Chicago Partners Investment Group LLC Sells 4,487 Shares of ONEOK, Inc. $OKE

Key Points

• Chicago Partners Investment Group LLC reduced its holdings in ONEOK, Inc. by 1.6%, selling 4,487 shares and holding a total of 273,177 shares worth approximately $22.31 million.
• Multiple hedge funds have altered their stakes in ONEOK, with Brighton Jones LLC increasing its stake by 137.1%, contributing to the 69.13% institutional ownership of the stock.
• ONEOK announced a quarterly dividend of $1.03, which results in an annualized dividend of $4.12, offering a dividend yield of 6.1%.

Chicago Partners Investment Group LLC cut its holdings in ONEOK, Inc. (NYSE:OKE - Free Report) by 1.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 273,177 shares of the utilities provider's stock after selling 4,487 shares during the period. Chicago Partners Investment Group LLC's holdings in ONEOK were worth $22,310,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of OKE. Brighton Jones LLC grew its stake in ONEOK by 137.1% in the 4th quarter. Brighton Jones LLC now owns 15,278 shares of the utilities provider's stock valued at $1,534,000 after purchasing an additional 8,834 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in shares of ONEOK by 20.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 290,937 shares of the utilities provider's stock worth $28,867,000 after purchasing an additional 50,272 shares during the period. QRG Capital Management Inc. boosted its holdings in shares of ONEOK by 5.4% in the 1st quarter. QRG Capital Management Inc. now owns 7,467 shares of the utilities provider's stock worth $741,000 after buying an additional 384 shares during the last quarter. Retirement Systems of Alabama boosted its holdings in shares of ONEOK by 5.4% in the 1st quarter. Retirement Systems of Alabama now owns 133,325 shares of the utilities provider's stock worth $13,229,000 after buying an additional 6,843 shares during the last quarter. Finally, L.M. Kohn & Company grew its position in ONEOK by 23.2% during the first quarter. L.M. Kohn & Company now owns 3,030 shares of the utilities provider's stock valued at $301,000 after buying an additional 570 shares during the period. 69.13% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on OKE shares. Royal Bank Of Canada lowered their price objective on shares of ONEOK from $94.00 to $88.00 and set a "sector perform" rating on the stock in a research report on Wednesday, August 13th. Raymond James Financial restated an "outperform" rating on shares of ONEOK in a research note on Friday, August 1st. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of ONEOK in a report on Wednesday, October 8th. Scotiabank set a $92.00 price objective on ONEOK and gave the company a "sector outperform" rating in a research note on Tuesday, July 15th. Finally, Morgan Stanley reduced their price objective on ONEOK from $122.00 to $110.00 and set an "overweight" rating for the company in a report on Tuesday, August 26th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $98.27.

ONEOK Trading Up 1.3%

Shares of ONEOK stock opened at $68.08 on Friday. ONEOK, Inc. has a 12-month low of $66.56 and a 12-month high of $118.07. The company has a market cap of $42.88 billion, a price-to-earnings ratio of 13.27, a PEG ratio of 1.67 and a beta of 1.01. The company has a current ratio of 0.59, a quick ratio of 0.46 and a debt-to-equity ratio of 1.35. The company's 50-day moving average price is $72.92 and its 200-day moving average price is $78.88.

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

ONEOK Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Monday, November 3rd will be given a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 6.1%. The ex-dividend date is Monday, November 3rd. ONEOK's dividend payout ratio (DPR) is 80.31%.

About ONEOK

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.