Silver Oak Securities Incorporated Lowers Stock Position in ONEOK, Inc. $OKE

Silver Oak Securities Incorporated lessened its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 19.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,792 shares of the utilities provider’s stock after selling 670 shares during the quarter. Silver Oak Securities Incorporated’s holdings in ONEOK were worth $228,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in OKE. First Pacific Financial bought a new stake in ONEOK during the 1st quarter valued at approximately $34,000. Financial Network Wealth Advisors LLC raised its stake in ONEOK by 2,466.7% during the 1st quarter. Financial Network Wealth Advisors LLC now owns 385 shares of the utilities provider’s stock valued at $38,000 after purchasing an additional 370 shares during the period. MorganRosel Wealth Management LLC bought a new stake in ONEOK during the 1st quarter valued at approximately $39,000. Financial Gravity Asset Management Inc. bought a new stake in ONEOK during the 1st quarter valued at approximately $40,000. Finally, Rakuten Securities Inc. raised its stake in ONEOK by 152.1% during the 1st quarter. Rakuten Securities Inc. now owns 421 shares of the utilities provider’s stock valued at $42,000 after purchasing an additional 254 shares during the period. Institutional investors own 69.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on OKE. JPMorgan Chase & Co. lifted their price objective on ONEOK from $94.00 to $97.00 and gave the stock an “overweight” rating in a research note on Thursday, July 3rd. TD Cowen began coverage on ONEOK in a research note on Monday, July 7th. They issued a “hold” rating and a $91.00 price objective on the stock. Barclays set a $83.00 price objective on ONEOK in a research note on Thursday, August 14th. Scotiabank set a $92.00 price objective on ONEOK and gave the stock a “sector outperform” rating in a research note on Tuesday, July 15th. Finally, Raymond James Financial reiterated an “outperform” rating on shares of ONEOK in a report on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $100.60.

ONEOK Price Performance

OKE opened at $72.52 on Wednesday. The business has a fifty day moving average of $75.99 and a 200 day moving average of $82.21. ONEOK, Inc. has a 52-week low of $70.63 and a 52-week high of $118.07. The company has a quick ratio of 0.46, a current ratio of 0.59 and a debt-to-equity ratio of 1.35. The stock has a market cap of $45.67 billion, a P/E ratio of 14.14, a PEG ratio of 1.76 and a beta of 1.04.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Monday, August 4th. The utilities provider reported $1.34 earnings per share (EPS) for the quarter, beating 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 company had revenue of $8.21 billion during the quarter, compared to analysts’ expectations of $7.20 billion. During the same quarter in the previous year, the business earned $1.33 EPS. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. As a group, sell-side analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Friday, August 1st were issued a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 5.7%. The ex-dividend date was Friday, August 1st. ONEOK’s dividend payout ratio is currently 80.31%.

ONEOK 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.