Mutual Advisors LLC Buys 715 Shares of ONEOK, Inc. $OKE

Mutual Advisors LLC lifted its stake in shares of ONEOK, Inc. (NYSE:OKE) by 6.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,067 shares of the utilities provider’s stock after acquiring an additional 715 shares during the quarter. Mutual Advisors LLC’s holdings in ONEOK were worth $902,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. First Pacific Financial bought a new position in shares of ONEOK during the 1st quarter valued at approximately $34,000. Financial Network Wealth Advisors LLC grew its stake in shares of ONEOK by 2,466.7% during the 1st quarter. Financial Network Wealth Advisors LLC now owns 385 shares of the utilities provider’s stock valued at $38,000 after acquiring an additional 370 shares during the period. MorganRosel Wealth Management LLC bought a new position in ONEOK in the 1st quarter worth approximately $39,000. Financial Gravity Asset Management Inc. bought a new position in ONEOK in the 1st quarter worth approximately $40,000. Finally, Trust Co. of Toledo NA OH bought a new position in ONEOK in the 2nd quarter worth approximately $42,000. 69.13% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on OKE shares. Mizuho dropped their price target on ONEOK from $87.00 to $82.00 and set a “neutral” rating for the company in a research note on Friday, August 29th. JPMorgan Chase & Co. upped their price target on ONEOK from $94.00 to $97.00 and gave the stock an “overweight” rating in a research note on Thursday, July 3rd. The Goldman Sachs Group started coverage on ONEOK in a research note on Tuesday, September 30th. They issued a “neutral” rating and a $75.00 price target for the company. Weiss Ratings restated a “hold (c+)” rating on shares of ONEOK in a research note on Wednesday, October 8th. Finally, Royal Bank Of Canada dropped their price target on ONEOK from $94.00 to $88.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $98.27.

ONEOK Stock Up 1.3%

Shares of OKE opened at $68.08 on Friday. The stock has a market capitalization of $42.88 billion, a price-to-earnings ratio of 13.27, a price-to-earnings-growth ratio of 1.67 and a beta of 1.01. ONEOK, Inc. has a 1 year low of $66.56 and a 1 year high of $118.07. The business’s 50 day simple moving average is $72.92 and its 200-day simple moving average is $78.88. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.59 and a quick ratio of 0.46.

ONEOK (NYSE:OKE) last issued its quarterly earnings data 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. The business had revenue of $8.21 billion for the quarter, compared to analysts’ expectations 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 firm earned $1.33 EPS. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. As a group, equities analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Monday, November 3rd will be issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 6.1%. The ex-dividend date is Monday, November 3rd. ONEOK’s dividend payout ratio 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.