Wealthcare Advisory Partners LLC Buys 2,181 Shares of ONEOK, Inc. $OKE

Wealthcare Advisory Partners LLC raised its stake in ONEOK, Inc. (NYSE:OKE) by 11.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,789 shares of the utilities provider’s stock after buying an additional 2,181 shares during the period. Wealthcare Advisory Partners LLC’s holdings in ONEOK were worth $1,779,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of OKE. First Pacific Financial acquired a new position in ONEOK in the 1st quarter worth about $34,000. Financial Network Wealth Advisors LLC boosted its stake in shares of ONEOK by 2,466.7% during the first quarter. Financial Network Wealth Advisors LLC now owns 385 shares of the utilities provider’s stock valued at $38,000 after purchasing an additional 370 shares in the last quarter. MorganRosel Wealth Management LLC bought a new stake in shares of ONEOK during the first quarter worth about $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 holdings in ONEOK by 152.1% in the 1st 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. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Morgan Stanley reduced their target price 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. Barclays set a $83.00 price objective on shares of ONEOK in a research note on Thursday, August 14th. Weiss Ratings restated a “hold (c+)” rating on shares of ONEOK in a report on Saturday, September 27th. JPMorgan Chase & Co. lifted their target price on ONEOK from $94.00 to $97.00 and gave the stock an “overweight” rating in a report on Thursday, July 3rd. Finally, Royal Bank Of Canada decreased their price target on ONEOK from $94.00 to $88.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat, ONEOK currently has a consensus rating of “Moderate Buy” and an average target price of $99.00.

ONEOK Stock Down 0.2%

Shares of ONEOK stock opened at $72.72 on Tuesday. The stock’s 50-day moving average is $74.50 and its 200 day moving average is $80.64. ONEOK, Inc. has a one year low of $70.63 and a one year high of $118.07. The firm has a market cap of $45.80 billion, a price-to-earnings ratio of 14.18, a PEG ratio of 1.79 and a beta of 1.01. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.59 and a quick ratio of 0.46.

ONEOK (NYSE:OKE) last issued its quarterly earnings results on Monday, August 4th. The utilities provider reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.01. The firm had revenue of $8.21 billion for the quarter, compared to analyst estimates of $7.20 billion. ONEOK had a return on equity of 14.90% and a net margin of 11.06%.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. Equities research analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Friday, August 1st were paid a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 5.7%. The ex-dividend date of this dividend was Friday, August 1st. ONEOK’s 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.