Forum Financial Management LP Raises Holdings in ONEOK, Inc. $OKE

Forum Financial Management LP increased its position in shares of ONEOK, Inc. (NYSE:OKE) by 13.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,503 shares of the utilities provider’s stock after purchasing an additional 1,351 shares during the quarter. Forum Financial Management LP’s holdings in ONEOK were worth $939,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. First Pacific Financial purchased a new stake in shares of ONEOK during the first quarter worth approximately $34,000. Financial Network Wealth Advisors LLC increased its position 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 worth $38,000 after purchasing an additional 370 shares in the last quarter. MorganRosel Wealth Management LLC purchased a new stake in shares of ONEOK during the first quarter worth approximately $39,000. Financial Gravity Asset Management Inc. purchased a new stake in shares of ONEOK during the first quarter worth approximately $40,000. Finally, Cheviot Value Management LLC purchased a new stake in shares of ONEOK during the first quarter worth approximately $46,000. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on OKE shares. The Goldman Sachs Group started coverage on ONEOK in a research report on Tuesday, September 30th. They set a “neutral” rating and a $75.00 price target for the company. Royal Bank Of Canada lowered their price objective on ONEOK from $94.00 to $88.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 13th. Morgan Stanley lowered their price objective on ONEOK from $122.00 to $110.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 26th. Scotiabank set a $92.00 price objective on ONEOK and gave the stock a “sector outperform” rating in a research note on Tuesday, July 15th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of ONEOK in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $98.27.

ONEOK Stock Performance

Shares of ONEOK stock opened at $69.84 on Friday. ONEOK, Inc. has a 52 week low of $66.56 and a 52 week high of $118.07. The business’s fifty day simple moving average is $72.50 and its 200-day simple moving average is $78.49. The firm has a market cap of $43.98 billion, a PE ratio of 13.61, a price-to-earnings-growth ratio of 2.72 and a beta of 1.01. 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 (NYSE:OKE) last announced its quarterly earnings results on Monday, August 4th. The utilities provider reported $1.34 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $7.20 billion. During the same quarter in the prior year, the company posted $1.33 EPS. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. Equities analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Monday, November 3rd will be paid a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 5.9%. The ex-dividend date of this dividend is Monday, November 3rd. 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.