Quantum Financial Planning Services Inc. Buys New Position in ONEOK, Inc. $OKE

Quantum Financial Planning Services Inc. bought a new stake in ONEOK, Inc. (NYSE:OKE) in the 2nd quarter, Holdings Channel reports. The institutional investor bought 6,200 shares of the utilities provider’s stock, valued at approximately $506,000. ONEOK accounts for about 0.2% of Quantum Financial Planning Services Inc.’s investment portfolio, making the stock its 19th largest position.

Other institutional investors have also recently added to or reduced their stakes in the company. Dark Forest Capital Management LP raised its stake in ONEOK by 409.5% in the 1st quarter. Dark Forest Capital Management LP now owns 40,372 shares of the utilities provider’s stock valued at $4,006,000 after purchasing an additional 32,448 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund increased its stake in shares of ONEOK by 146.9% during the 1st quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 18,033 shares of the utilities provider’s stock valued at $1,789,000 after acquiring an additional 10,728 shares during the last quarter. Advisor Resource Council acquired a new position in shares of ONEOK during the 1st quarter valued at about $511,000. Andrew Hill Investment Advisors Inc. acquired a new position in shares of ONEOK during the 2nd quarter valued at about $3,671,000. Finally, Banco Santander S.A. increased its stake in shares of ONEOK by 22.2% during the 1st quarter. Banco Santander S.A. now owns 26,824 shares of the utilities provider’s stock valued at $2,661,000 after acquiring an additional 4,880 shares during the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. TD Cowen assumed coverage on shares of ONEOK in a research note on Monday, July 7th. They set a “hold” rating and a $91.00 price objective for the company. The Goldman Sachs Group assumed coverage on shares of ONEOK in a research note on Tuesday, September 30th. They set a “neutral” rating and a $75.00 price objective for the company. Raymond James Financial reaffirmed an “outperform” rating on shares of ONEOK in a research note on Friday, August 1st. Royal Bank Of Canada dropped their price objective on shares of ONEOK from $94.00 to $88.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 13th. Finally, Barclays dropped their target price on shares of ONEOK from $83.00 to $78.00 and set an “equal weight” rating for the company in a research report on Thursday. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, ONEOK currently has an average rating of “Moderate Buy” and a consensus price target of $98.69.

ONEOK Stock Down 2.9%

OKE opened at $69.22 on Friday. The firm has a 50 day moving average price of $73.67 and a 200 day moving average price of $79.94. The company has a market cap of $43.59 billion, a PE ratio of 13.49, a price-to-earnings-growth ratio of 1.70 and a beta of 1.01. ONEOK, Inc. has a 1 year low of $69.08 and a 1 year high of $118.07. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.46 and a current ratio of 0.59.

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

ONEOK Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Friday, August 1st were issued a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 6.0%. The ex-dividend date was Friday, August 1st. ONEOK’s dividend payout ratio is currently 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.