Mutual Advisors LLC Grows Stock Position in ONEOK, Inc. $OKE

Mutual Advisors LLC boosted its stake in shares of ONEOK, Inc. (NYSE:OKE) by 6.9% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 11,067 shares of the utilities provider’s stock after buying an additional 715 shares during the quarter. Mutual Advisors LLC’s holdings in ONEOK were worth $902,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Disciplined Equity Management Inc. raised its holdings in ONEOK by 20.5% during the 2nd quarter. Disciplined Equity Management Inc. now owns 14,475 shares of the utilities provider’s stock valued at $1,182,000 after buying an additional 2,460 shares during the period. Mitchell Mcleod Pugh & Williams Inc. grew its position in ONEOK by 5.6% in the 2nd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 9,042 shares of the utilities provider’s stock valued at $738,000 after acquiring an additional 480 shares during the last quarter. TD Asset Management Inc grew its position in ONEOK by 7.5% in the 2nd quarter. TD Asset Management Inc now owns 263,780 shares of the utilities provider’s stock valued at $21,532,000 after acquiring an additional 18,511 shares during the last quarter. Wilmington Savings Fund Society FSB grew its position in ONEOK by 16.2% in the 2nd quarter. Wilmington Savings Fund Society FSB now owns 16,444 shares of the utilities provider’s stock valued at $1,342,000 after acquiring an additional 2,289 shares during the last quarter. Finally, Morningstar Investment Management LLC grew its position in ONEOK by 18.2% in the 2nd quarter. Morningstar Investment Management LLC now owns 27,375 shares of the utilities provider’s stock valued at $2,235,000 after acquiring an additional 4,206 shares during the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the company. Morgan Stanley cut their price objective on ONEOK from $122.00 to $110.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 26th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of ONEOK in a research report on Wednesday, October 8th. Raymond James Financial reaffirmed an “outperform” rating on shares of ONEOK in a research report on Friday, August 1st. JPMorgan Chase & Co. upped their price objective on ONEOK from $94.00 to $97.00 and gave the company an “overweight” rating in a research report on Thursday, July 3rd. Finally, Mizuho cut their price objective on ONEOK from $87.00 to $82.00 and set a “neutral” rating on the stock in a research report on Friday, August 29th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $98.27.

ONEOK Price Performance

OKE opened at $68.08 on Friday. ONEOK, Inc. has a 12-month low of $66.56 and a 12-month high of $118.07. The company has a current ratio of 0.59, a quick ratio of 0.46 and a debt-to-equity ratio of 1.35. The business’s fifty day simple moving average is $72.92 and its 200-day simple moving average is $78.88. The company has a market capitalization of $42.88 billion, a price-to-earnings ratio of 13.27, a PEG ratio of 1.67 and a beta of 1.01.

ONEOK (NYSE:OKE) last posted its quarterly 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. ONEOK had a return on equity of 14.90% and a net margin of 11.06%.The business had revenue of $8.21 billion for the quarter, compared to the consensus estimate of $7.20 billion. 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. On average, equities research analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Monday, November 3rd will be given a dividend of $1.03 per share. The ex-dividend date of this dividend is Monday, November 3rd. This represents a $4.12 dividend on an annualized basis and a yield of 6.1%. ONEOK’s dividend payout ratio (DPR) is presently 80.31%.

ONEOK Profile

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.