Forum Financial Management LP Sells 7,861 Shares of ONEOK, Inc. $OKE

Forum Financial Management LP reduced its stake in ONEOK, Inc. (NYSE:OKE) by 5.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 146,703 shares of the utilities provider’s stock after selling 7,861 shares during the quarter. ONEOK comprises 0.2% of Forum Financial Management LP’s holdings, making the stock its 29th largest holding. Forum Financial Management LP’s holdings in ONEOK were worth $13,261,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Zions Bancorporation National Association UT increased its position in shares of ONEOK by 73.3% during the fourth quarter. Zions Bancorporation National Association UT now owns 338 shares of the utilities provider’s stock worth $25,000 after buying an additional 143 shares during the period. Portus Wealth Advisors LLC acquired a new stake in ONEOK during the 1st quarter worth about $33,000. Elyxium Wealth LLC bought a new position in shares of ONEOK in the 4th quarter worth about $29,000. Cornerstone Financial Management LLC bought a new position in shares of ONEOK in the 4th quarter worth about $29,000. Finally, SRH Advisors LLC lifted its stake in shares of ONEOK by 122.3% in the 4th quarter. SRH Advisors LLC now owns 438 shares of the utilities provider’s stock valued at $32,000 after purchasing an additional 241 shares during the period. Institutional investors and hedge funds own 69.13% of the company’s stock.

Wall Street Analysts Forecast Growth

OKE has been the topic of several research analyst reports. TD Cowen upped their target price on ONEOK from $80.00 to $85.00 and gave the company a “hold” rating in a research report on Thursday, April 30th. Freedom Capital raised ONEOK from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 5th. Scotiabank cut ONEOK from a “sector outperform” rating to a “sector perform” rating and cut their price target for the stock from $92.00 to $89.00 in a report on Thursday, April 30th. Barclays raised their price objective on shares of ONEOK from $82.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 30th. Finally, Weiss Ratings upgraded shares of ONEOK from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, May 18th. Eight investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $91.88.

ONEOK Stock Performance

NYSE OKE opened at $88.80 on Tuesday. The company has a fifty day simple moving average of $88.39 and a 200 day simple moving average of $83.70. ONEOK, Inc. has a 12-month low of $64.02 and a 12-month high of $96.07. The company has a current ratio of 0.71, a quick ratio of 0.56 and a debt-to-equity ratio of 1.37. The company has a market cap of $55.96 billion, a P/E ratio of 15.83, a PEG ratio of 6.67 and a beta of 0.74.

ONEOK (NYSE:OKE) last released its quarterly earnings data on Tuesday, April 28th. The utilities provider reported $1.23 earnings per share for the quarter, missing the consensus estimate of $1.30 by ($0.07). ONEOK had a return on equity of 16.06% and a net margin of 10.03%.The business had revenue of $9.62 billion for the quarter, compared to analyst estimates of $8.23 billion. During the same quarter in the previous year, the company posted $1.04 EPS. ONEOK has set its FY 2026 guidance at 5.530-5.530 EPS. Sell-side analysts predict that ONEOK, Inc. will post 5.72 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Monday, May 4th were issued a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date was Monday, May 4th. ONEOK’s dividend payout ratio is currently 76.29%.

ONEOK Profile

ONEOK, Inc (NYSE: OKE) is a publicly traded midstream energy company headquartered in Tulsa, Oklahoma. The company owns and operates a portfolio of natural gas and natural gas liquids (NGL) pipelines, processing facilities, fractionators and storage and terminal assets. Its operations are focused on gathering, processing, transporting, fractionating and marketing NGLs and interstate natural gas, providing critical infrastructure that connects hydrocarbon production to refineries, petrochemical plants and other end markets.

ONEOK’s asset base includes pipeline systems and processing plants that move and condition natural gas, along with infrastructure for the transportation, storage and fractionation of NGLs such as ethane, propane and butane.