ONEOK, Inc. $OKE Shares Acquired by MJT & Associates Financial Advisory Group Inc.

MJT & Associates Financial Advisory Group Inc. increased its position in ONEOK, Inc. (NYSE:OKE) by 5.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,540 shares of the utilities provider’s stock after buying an additional 140 shares during the period. MJT & Associates Financial Advisory Group Inc.’s holdings in ONEOK were worth $207,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. First Pacific Financial acquired a new position in shares of ONEOK in the first quarter valued at approximately $34,000. Financial Network Wealth Advisors LLC raised its position 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 buying an additional 370 shares during the last quarter. MorganRosel Wealth Management LLC acquired a new position in shares of ONEOK in the first quarter valued at approximately $39,000. Financial Gravity Asset Management Inc. acquired a new position in shares of ONEOK in the first quarter valued at approximately $40,000. Finally, Rakuten Securities Inc. raised its position in shares of ONEOK by 152.1% in the first quarter. Rakuten Securities Inc. now owns 421 shares of the utilities provider’s stock valued at $42,000 after buying an additional 254 shares during the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

Analyst Ratings Changes

OKE has been the subject of a number of recent analyst reports. Mizuho lowered their target price on shares of ONEOK from $87.00 to $82.00 and set a “neutral” rating for the company in a report on Friday, August 29th. Royal Bank Of Canada lowered their target price on shares of ONEOK from $94.00 to $88.00 and set a “sector perform” rating for the company in a report on Wednesday, August 13th. Raymond James Financial restated an “outperform” rating on shares of ONEOK in a report on Friday, August 1st. TD Cowen initiated coverage on shares of ONEOK in a report on Monday, July 7th. They issued a “hold” rating and a $91.00 target price for the company. Finally, Morgan Stanley lowered their target price on shares of ONEOK from $122.00 to $110.00 and set an “overweight” rating for the company in a report on Tuesday, August 26th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, ONEOK presently has a consensus rating of “Moderate Buy” and an average target price of $99.00.

ONEOK Price Performance

OKE opened at $72.99 on Wednesday. The company has a quick ratio of 0.46, a current ratio of 0.59 and a debt-to-equity ratio of 1.35. ONEOK, Inc. has a 52-week low of $70.63 and a 52-week high of $118.07. The company has a 50 day moving average of $75.23 and a two-hundred day moving average of $81.51. The company has a market cap of $45.97 billion, a P/E ratio of 14.23, a P/E/G ratio of 1.79 and a beta of 1.04.

ONEOK (NYSE:OKE) last released its quarterly earnings data on Monday, August 4th. The utilities provider reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.01. ONEOK had a net margin of 11.06% and a return on equity of 14.90%. The company had revenue of $8.21 billion during the quarter, compared to the consensus estimate of $7.20 billion. During the same period in the previous year, the firm earned $1.33 earnings per share. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. On average, analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Friday, August 1st were paid a $1.03 dividend. The ex-dividend date was Friday, August 1st. This represents a $4.12 annualized dividend and a dividend yield of 5.6%. ONEOK’s dividend payout ratio is 80.31%.

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.