Investors Asset Management of Georgia Inc. GA ADV Has $2.24 Million Stake in ONEOK, Inc. $OKE

Investors Asset Management of Georgia Inc. GA ADV increased its stake in shares of ONEOK, Inc. (NYSE:OKE) by 4.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 27,440 shares of the utilities provider’s stock after purchasing an additional 1,080 shares during the quarter. ONEOK makes up approximately 1.0% of Investors Asset Management of Georgia Inc. GA ADV’s portfolio, making the stock its 24th largest position. Investors Asset Management of Georgia Inc. GA ADV’s holdings in ONEOK were worth $2,240,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in shares of ONEOK by 7.2% during the 1st quarter. Vanguard Group Inc. now owns 75,196,969 shares of the utilities provider’s stock valued at $7,461,043,000 after acquiring an additional 5,076,705 shares in the last quarter. Nuveen LLC purchased a new position in ONEOK in the first quarter valued at about $440,535,000. Boston Partners purchased a new position in ONEOK in the first quarter valued at about $353,596,000. Charles Schwab Investment Management Inc. increased its position in ONEOK by 13.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 20,957,230 shares of the utilities provider’s stock worth $2,079,376,000 after purchasing an additional 2,542,449 shares during the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of ONEOK by 51.9% during the 1st quarter. Wellington Management Group LLP now owns 6,388,987 shares of the utilities provider’s stock worth $633,915,000 after purchasing an additional 2,182,081 shares in the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Barclays set a $83.00 price target on ONEOK in a research note on Thursday, August 14th. Raymond James Financial reissued an “outperform” rating on shares of ONEOK in a research report on Friday, August 1st. Scotiabank set a $92.00 price target on shares of ONEOK and gave the company a “sector outperform” rating in a report on Tuesday, July 15th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of ONEOK in a research note on Saturday, September 27th. Finally, Mizuho lowered their target price on shares of ONEOK from $87.00 to $82.00 and set a “neutral” rating on the stock in a research report on Friday, August 29th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, ONEOK currently has an average rating of “Moderate Buy” and an average price target of $99.00.

ONEOK Price Performance

NYSE OKE opened at $72.88 on Monday. ONEOK, Inc. has a twelve month low of $70.63 and a twelve month 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. The stock has a market capitalization of $45.89 billion, a PE ratio of 14.21, a P/E/G ratio of 1.79 and a beta of 1.01. The stock has a 50-day simple moving average of $74.69 and a 200 day simple moving average of $80.83.

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 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 for the quarter, compared to analyst estimates of $7.20 billion. During the same period last year, the business posted $1.33 EPS. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. Research analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Friday, August 1st were paid a $1.03 dividend. The ex-dividend date of this dividend was Friday, August 1st. This represents a $4.12 dividend on an annualized basis and a yield of 5.7%. ONEOK’s payout ratio is presently 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.