Selective Wealth Management Inc. Sells 4,529 Shares of ONEOK, Inc. $OKE

Key Points

• Selective Wealth Management Inc. reduced its holdings in ONEOK, Inc. by 39.3%, selling 4,529 shares and now owning 6,988 shares valued at approximately $567,000.
• Wall Street analysts have varied opinions on ONEOK, with ratings ranging from Strong Buy to Hold, and an average price target of $100.60.
• ONEOK recently announced a quarterly dividend of $1.03 per share, translating to an annual yield of 5.6%, with a payout ratio of 80.31%.

Selective Wealth Management Inc. trimmed its position in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 39.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,988 shares of the utilities provider's stock after selling 4,529 shares during the period. Selective Wealth Management Inc.'s holdings in ONEOK were worth $567,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Marcum Wealth LLC increased its holdings in ONEOK by 1.1% during the first quarter. Marcum Wealth LLC now owns 10,250 shares of the utilities provider's stock worth $1,017,000 after buying an additional 108 shares during the last quarter. Presima Securities ULC increased its holdings in shares of ONEOK by 1.4% in the first quarter. Presima Securities ULC now owns 9,477 shares of the utilities provider's stock valued at $940,000 after purchasing an additional 127 shares during the last quarter. Morey & Quinn Wealth Partners LLC increased its holdings in shares of ONEOK by 0.8% in the first quarter. Morey & Quinn Wealth Partners LLC now owns 15,722 shares of the utilities provider's stock valued at $1,560,000 after purchasing an additional 130 shares during the last quarter. Clearstead Trust LLC increased its holdings in shares of ONEOK by 5.0% in the first quarter. Clearstead Trust LLC now owns 2,792 shares of the utilities provider's stock valued at $277,000 after purchasing an additional 133 shares during the last quarter. Finally, BankPlus Wealth Management LLC increased its holdings in shares of ONEOK by 2.8% in the first quarter. BankPlus Wealth Management LLC now owns 4,884 shares of the utilities provider's stock valued at $485,000 after purchasing an additional 134 shares during the last quarter. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

OKE has been the topic of several research reports. TD Cowen initiated coverage on shares of ONEOK in a report on Monday, July 7th. They issued a "hold" rating and a $91.00 price objective on the stock. Royal Bank Of Canada decreased their price objective on shares of ONEOK from $94.00 to $88.00 and set a "sector perform" rating on the stock in a report on Wednesday, August 13th. Mizuho decreased their price objective on shares of ONEOK from $87.00 to $82.00 and set a "neutral" rating on the stock in a report on Friday, August 29th. JPMorgan Chase & Co. boosted their target price on shares of ONEOK from $94.00 to $97.00 and gave the company an "overweight" rating in a research report on Thursday, July 3rd. Finally, Morgan Stanley cut their price objective on shares of ONEOK from $122.00 to $110.00 and set an "overweight" rating for the company in a research report on Tuesday, August 26th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $100.60.

ONEOK Stock Performance

ONEOK stock opened at $73.61 on Friday. The company has a market capitalization of $46.36 billion, a P/E ratio of 14.35, a P/E/G ratio of 1.74 and a beta of 1.04. The business has a 50 day moving average of $76.53 and a 200-day moving average of $82.67. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.59 and a quick ratio of 0.46. ONEOK, Inc. has a 1 year low of $70.63 and a 1 year high of $118.07.

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

ONEOK Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Friday, August 1st were given a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 5.6%. The ex-dividend date of this dividend was Friday, August 1st. ONEOK's dividend payout ratio is currently 80.31%.

ONEOK Company 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.

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