ONEOK Inc. ($OKE) Stock Forecast: Down 0.6% Today

What is ONEOK Inc.?

ONEOK (OKE) is a utilities provider company that recently experienced a bearish movement in the stock market.

Why is ONEOK Inc. going down?

OKE stock is down 0.6% on Nov 16, 2023 14:20

• ONEOK announced a reduced dividend payout, which may have disappointed investors and led to a bearish market movement.
• Coastal Investment Advisors Inc. increased its holdings in ONEOK, indicating positive sentiment towards the stock. However, this did not prevent the bearish movement.
• Jones Financial Companies Lllp sold a significant number of shares in ONEOK, suggesting a lack of confidence in the stock.
• Despite beating earnings estimates and completing an acquisition, ONEOK's stock still experienced a decline, possibly due to overall market conditions or other factors not mentioned in the provided articles.

OKE Price Chart

OKE News

ONEOK: Bolstering Investor Value with Reduced Dividends and Amplified Earnings

At the end of today, November 14, 2023, ONEOK (NYSE: OKE ) will distribute a dividend payout of $0.95 per share, translating to an annualized dividend yield of 5.50%. Shareholders who held the stock before the ex-dividend date on October 31, 2023 will benefit from this payout. ONEOK Recent Dividend Payouts table { width: 100%; border-collapse: collapse; font-family: Arial, sans-serif; font-size: 14px; } th, td { padding: 8px; text-align: left; } th { background-color: #293a5a; color: #fff; text-align: left; } tr:nth-child(even) { background-color: #f2f4f8; … Full story available on Benzinga.com

https://www.benzinga.com/news/dividends/23/11/35778758/oneok-bolstering-investor-value-with-reduced-dividends-and-amplified-earnings

Coastal Investment Advisors Inc. Boosts Holdings in ONEOK, Inc. (NYSE:OKE)

Coastal Investment Advisors Inc. boosted its position in shares of ONEOK, Inc. (NYSE:OKE – Free Report) by 24.1% in the second quarter, HoldingsChannel reports. The fund owned 4,990 shares of the utilities provider’s stock after purchasing an additional 970 shares during the quarter. Coastal Investment Advisors Inc.’s holdings in ONEOK were worth $308,000 as of […]

https://reporter.am/2023/11/14/coastal-investment-advisors-inc-boosts-holdings-in-oneok-inc-nyseoke.html

Jones Financial Companies Lllp Sells 2,031 Shares of ONEOK, Inc. (NYSE:OKE)

Jones Financial Companies Lllp lessened its stake … shares during the period. Jones Financial Companies Lllp’s holdings in …

https://www.etfdailynews.com/2023/11/13/jones-financial-companies-lllp-sells-2031-shares-of-oneok-inc-nyseoke/

Jones Financial Companies Lllp Lowers Stock Holdings in ONEOK, Inc. (NYSE:OKE)

Jones Financial Companies Lllp lowered its holdings in ONEOK, Inc. (NYSE:OKE – Free Report) by 32.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,303 shares of the utilities provider’s stock after selling 2,031 shares during the period. Jones […]

https://reporter.am/2023/11/13/jones-financial-companies-lllp-lowers-stock-holdings-in-oneok-inc-nyseoke.html

ONEOK ( OKE ) Q3 Earnings Beat Estimates, Stock Down 2.4%

ONEOK's (OKE) third-quarter 2023 earnings increase year over year, while revenues decline. OKE completed the acquisition of Magellan Midstream Partners during the quarter.

https://www.zacks.com/stock/news/2181831/oneok-oke-q3-earnings-beat-estimates-stock-down-24

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ONEOK Inc. Price History

15.04.2023 - OKE Stock was down 5.8%

• ONEOK Inc. (OKE) agreed to acquire all outstanding units of Magellan Midstream Partners L.P. (MMP) in a cash-and-stock transaction valued at about $18.8 billion. The acquisition might have been seen as a negative move by investors, leading to the bearish movement.
• The acquisition will create a Tulsa, Oklahoma-based midstream giant with a combined 25,000 miles of liquids-oriented pipelines. The investors might have been concerned about the integration of the two companies and the potential risks involved.
• Cash-rich oil and gas companies are seeking acquisitions after a lengthy dry spell, which might have caused investors to be cautious about the deal and the future prospects of the company.
• The deal will combine ONEOK and Magellan, forming the second-largest U.S.-based pipeline company by stock-market value. However, the investors might have been concerned about the competition in the market and the impact on the company's profitability.