Hilltop National Bank Acquires New Position in ONEOK, Inc. $OKE

Hilltop National Bank acquired a new stake in shares of ONEOK, Inc. (NYSE:OKE) during the 2nd quarter, Holdings Channel reports. The fund acquired 12,997 shares of the utilities provider’s stock, valued at approximately $1,061,000.

Several other institutional investors and hedge funds have also modified their holdings of OKE. Brighton Jones LLC lifted its stake in shares of ONEOK by 137.1% during the fourth quarter. Brighton Jones LLC now owns 15,278 shares of the utilities provider’s stock valued at $1,534,000 after buying an additional 8,834 shares during the period. NBC Securities Inc. increased its position in ONEOK by 114,650.0% during the first quarter. NBC Securities Inc. now owns 2,295 shares of the utilities provider’s stock worth $227,000 after purchasing an additional 2,293 shares during the last quarter. Merit Financial Group LLC increased its position in ONEOK by 11.4% during the first quarter. Merit Financial Group LLC now owns 11,505 shares of the utilities provider’s stock worth $1,142,000 after purchasing an additional 1,180 shares during the last quarter. Fulton Bank N.A. acquired a new position in ONEOK during the first quarter worth approximately $316,000. Finally, Matrix Trust Co increased its position in ONEOK by 51.6% during the first quarter. Matrix Trust Co now owns 3,626 shares of the utilities provider’s stock worth $360,000 after purchasing an additional 1,234 shares during the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Analyst Ratings Changes

OKE has been the subject of several research analyst reports. Raymond James Financial reaffirmed an “outperform” rating on shares of ONEOK in a research report on Friday, August 1st. Barclays set a $83.00 price target on shares of ONEOK in a research report on Thursday, August 14th. The Goldman Sachs Group started coverage on shares of ONEOK in a research report on Tuesday. They set a “neutral” rating and a $75.00 price target for the company. Scotiabank set a $92.00 price objective on shares of ONEOK and gave the stock a “sector outperform” rating in a research report on Tuesday, July 15th. Finally, Royal Bank Of Canada dropped their price objective on shares of ONEOK from $94.00 to $88.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 13th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $99.00.

ONEOK Price Performance

ONEOK stock opened at $72.50 on Friday. The firm has a fifty day moving average of $74.86 and a 200-day moving average of $81.27. The firm has a market capitalization of $45.66 billion, a P/E ratio of 14.13, a PEG ratio of 1.79 and a beta of 1.01. ONEOK, Inc. has a 52-week low of $70.63 and a 52-week high of $118.07. 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 released its quarterly earnings results on Monday, August 4th. The utilities provider reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates 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 net margin of 11.06% and a return on equity of 14.90%. During the same period last year, the business earned $1.33 EPS. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. As a group, analysts predict that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Dividend Announcement

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