AMJ Financial Wealth Management Has $2.61 Million Holdings in ONEOK, Inc. $OKE

AMJ Financial Wealth Management cut its position in shares of ONEOK, Inc. (NYSE:OKE) by 31.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 31,955 shares of the utilities provider’s stock after selling 14,615 shares during the quarter. AMJ Financial Wealth Management’s holdings in ONEOK were worth $2,608,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in OKE. Access Investment Management LLC purchased a new stake in shares of ONEOK in the 2nd quarter valued at approximately $33,000. Financial Network Wealth Advisors LLC lifted its holdings in shares of ONEOK by 2,466.7% in the first 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 in the last quarter. Trust Co. of Toledo NA OH acquired a new stake in shares of ONEOK in the second quarter worth $42,000. MTM Investment Management LLC purchased a new position in shares of ONEOK during the second quarter valued at $44,000. Finally, Cheviot Value Management LLC acquired a new position in ONEOK during the first quarter valued at $46,000. 69.13% of the stock is owned by hedge funds and other institutional investors.

ONEOK Stock Up 1.1%

OKE stock opened at $73.64 on Tuesday. The firm has a market cap of $46.34 billion, a PE ratio of 13.54, a PEG ratio of 2.62 and a beta of 1.05. ONEOK, Inc. has a 1 year low of $64.02 and a 1 year high of $113.63. The company has a fifty day simple moving average of $70.00 and a 200 day simple moving average of $75.61. The company has a current ratio of 0.90, a quick ratio of 0.46 and a debt-to-equity ratio of 1.44.

ONEOK (NYSE:OKE) last posted its earnings results on Tuesday, October 28th. The utilities provider reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.48 by $0.01. ONEOK had a return on equity of 15.12% and a net margin of 10.58%.The company had revenue of $8.63 billion for the quarter, compared to analyst estimates of $8.23 billion. During the same period last year, the company earned $1.18 earnings per share. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. Sell-side analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Monday, November 3rd were issued a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 5.6%. The ex-dividend date was Monday, November 3rd. ONEOK’s payout ratio is 75.74%.

Insider Transactions at ONEOK

In related news, Director Brian L. Derksen purchased 2,500 shares of the stock in a transaction on Monday, November 3rd. The shares were bought at an average price of $66.00 per share, for a total transaction of $165,000.00. Following the completion of the acquisition, the director directly owned 21,200 shares in the company, valued at approximately $1,399,200. This trade represents a 13.37% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.21% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on OKE. Raymond James Financial restated an “outperform” rating and set a $82.00 price objective (down from $100.00) on shares of ONEOK in a research report on Friday, October 24th. Wells Fargo & Company decreased their price target on shares of ONEOK from $90.00 to $82.00 and set an “equal weight” rating for the company in a report on Thursday, October 30th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ONEOK in a research report on Tuesday, November 25th. Morgan Stanley dropped their price objective on shares of ONEOK from $122.00 to $110.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 26th. Finally, Barclays decreased their target price on shares of ONEOK from $83.00 to $78.00 and set an “equal weight” rating for the company in a research note on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.27.

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.