ONEOK, Inc. $OKE Shares Sold by HighTower Advisors LLC

Key Points

• HighTower Advisors reduced its ONEOK stake by 5% in the second quarter, selling 26,798 shares and retaining 510,810 shares valued at approximately $44.4 million. Institutional investors collectively own 69.13% of the company.
• ONEOK reported quarterly EPS of $1.53, beating estimates of $1.46, while revenue reached $12.05 billion versus expectations of $8.95 billion. The stock recently traded at $94.99, near its 52-week high of $96.07.
• The company maintains a quarterly dividend of $1.07, equivalent to $4.28 annually and a 4.5% yield. Analysts have a consensus “Moderate Buy” rating with an average price target of $91.81.

HighTower Advisors LLC trimmed its stake in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 5.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 510,810 shares of the utilities provider's stock after selling 26,798 shares during the quarter. HighTower Advisors LLC owned about 0.08% of ONEOK worth $44,410,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Gryphon Financial Partners LLC lifted its holdings in shares of ONEOK by 9.6% during the second quarter. Gryphon Financial Partners LLC now owns 5,447 shares of the utilities provider's stock worth $474,000 after purchasing an additional 477 shares during the period. KBC Group NV increased its stake in ONEOK by 21.1% in the 2nd quarter. KBC Group NV now owns 64,798 shares of the utilities provider's stock valued at $5,634,000 after buying an additional 11,281 shares during the period. Souders Financial Advisors acquired a new stake in shares of ONEOK in the 2nd quarter worth $235,000. Bayforest Capital Ltd boosted its holdings in shares of ONEOK by 234.7% in the second quarter. Bayforest Capital Ltd now owns 1,349 shares of the utilities provider's stock valued at $117,000 after acquiring an additional 946 shares in the last quarter. Finally, PDS Planning Inc increased its stake in shares of ONEOK by 95.0% during the second quarter. PDS Planning Inc now owns 5,855 shares of the utilities provider's stock worth $509,000 after acquiring an additional 2,852 shares during the period. Hedge funds and other institutional investors own 69.13% of the company's stock.

ONEOK Trading Up 2.5%

NYSE:OKE opened at $94.99 on Friday. ONEOK, Inc. has a 52-week low of $64.02 and a 52-week 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 fifty day simple moving average of $89.48 and a 200-day simple moving average of $87.61. The company has a market capitalization of $59.88 billion, a PE ratio of 16.38, a price-to-earnings-growth ratio of 4.95 and a beta of 0.73.

ONEOK (NYSE:OKE - Get Free Report) last issued its quarterly earnings data on Monday, August 3rd. The utilities provider reported $1.53 EPS for the quarter, beating analysts' consensus estimates of $1.46 by $0.07. The firm had revenue of $12.05 billion for the quarter, compared to analysts' expectations of $8.95 billion. ONEOK had a net margin of 9.29% and a return on equity of 16.41%. During the same period in the prior year, the company earned $1.34 EPS. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. On average, equities research analysts expect that ONEOK, Inc. will post 5.87 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

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

Analyst Ratings Changes

A number of brokerages recently commented on OKE. Morgan Stanley restated an "equal weight" rating and issued a $103.00 price objective (down from $113.00) on shares of ONEOK in a research report on Wednesday, July 29th. TD Cowen lifted their price target on ONEOK from $85.00 to $90.00 and gave the company a "hold" rating in a research note on Thursday, July 16th. Wells Fargo & Company cut their price objective on ONEOK from $100.00 to $98.00 and set an "overweight" rating for the company in a research report on Thursday, April 30th. JPMorgan Chase & Co. boosted their target price on shares of ONEOK from $91.00 to $92.00 and gave the stock a "neutral" rating in a research report on Friday, May 8th. Finally, Truist Financial boosted their price objective on shares of ONEOK from $91.00 to $93.00 and gave the stock a "hold" rating in a report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, ONEOK has a consensus rating of "Moderate Buy" and a consensus price target of $91.81.

ONEOK 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source