U.S. Capital Wealth Advisors LLC Reduces Stock Position in ONEOK, Inc. (NYSE:OKE)

23 Oct 2024, 16:38 by Tristan Rich · The Markets Daily

U.S. Capital Wealth Advisors LLC lessened its stake in ONEOK, Inc. (NYSE:OKE – Free Report) by 7.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,515 shares of the utilities provider’s stock after selling 4,133 shares during the period. U.S. Capital Wealth Advisors LLC’s holdings in ONEOK were worth $4,512,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of OKE. Park Avenue Securities LLC boosted its stake in shares of ONEOK by 13.1% during the first quarter. Park Avenue Securities LLC now owns 7,478 shares of the utilities provider’s stock worth $600,000 after buying an additional 864 shares during the period. Ballentine Partners LLC lifted its position in ONEOK by 8.2% in the first quarter. Ballentine Partners LLC now owns 4,224 shares of the utilities provider’s stock valued at $339,000 after purchasing an additional 319 shares during the period. Global Assets Advisory LLC acquired a new stake in ONEOK in the first quarter valued at about $3,195,000. Dynamic Advisor Solutions LLC lifted its position in ONEOK by 1.8% in the first quarter. Dynamic Advisor Solutions LLC now owns 19,474 shares of the utilities provider’s stock valued at $1,561,000 after purchasing an additional 350 shares during the period. Finally, Sovereign Financial Group Inc. acquired a new stake in ONEOK in the first quarter valued at about $218,000. Institutional investors and hedge funds own 69.13% of the company’s stock.

Analyst Ratings Changes

OKE has been the subject of a number of research analyst reports. Royal Bank of Canada increased their target price on shares of ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a report on Wednesday, October 16th. Mizuho raised their price objective on shares of ONEOK from $81.00 to $85.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Tudor Pickering raised shares of ONEOK to a “hold” rating in a research note on Thursday, July 18th. Truist Financial raised their price objective on shares of ONEOK from $81.00 to $83.00 and gave the stock a “hold” rating in a research note on Wednesday, July 31st. Finally, Citigroup raised their price objective on shares of ONEOK from $85.00 to $102.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Eight investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, ONEOK has a consensus rating of “Moderate Buy” and an average price target of $94.77.

Read Our Latest Stock Report on OKE

ONEOK Trading Down 0.5 %

Shares of NYSE OKE traded down $0.53 during trading on Wednesday, hitting $96.84. 435,845 shares of the company traded hands, compared to its average volume of 2,726,639. The company has a 50-day moving average price of $92.25 and a 200-day moving average price of $84.96. The company has a quick ratio of 0.41, a current ratio of 0.62 and a debt-to-equity ratio of 1.22. ONEOK, Inc. has a 1 year low of $63.33 and a 1 year high of $98.43. The firm has a market capitalization of $56.56 billion, a P/E ratio of 21.26, a P/E/G ratio of 4.20 and a beta of 1.67.

ONEOK (NYSE:OKE – Get Free Report) last announced its quarterly earnings results on Monday, August 5th. The utilities provider reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.12. ONEOK had a net margin of 13.41% and a return on equity of 15.54%. The firm had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $5.52 billion. During the same period in the prior year, the company earned $1.04 EPS. On average, equities analysts predict that ONEOK, Inc. will post 5.06 EPS for the current year.

ONEOK Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Friday, November 1st will be given a $0.99 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a $3.96 dividend on an annualized basis and a yield of 4.09%. ONEOK’s payout ratio is currently 86.27%.

Insider Buying and Selling at ONEOK

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $92.01, for a total value of $310,901.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.20% of the stock is currently owned by corporate insiders.

About ONEOK

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