Beacon Pointe Advisors LLC Sells 62,000 Shares of ONEOK, Inc. $OKE

Beacon Pointe Advisors LLC lowered its position in ONEOK, Inc. (NYSE:OKE) by 20.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 236,607 shares of the utilities provider’s stock after selling 62,000 shares during the period. Beacon Pointe Advisors LLC’s holdings in ONEOK were worth $19,314,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Assetmark Inc. increased its holdings in ONEOK by 84.0% during the 2nd quarter. Assetmark Inc. now owns 4,047 shares of the utilities provider’s stock worth $330,000 after purchasing an additional 1,848 shares during the period. Morningstar Investment Management LLC lifted its holdings in shares of ONEOK by 18.2% in the 2nd quarter. Morningstar Investment Management LLC now owns 27,375 shares of the utilities provider’s stock worth $2,235,000 after buying an additional 4,206 shares during the period. Meixler Investment Management Ltd. grew its position in shares of ONEOK by 134.0% during the 2nd quarter. Meixler Investment Management Ltd. now owns 30,937 shares of the utilities provider’s stock worth $2,525,000 after buying an additional 17,714 shares in the last quarter. Dark Forest Capital Management LP increased its stake in shares of ONEOK by 409.5% during the first quarter. Dark Forest Capital Management LP now owns 40,372 shares of the utilities provider’s stock valued at $4,006,000 after buying an additional 32,448 shares during the period. Finally, Jackson Hole Capital Partners LLC raised its holdings in shares of ONEOK by 24.6% in the second quarter. Jackson Hole Capital Partners LLC now owns 81,923 shares of the utilities provider’s stock valued at $6,687,000 after acquiring an additional 16,151 shares in the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Stock Performance

Shares of OKE stock opened at $73.64 on Tuesday. ONEOK, Inc. has a 12-month low of $64.02 and a 12-month high of $113.63. The business’s fifty day simple moving average is $70.00 and its 200-day simple moving average is $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. The company 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 (NYSE:OKE) last announced its earnings results on Tuesday, October 28th. The utilities provider reported $1.49 earnings per share for the quarter, topping 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 firm had revenue of $8.63 billion for the quarter, compared to the consensus estimate of $8.23 billion. During the same period in the previous year, the business earned $1.18 EPS. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. Analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

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

Insider Activity at ONEOK

In related news, Director Brian L. Derksen bought 2,500 shares of the stock in a transaction that occurred on Monday, November 3rd. The stock was bought at an average cost of $66.00 per share, for a total transaction of $165,000.00. Following the purchase, the director directly owned 21,200 shares of the company’s stock, valued at approximately $1,399,200. This trade represents a 13.37% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.21% of the stock is owned by insiders.

Analyst Ratings Changes

OKE has been the subject of a number of research reports. Stifel Nicolaus set a $94.00 price objective on shares of ONEOK in a research note on Thursday, October 30th. TD Cowen lowered their price target on shares of ONEOK from $78.00 to $76.00 and set a “hold” rating for the company in a research report on Thursday, October 30th. Scotiabank dropped their price objective on shares of ONEOK from $88.00 to $87.00 and set a “sector outperform” rating on the stock in a research note on Tuesday, November 4th. Morgan Stanley cut their price objective on shares of ONEOK from $122.00 to $110.00 and set an “overweight” rating on the stock in a report on Tuesday, August 26th. Finally, Wells Fargo & Company lowered their target price on ONEOK from $90.00 to $82.00 and set an “equal weight” rating for the company in a report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, ONEOK currently has a consensus rating of “Moderate Buy” and a consensus price target of $89.27.

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.