Advisors Management Group Inc. ADV Boosts Holdings in ONEOK, Inc. $OKE

Advisors Management Group Inc. ADV grew its position in ONEOK, Inc. (NYSE:OKE) by 732.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 72,127 shares of the utilities provider’s stock after acquiring an additional 63,466 shares during the quarter. ONEOK accounts for 1.1% of Advisors Management Group Inc. ADV’s portfolio, making the stock its 25th biggest holding. Advisors Management Group Inc. ADV’s holdings in ONEOK were worth $5,888,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. First Pacific Financial bought a new stake in ONEOK in the 1st quarter worth approximately $34,000. Financial Network Wealth Advisors LLC increased its stake in ONEOK by 2,466.7% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 385 shares of the utilities provider’s stock worth $38,000 after acquiring an additional 370 shares during the last quarter. MorganRosel Wealth Management LLC bought a new stake in ONEOK in the 1st quarter worth approximately $39,000. Financial Gravity Asset Management Inc. bought a new stake in ONEOK in the 1st quarter worth approximately $40,000. Finally, Rakuten Securities Inc. increased its stake in ONEOK by 152.1% in the 1st quarter. Rakuten Securities Inc. now owns 421 shares of the utilities provider’s stock worth $42,000 after acquiring an additional 254 shares during the last quarter. Institutional investors own 69.13% of the company’s stock.

ONEOK Price Performance

OKE opened at $73.86 on Friday. ONEOK, Inc. has a 12-month low of $70.63 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 $75.53 and its 200-day simple moving average is $81.89. The company has a market capitalization of $46.51 billion, a price-to-earnings ratio of 14.40, a PEG ratio of 1.80 and a beta of 1.04.

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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Friday, August 1st were paid a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date was Friday, August 1st. ONEOK’s dividend payout ratio is 80.31%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Royal Bank Of Canada cut their target price on ONEOK from $94.00 to $88.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 13th. 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. Scotiabank set a $92.00 price objective on ONEOK and gave the company a “sector outperform” rating in a research report on Tuesday, July 15th. 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. Finally, TD Cowen initiated coverage on ONEOK in a research report on Monday, July 7th. They issued a “hold” rating and a $91.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, ONEOK currently has a consensus rating of “Moderate Buy” and a consensus price target of $100.60.

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.