2,816 Shares in ONEOK, Inc. $OKE Acquired by Leo Wealth LLC

Leo Wealth LLC purchased a new position in shares of ONEOK, Inc. (NYSE:OKE) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 2,816 shares of the utilities provider’s stock, valued at approximately $230,000.

Other large investors have also recently made changes to their positions in the company. First Pacific Financial purchased a new stake in ONEOK in the 1st quarter valued at $34,000. Financial Network Wealth Advisors LLC grew its holdings 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 valued at $38,000 after buying an additional 370 shares in the last quarter. MorganRosel Wealth Management LLC purchased a new stake in ONEOK in the 1st quarter valued at $39,000. Financial Gravity Asset Management Inc. purchased a new stake in ONEOK in the 1st quarter valued at $40,000. Finally, Rakuten Securities Inc. grew its holdings in ONEOK by 152.1% in the 1st quarter. Rakuten Securities Inc. now owns 421 shares of the utilities provider’s stock valued at $42,000 after buying an additional 254 shares in the last quarter. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

ONEOK Price Performance

OKE opened at $69.22 on Friday. The stock’s 50-day moving average price is $73.67 and its 200 day moving average price is $80.09. ONEOK, Inc. has a 12-month low of $69.08 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 firm has a market cap of $43.59 billion, a price-to-earnings ratio of 13.49, a PEG ratio of 1.75 and a beta of 1.01.

ONEOK (NYSE:OKE) last posted its 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 return on equity of 14.90% and a net margin of 11.06%.The firm 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 earned $1.33 EPS. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. As a group, sell-side analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Friday, August 1st were given 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 6.0%. ONEOK’s dividend payout ratio (DPR) is currently 80.31%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. TD Cowen assumed coverage on ONEOK in a report on Monday, July 7th. They issued a “hold” rating and a $91.00 target price for the company. Raymond James Financial restated an “outperform” rating on shares of ONEOK in a report on Friday, August 1st. Scotiabank set a $92.00 target price on ONEOK and gave the company a “sector outperform” rating in a report on Tuesday, July 15th. JPMorgan Chase & Co. increased their price target on ONEOK from $94.00 to $97.00 and gave the stock an “overweight” rating in a report on Thursday, July 3rd. Finally, Morgan Stanley lowered their price target on ONEOK from $122.00 to $110.00 and set an “overweight” rating for the company in a report on Tuesday, August 26th. One investment 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. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $98.69.

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.