City State Bank Purchases 595 Shares of ONEOK, Inc. $OKE

City State Bank lifted its position in ONEOK, Inc. (NYSE:OKE) by 57.2% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 1,635 shares of the utilities provider’s stock after acquiring an additional 595 shares during the quarter. City State Bank’s holdings in ONEOK were worth $133,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in OKE. Bogart Wealth LLC lifted its position in shares of ONEOK by 3.1% during the 2nd quarter. Bogart Wealth LLC now owns 4,031 shares of the utilities provider’s stock worth $329,000 after buying an additional 122 shares in the last quarter. Presima Securities ULC grew its holdings in shares of ONEOK by 1.4% in the first quarter. Presima Securities ULC now owns 9,477 shares of the utilities provider’s stock valued at $940,000 after acquiring an additional 127 shares in the last quarter. Clearstead Trust LLC grew its holdings in shares of ONEOK by 5.0% in the first quarter. Clearstead Trust LLC now owns 2,792 shares of the utilities provider’s stock valued at $277,000 after acquiring an additional 133 shares in the last quarter. BankPlus Wealth Management LLC grew its holdings in shares of ONEOK by 2.8% in the first quarter. BankPlus Wealth Management LLC now owns 4,884 shares of the utilities provider’s stock valued at $485,000 after acquiring an additional 134 shares in the last quarter. Finally, Capital Investment Advisory Services LLC grew its holdings in shares of ONEOK by 4.5% in the first quarter. Capital Investment Advisory Services LLC now owns 3,132 shares of the utilities provider’s stock valued at $311,000 after acquiring an additional 134 shares in the last quarter. Institutional investors own 69.13% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on OKE. Mizuho reduced their target price on ONEOK from $87.00 to $82.00 and set a “neutral” rating for the company in a report on Friday, August 29th. TD Cowen initiated coverage on shares of ONEOK in a research report on Monday, July 7th. They set a “hold” rating and a $91.00 price target for the company. Weiss Ratings restated a “hold (c+)” rating on shares of ONEOK in a research report on Saturday. Barclays reduced their price target 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, October 9th. Finally, JPMorgan Chase & Co. increased their price objective on ONEOK from $94.00 to $97.00 and gave the company an “overweight” rating in a report on Thursday, July 3rd. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $96.40.

ONEOK Price Performance

Shares of NYSE OKE opened at $68.60 on Friday. The stock has a fifty day simple moving average of $72.40 and a two-hundred day simple moving average of $78.42. ONEOK, Inc. has a 1-year low of $66.56 and a 1-year high of $118.07. The firm has a market cap of $43.20 billion, a price-to-earnings ratio of 13.37, a price-to-earnings-growth ratio of 2.68 and a beta of 1.01. The company has a current ratio of 0.59, a quick ratio of 0.46 and a debt-to-equity ratio of 1.35.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Monday, August 4th. The utilities provider reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.01. The business had revenue of $8.21 billion during 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 prior year, the company earned $1.33 earnings per share. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. Analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Monday, November 3rd will be given a dividend of $1.03 per share. The ex-dividend date is Monday, November 3rd. This represents a $4.12 annualized dividend and a dividend yield of 6.0%. ONEOK’s dividend payout ratio is currently 80.31%.

ONEOK Company 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.