Wealth Enhancement Advisory Services LLC Has $17.67 Million Stock Holdings in ONEOK, Inc. $OKE

Wealth Enhancement Advisory Services LLC trimmed its position in ONEOK, Inc. (NYSE:OKE) by 6.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 243,901 shares of the utilities provider’s stock after selling 15,933 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in ONEOK were worth $17,671,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of ONEOK during the second quarter valued at approximately $562,832,000. First Eagle Investment Management LLC lifted its holdings in shares of ONEOK by 130.8% in the 2nd quarter. First Eagle Investment Management LLC now owns 6,256,173 shares of the utilities provider’s stock worth $510,691,000 after purchasing an additional 3,545,256 shares in the last quarter. Boston Partners grew its position in ONEOK by 53.7% in the 2nd quarter. Boston Partners now owns 5,509,100 shares of the utilities provider’s stock valued at $448,476,000 after purchasing an additional 1,924,864 shares during the period. Vanguard Group Inc. increased its stake in ONEOK by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 76,510,971 shares of the utilities provider’s stock valued at $6,245,591,000 after purchasing an additional 1,314,002 shares in the last quarter. Finally, Man Group plc raised its holdings in ONEOK by 292.1% during the second quarter. Man Group plc now owns 1,558,993 shares of the utilities provider’s stock worth $127,261,000 after buying an additional 1,161,352 shares during the last quarter. Institutional investors own 69.13% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on OKE. Stifel Nicolaus set a $94.00 price objective on shares of ONEOK in a report on Thursday, October 30th. Barclays dropped their price target on shares of ONEOK from $78.00 to $76.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 15th. Weiss Ratings reissued a “hold (c)” rating on shares of ONEOK in a report on Monday, December 29th. Jefferies Financial Group initiated coverage on ONEOK in a research note on Tuesday. They issued a “hold” rating and a $80.00 price objective for the company. Finally, Wells Fargo & Company cut their target price on ONEOK from $90.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $88.56.

ONEOK Price Performance

ONEOK stock opened at $78.46 on Friday. ONEOK, Inc. has a 52 week low of $64.02 and a 52 week high of $107.50. The company’s 50 day moving average price is $72.97 and its two-hundred day moving average price is $73.57. The stock has a market cap of $49.37 billion, a P/E ratio of 14.42, a P/E/G ratio of 4.26 and a beta of 0.94. The company has a quick ratio of 0.75, a current ratio of 0.90 and a debt-to-equity ratio of 1.44.

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

ONEOK Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Monday, February 2nd will be given a dividend of $1.07 per share. The ex-dividend date of this dividend is Monday, February 2nd. This represents a $4.28 annualized dividend and a dividend yield of 5.5%. This is a boost from ONEOK’s previous quarterly dividend of $1.03. ONEOK’s payout ratio is 75.74%.

Insider Activity at ONEOK

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

About ONEOK

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.