Wealth Enhancement Advisory Services LLC Sells 31,103 Shares of ONEOK, Inc. $OKE

Key Points

• Wealth Enhancement Advisory Services LLC reduced its holdings in ONEOK, Inc. by 10.7%, selling 31,103 shares, bringing their total shares owned to 259,834, valued at approximately $21.34 million.
• ONEOK reported better-than-expected earnings for the quarter, with an EPS of $1.34, surpassing estimates by $0.01, and had a revenue of $8.21 billion, exceeding forecasts of $7.20 billion.
• The company declared a quarterly dividend of $1.03 per share, resulting in an annualized yield of 5.8% with a payout ratio of 80.31%.

Wealth Enhancement Advisory Services LLC lessened its stake in ONEOK, Inc. (NYSE:OKE - Free Report) by 10.7% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 259,834 shares of the utilities provider's stock after selling 31,103 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in ONEOK were worth $21,343,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Marcum Wealth LLC grew its position in ONEOK by 1.1% in the 1st quarter. Marcum Wealth LLC now owns 10,250 shares of the utilities provider's stock valued at $1,017,000 after buying an additional 108 shares in the last quarter. Presima Securities ULC grew its position in ONEOK by 1.4% in the 1st quarter. Presima Securities ULC now owns 9,477 shares of the utilities provider's stock valued at $940,000 after buying an additional 127 shares in the last quarter. Morey & Quinn Wealth Partners LLC grew its position in ONEOK by 0.8% in the 1st quarter. Morey & Quinn Wealth Partners LLC now owns 15,722 shares of the utilities provider's stock valued at $1,560,000 after buying an additional 130 shares in the last quarter. Clearstead Trust LLC grew its position in ONEOK by 5.0% in the 1st quarter. Clearstead Trust LLC now owns 2,792 shares of the utilities provider's stock valued at $277,000 after buying an additional 133 shares in the last quarter. Finally, BankPlus Wealth Management LLC grew its position in ONEOK by 2.8% in the 1st quarter. BankPlus Wealth Management LLC now owns 4,884 shares of the utilities provider's stock valued at $485,000 after buying an additional 134 shares in the last quarter. Institutional investors own 69.13% of the company's stock.

ONEOK Stock Up 1.5%

NYSE:OKE traded up $1.04 during mid-day trading on Tuesday, reaching $72.66. The stock had a trading volume of 2,188,309 shares, compared to its average volume of 3,891,701. The business's 50 day moving average is $76.14 and its 200 day moving average is $82.27. ONEOK, Inc. has a fifty-two week low of $70.63 and a fifty-two week high of $118.07. The stock has a market cap of $45.76 billion, a P/E ratio of 14.17, a PEG ratio of 1.76 and a beta of 1.04. 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 (NYSE:OKE - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The utilities provider reported $1.34 EPS 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 firm had revenue of $8.21 billion for the quarter, compared to the consensus estimate of $7.20 billion. During the same quarter in the prior year, the company posted $1.33 earnings per share. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. As a group, sell-side analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Friday, August 1st were issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 5.7%. The ex-dividend date was Friday, August 1st. ONEOK's dividend payout ratio (DPR) is 80.31%.

Wall Street Analysts Forecast Growth

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

About ONEOK

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.