Apollon Wealth Management LLC Reduces Stock Position in ONEOK, Inc. $OKE

Apollon Wealth Management LLC lowered its position in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 9.0% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 37,587 shares of the utilities provider's stock after selling 3,727 shares during the period. Apollon Wealth Management LLC's holdings in ONEOK were worth $3,068,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. First Pacific Financial purchased a new stake in ONEOK during the 1st quarter valued at $34,000. Financial Network Wealth Advisors LLC lifted its position in shares of 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 during the period. MorganRosel Wealth Management LLC purchased a new stake in shares of ONEOK in the 1st quarter worth about $39,000. Financial Gravity Asset Management Inc. purchased a new position in ONEOK during the 1st quarter valued at about $40,000. Finally, Rakuten Securities Inc. lifted its position in ONEOK by 152.1% during the 1st quarter. Rakuten Securities Inc. now owns 421 shares of the utilities provider's stock valued at $42,000 after acquiring an additional 254 shares during the period. Hedge funds and other institutional investors own 69.13% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on OKE shares. TD Cowen initiated coverage on shares of ONEOK in a research report on Monday, July 7th. They set a "hold" rating and a $91.00 price target for the company. JPMorgan Chase & Co. lifted their price target on shares of ONEOK from $94.00 to $97.00 and gave the stock an "overweight" rating in a research note on Thursday, July 3rd. Scotiabank set a $92.00 price target on shares of ONEOK and gave the stock a "sector outperform" rating in a research note on Tuesday, July 15th. Raymond James Financial restated an "outperform" rating on shares of ONEOK in a research report on Friday, August 1st. Finally, The Goldman Sachs Group initiated coverage on shares of ONEOK in a research report on Tuesday, September 30th. They set a "neutral" rating and a $75.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, ONEOK presently has a consensus rating of "Moderate Buy" and a consensus target price of $98.69.

ONEOK Stock Down 2.9%

NYSE:OKE opened at $69.22 on Monday. ONEOK, Inc. has a fifty-two week low of $69.08 and a fifty-two week high of $118.07. The stock has a market capitalization of $43.59 billion, a P/E ratio of 13.49, a P/E/G ratio of 1.69 and a beta of 1.01. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.46 and a current ratio of 0.59. The company's 50-day simple moving average is $73.67 and its 200-day simple moving average is $79.81.

ONEOK (NYSE:OKE - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The utilities provider reported $1.34 EPS for the quarter, topping the consensus estimate of $1.33 by $0.01. The business had revenue of $8.21 billion during the quarter, compared to the consensus estimate of $7.20 billion. ONEOK had a net margin of 11.06% and a return on equity of 14.90%. During the same period in the previous year, the firm posted $1.33 earnings per share. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. On average, equities analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Friday, August 1st were given a dividend of $1.03 per share. The ex-dividend date of this dividend was Friday, August 1st. This represents a $4.12 annualized dividend and a dividend yield of 6.0%. ONEOK's payout ratio is presently 80.31%.

ONEOK Company 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.

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