Summit Financial Wealth Advisors LLC Sells 70,261 Shares of ONEOK, Inc. $OKE

Key Points

• Summit Financial Wealth Advisors LLC reduced its stake in ONEOK by 72.8%, selling 70,261 shares in Q4 and retaining 26,279 shares valued at $1.932 million.
• ONEOK beat Q4 estimates with $1.55 EPS (vs. $1.50 expected) and $9.07 billion in revenue, and set FY 2026 guidance at 5.040–5.870 EPS (analysts forecast ~5.54 EPS).
• The company raised its quarterly dividend to $1.07 (a 5.1% dividend yield), institutional investors hold about 69.13% of the stock, and analysts' consensus is a "Moderate Buy" with a $89.69 target.

Summit Financial Wealth Advisors LLC decreased its holdings in ONEOK, Inc. (NYSE:OKE - Free Report) by 72.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 26,279 shares of the utilities provider's stock after selling 70,261 shares during the period. Summit Financial Wealth Advisors LLC's holdings in ONEOK were worth $1,932,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of ONEOK by 0.9% in the 3rd quarter. Vanguard Group Inc. now owns 77,222,590 shares of the utilities provider's stock valued at $5,634,932,000 after acquiring an additional 711,619 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of ONEOK by 6.3% in the 3rd quarter. Invesco Ltd. now owns 8,919,098 shares of the utilities provider's stock valued at $650,827,000 after acquiring an additional 532,267 shares during the last quarter. First Eagle Investment Management LLC lifted its holdings in shares of ONEOK by 24.2% in the 3rd quarter. First Eagle Investment Management LLC now owns 7,769,215 shares of the utilities provider's stock valued at $566,920,000 after acquiring an additional 1,513,042 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of ONEOK by 14.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 5,433,178 shares of the utilities provider's stock valued at $396,462,000 after acquiring an additional 703,834 shares during the last quarter. Finally, Legal & General Group Plc lifted its holdings in shares of ONEOK by 1.6% in the 3rd quarter. Legal & General Group Plc now owns 5,218,376 shares of the utilities provider's stock valued at $380,785,000 after acquiring an additional 80,683 shares during the last quarter. Institutional investors own 69.13% of the company's stock.

ONEOK Stock Performance

ONEOK stock opened at $83.81 on Tuesday. The company has a 50 day moving average price of $86.70 and a 200-day moving average price of $77.46. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.56 and a current ratio of 0.71. ONEOK, Inc. has a fifty-two week low of $64.02 and a fifty-two week high of $95.30. The company has a market capitalization of $52.81 billion, a PE ratio of 15.46, a P/E/G ratio of 6.30 and a beta of 0.84.

ONEOK (NYSE:OKE - Get Free Report) last posted its quarterly earnings results on Monday, February 23rd. The utilities provider reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.05. ONEOK had a net margin of 10.09% and a return on equity of 15.29%. The firm had revenue of $9.07 billion during the quarter, compared to the consensus estimate of $8.77 billion. During the same quarter in the previous year, the firm posted $1.57 earnings per share. ONEOK has set its FY 2026 guidance at 5.040-5.870 EPS. As a group, equities analysts forecast that ONEOK, Inc. will post 5.54 earnings per share for the current year.

ONEOK Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Monday, February 2nd were paid a dividend of $1.07 per share. This is a boost from ONEOK's previous quarterly dividend of $1.03. This represents a $4.28 annualized dividend and a dividend yield of 5.1%. The ex-dividend date of this dividend was Monday, February 2nd. ONEOK's payout ratio is presently 78.97%.

Wall Street Analyst Weigh In

OKE has been the subject of a number of analyst reports. Jefferies Financial Group increased their price target on shares of ONEOK from $98.00 to $100.00 and gave the company a "buy" rating in a report on Wednesday, April 8th. Morgan Stanley raised their price objective on shares of ONEOK from $104.00 to $113.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 7th. Wolfe Research downgraded shares of ONEOK from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, February 25th. Wells Fargo & Company raised shares of ONEOK from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $81.00 to $100.00 in a research note on Wednesday, March 25th. Finally, Truist Financial began coverage on shares of ONEOK in a research note on Tuesday, March 24th. They issued a "hold" rating and a $91.00 price objective for the company. Nine equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $89.69.

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.

Want to see what other hedge funds are holding OKE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ONEOK, Inc. (NYSE:OKE - Free Report).

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.