Cumberland Partners Ltd Has $362,000 Stock Position in ONEOK, Inc. $OKE

Key Points

• Cumberland Partners cut its ONEOK stake by 75.2% in the second quarter, selling 12,630 shares and retaining 4,160 shares valued at approximately $362,000.
• ONEOK has a “Moderate Buy” consensus rating from analysts, with an average price target of $91.81, despite mixed recent upgrades and downgrades.
• ONEOK exceeded quarterly earnings expectations with $1.53 in EPS and $12.05 billion in revenue, while maintaining a quarterly dividend of $1.07 per share, equivalent to a 4.5% annualized yield.

Cumberland Partners Ltd lowered its stake in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 75.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,160 shares of the utilities provider's stock after selling 12,630 shares during the quarter. Cumberland Partners Ltd's holdings in ONEOK were worth $362,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of OKE. Meridian Wealth Management LLC grew its position in ONEOK by 1.8% in the 2nd quarter. Meridian Wealth Management LLC now owns 6,598 shares of the utilities provider's stock worth $574,000 after purchasing an additional 115 shares during the last quarter. Clearstead Trust LLC increased its holdings in shares of ONEOK by 4.7% during the 1st quarter. Clearstead Trust LLC now owns 2,632 shares of the utilities provider's stock worth $238,000 after purchasing an additional 117 shares during the period. Hoxton Planning & Management LLC raised its position in shares of ONEOK by 2.3% during the fourth quarter. Hoxton Planning & Management LLC now owns 5,372 shares of the utilities provider's stock valued at $395,000 after buying an additional 120 shares during the last quarter. Welch Group LLC raised its position in shares of ONEOK by 0.8% during the first quarter. Welch Group LLC now owns 14,859 shares of the utilities provider's stock valued at $1,343,000 after buying an additional 122 shares during the last quarter. Finally, Pine Valley Investments Ltd Liability Co lifted its stake in shares of ONEOK by 0.5% in the first quarter. Pine Valley Investments Ltd Liability Co now owns 26,261 shares of the utilities provider's stock valued at $2,374,000 after buying an additional 122 shares during the period. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Truist Financial lifted their target price on ONEOK from $91.00 to $93.00 and gave the stock a "hold" rating in a research report on Monday, May 4th. Scotiabank downgraded ONEOK from a "sector outperform" rating to a "sector perform" rating and reduced their price objective for the stock from $92.00 to $89.00 in a research report on Thursday, April 30th. Weiss Ratings raised ONEOK from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, May 18th. Wall Street Zen upgraded ONEOK from a "sell" rating to a "hold" rating in a research report on Sunday, August 9th. Finally, Freedom Capital raised ONEOK from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $91.81.

ONEOK Stock Performance

NYSE OKE opened at $94.99 on Friday. ONEOK, Inc. has a twelve month low of $64.02 and a twelve month high of $96.07. The company has a quick ratio of 0.59, a current ratio of 0.74 and a debt-to-equity ratio of 1.34. The stock has a market cap of $59.88 billion, a P/E ratio of 16.38, a PEG ratio of 4.95 and a beta of 0.73. The company's 50-day simple moving average is $89.48 and its 200 day simple moving average is $87.61.

ONEOK (NYSE:OKE - Get Free Report) last announced its quarterly earnings results on Monday, August 3rd. The utilities provider reported $1.53 EPS for the quarter, topping 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 analysts' expectations of $8.95 billion. During the same quarter last year, the company earned $1.34 earnings per share. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. As a group, research analysts forecast that ONEOK, Inc. will post 5.87 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Monday, August 3rd were given a dividend of $1.07 per share. The ex-dividend date was Monday, August 3rd. This represents a $4.28 dividend on an annualized basis and a dividend yield of 4.5%. ONEOK's dividend payout ratio (DPR) is 73.79%.

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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