisors Management Group Inc. ADV Reduces Stock Position in ONEOK, Inc. $OKE

Key Points

• Advisors Management Group reduced its ONEOK stake by 17.3% in the first quarter, selling 12,378 shares and leaving it with 59,347 shares worth about $5.36 million.
• Analyst sentiment is mixed: recent actions included upgrades from Weiss Ratings and Citigroup, but Scotiabank downgraded the stock. Overall, ONEOK carries an average Hold rating with a consensus target price of $91.75.
• ONEOK reported quarterly EPS of $1.23, below expectations, but revenue of $9.62 billion beat estimates; the company also paid a $1.07 quarterly dividend, implying an annualized yield of 4.8%.

Advisors Management Group Inc. ADV cut its position in ONEOK, Inc. (NYSE:OKE - Free Report) by 17.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 59,347 shares of the utilities provider's stock after selling 12,378 shares during the period. ONEOK makes up 1.0% of Advisors Management Group Inc. ADV's holdings, making the stock its 27th largest position. Advisors Management Group Inc. ADV's holdings in ONEOK were worth $5,364,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Zions Bancorporation National Association UT increased its holdings in ONEOK by 73.3% in the 4th quarter. Zions Bancorporation National Association UT now owns 338 shares of the utilities provider's stock worth $25,000 after buying an additional 143 shares during the period. Portus Wealth Advisors LLC acquired a new stake in ONEOK during the 1st quarter valued at approximately $33,000. Elyxium Wealth LLC acquired a new stake in ONEOK during the 4th quarter valued at approximately $29,000. Cornerstone Financial Management LLC purchased a new stake in shares of ONEOK in the 4th quarter valued at $29,000. Finally, SRH Advisors LLC boosted its holdings in shares of ONEOK by 122.3% in the 4th quarter. SRH Advisors LLC now owns 438 shares of the utilities provider's stock valued at $32,000 after acquiring an additional 241 shares during the last quarter. Institutional investors and hedge funds own 69.13% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on OKE. Weiss Ratings raised shares of ONEOK from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, May 18th. Truist Financial upped their price target on shares of ONEOK from $91.00 to $93.00 and gave the company a "hold" rating in a report on Monday, May 4th. Citigroup increased their price target on ONEOK from $95.00 to $97.00 and gave the stock a "buy" rating in a research report on Thursday, May 7th. Scotiabank downgraded ONEOK from a "sector outperform" rating to a "sector perform" rating and lowered their target price for the stock from $92.00 to $89.00 in a research note on Thursday, April 30th. Finally, Morgan Stanley raised their target price on ONEOK from $104.00 to $113.00 and gave the stock an "overweight" rating in a report on Tuesday, April 7th. Eight investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $91.75.

ONEOK Stock Performance

Shares of NYSE OKE opened at $89.90 on Friday. The company's fifty day moving average price is $88.73 and its 200 day moving average price is $84.63. ONEOK, Inc. has a 1 year low of $64.02 and a 1 year high of $96.07. The company has a market capitalization of $56.65 billion, a PE ratio of 16.03, a price-to-earnings-growth ratio of 6.69 and a beta of 0.73. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.56 and a current ratio of 0.71.

ONEOK (NYSE:OKE - Get Free Report) last released its quarterly earnings data on Tuesday, April 28th. The utilities provider reported $1.23 earnings per share for the quarter, missing analysts' consensus estimates of $1.30 by ($0.07). The firm had revenue of $9.62 billion during the quarter, compared to analysts' expectations of $8.23 billion. ONEOK had a net margin of 10.03% and a return on equity of 16.06%. During the same period in the previous year, the firm posted $1.04 EPS. ONEOK has set its FY 2026 guidance at 5.530-5.530 EPS. On average, research analysts predict that ONEOK, Inc. will post 5.72 earnings per share for the current year.

ONEOK Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Monday, May 4th were given a dividend of $1.07 per share. The ex-dividend date was Monday, May 4th. This represents a $4.28 dividend on an annualized basis and a dividend yield of 4.8%. ONEOK's dividend payout ratio (DPR) is 76.29%.

ONEOK Company Profile

ONEOK, Inc NYSE: OKE is a publicly traded midstream energy company headquartered in Tulsa, Oklahoma. The company owns and operates a portfolio of natural gas and natural gas liquids (NGL) pipelines, processing facilities, fractionators and storage and terminal assets. Its operations are focused on gathering, processing, transporting, fractionating and marketing NGLs and interstate natural gas, providing critical infrastructure that connects hydrocarbon production to refineries, petrochemical plants and other end markets.

ONEOK's asset base includes pipeline systems and processing plants that move and condition natural gas, along with infrastructure for the transportation, storage and fractionation of NGLs such as ethane, propane and butane.

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