NewEdge Advisors LLC Reduces Holdings in ONEOK, Inc. $OKE

Key Points

• NewEdge Advisors reduced its ONEOK stake by 8% in the second quarter, selling 16,173 shares and retaining 186,541 shares valued at approximately $16.2 million. Institutional investors collectively own 69.13% of the company.
• Analysts maintain a generally cautious outlook, with ONEOK carrying a consensus “Hold” rating and an average price target of $96.62. The stock recently traded at $95.74, near its 52-week high of $99.85.
• ONEOK exceeded quarterly earnings expectations, reporting $1.53 in EPS versus the $1.46 consensus estimate, while revenue reached $12.05 billion. The company also paid a quarterly dividend of $1.07 per share, representing a 4.5% annualized yield.

NewEdge Advisors LLC trimmed its stake in ONEOK, Inc. (NYSE:OKE - Free Report) by 8.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 186,541 shares of the utilities provider's stock after selling 16,173 shares during the quarter. NewEdge Advisors LLC's holdings in ONEOK were worth $16,218,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of OKE. Zions Bancorporation National Association UT lifted its stake in shares of ONEOK by 73.3% during the 4th quarter. Zions Bancorporation National Association UT now owns 338 shares of the utilities provider's stock worth $25,000 after purchasing an additional 143 shares during the period. Pin Oak Investment Advisors Inc. purchased a new stake in shares of ONEOK in the second quarter valued at $28,000. Elyxium Wealth LLC purchased a new stake in shares of ONEOK in the fourth quarter valued at $29,000. Cornerstone Financial Management LLC acquired a new position in ONEOK in the fourth quarter valued at $29,000. Finally, Transamerica Financial Advisors LLC increased its stake in ONEOK by 69.6% in the second quarter. Transamerica Financial Advisors LLC now owns 363 shares of the utilities provider's stock valued at $32,000 after purchasing an additional 149 shares during the last quarter. Institutional investors and hedge funds own 69.13% of the company's stock.

Wall Street Analysts Forecast Growth

OKE has been the subject of a number of research analyst reports. Wall Street Zen raised shares of ONEOK from a "sell" rating to a "hold" rating in a research note on Sunday, August 9th. Stifel Nicolaus started coverage on shares of ONEOK in a report on Thursday. They issued a "hold" rating and a $105.00 target price for the company. Barclays dropped their price target on shares of ONEOK from $90.00 to $88.00 and set an "equal weight" rating for the company in a research report on Wednesday, July 8th. TD Cowen increased their price target on shares of ONEOK from $85.00 to $90.00 and gave the stock a "hold" rating in a research note on Thursday, July 16th. Finally, Freedom Capital upgraded shares of ONEOK from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat.com, ONEOK presently has an average rating of "Hold" and a consensus target price of $96.62.

ONEOK Price Performance

Shares of NYSE OKE opened at $95.74 on Friday. ONEOK, Inc. has a 1-year low of $64.02 and a 1-year high of $99.85. The business has a 50-day moving average of $92.38 and a 200-day moving average of $89.40. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.74 and a quick ratio of 0.59. The company has a market capitalization 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 (NYSE:OKE - Get Free Report) last posted its earnings results 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. The business had revenue of $12.05 billion during the quarter, compared to analyst estimates of $8.95 billion. ONEOK had a return on equity of 16.41% and a net margin of 9.29%.During the same quarter last year, the firm earned $1.34 earnings per share. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. On average, equities analysts anticipate that ONEOK, Inc. will post 5.74 EPS for the current fiscal year.

ONEOK Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Monday, August 3rd were paid 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 currently 73.79%.

ONEOK Company Profile

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.

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