ONEOK, Inc. $OKE Shares Sold by Cyndeo Wealth Partners LLC

Key Points

• Cyndeo Wealth Partners LLC significantly reduced its stake in ONEOK, Inc. by 87.7%, selling 75,035 shares and now holding 10,501 shares valued at $857,000.
• Several large investors, including Vanguard Group Inc. and Charles Schwab Investment Management Inc., have increased their holdings in ONEOK during the first quarter, indicating positive institutional interest in the stock.
• ONEOK's recent earnings report showed a net margin of 11.06% and a higher-than-expected revenue of $8.21 billion, highlighting its strong performance despite market fluctuations.

Cyndeo Wealth Partners LLC cut its stake in ONEOK, Inc. (NYSE:OKE - Free Report) by 87.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,501 shares of the utilities provider's stock after selling 75,035 shares during the period. Cyndeo Wealth Partners LLC's holdings in ONEOK were worth $857,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in OKE. Vanguard Group Inc. increased its holdings in shares of ONEOK by 7.2% during the first quarter. Vanguard Group Inc. now owns 75,196,969 shares of the utilities provider's stock valued at $7,461,043,000 after purchasing an additional 5,076,705 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of ONEOK by 13.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 20,957,230 shares of the utilities provider's stock valued at $2,079,376,000 after purchasing an additional 2,542,449 shares during the period. Invesco Ltd. increased its holdings in shares of ONEOK by 25.1% during the first quarter. Invesco Ltd. now owns 8,339,939 shares of the utilities provider's stock valued at $827,489,000 after purchasing an additional 1,674,706 shares during the period. Tortoise Capital Advisors L.L.C. increased its holdings in shares of ONEOK by 17.1% during the first quarter. Tortoise Capital Advisors L.L.C. now owns 7,171,795 shares of the utilities provider's stock valued at $711,586,000 after purchasing an additional 1,047,810 shares during the period. Finally, Northern Trust Corp increased its holdings in shares of ONEOK by 5.3% during the first quarter. Northern Trust Corp now owns 6,879,863 shares of the utilities provider's stock valued at $682,620,000 after purchasing an additional 344,002 shares during the period. 69.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

OKE has been the topic of a number of research analyst reports. Morgan Stanley lowered their price target on ONEOK from $122.00 to $110.00 and set an "overweight" rating on the stock in a report on Tuesday, August 26th. Mizuho lowered their price target on ONEOK from $87.00 to $82.00 and set a "neutral" rating on the stock in a report on Friday, August 29th. Royal Bank Of Canada decreased their target price on ONEOK from $94.00 to $88.00 and set a "sector perform" rating for the company in a research note on Wednesday, August 13th. The Goldman Sachs Group started coverage on ONEOK in a research note on Tuesday, September 30th. They set a "neutral" rating and a $75.00 target price for the company. Finally, TD Cowen started coverage on ONEOK in a research note on Monday, July 7th. They set a "hold" rating and a $91.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $98.69.

ONEOK Price Performance

Shares of NYSE:OKE opened at $69.22 on Friday. ONEOK, Inc. has a fifty-two week low of $69.08 and a fifty-two week high of $118.07. The business has a 50-day simple moving average of $73.67 and a two-hundred day simple moving average of $80.09. 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 firm has a market cap of $43.59 billion, a price-to-earnings ratio of 13.49, a price-to-earnings-growth ratio of 1.75 and a beta of 1.01.

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

ONEOK Dividend Announcement

The firm 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 dividend payout ratio is presently 80.31%.

ONEOK 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.

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.