City State Bank Has $133,000 Stake in ONEOK, Inc. $OKE

City State Bank boosted its stake in ONEOK, Inc. (NYSE:OKE) by 57.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,635 shares of the utilities provider’s stock after purchasing an additional 595 shares during the period. City State Bank’s holdings in ONEOK were worth $133,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in ONEOK by 7.2% in the first quarter. Vanguard Group Inc. now owns 75,196,969 shares of the utilities provider’s stock valued at $7,461,043,000 after purchasing an additional 5,076,705 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of ONEOK by 13.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 20,957,230 shares of the utilities provider’s stock worth $2,079,376,000 after acquiring an additional 2,542,449 shares in the last quarter. Invesco Ltd. raised its position in shares of ONEOK by 25.1% in the 1st quarter. Invesco Ltd. now owns 8,339,939 shares of the utilities provider’s stock worth $827,489,000 after acquiring an additional 1,674,706 shares in the last quarter. Tortoise Capital Advisors L.L.C. raised its position in shares of ONEOK by 17.1% in the 1st quarter. Tortoise Capital Advisors L.L.C. now owns 7,171,795 shares of the utilities provider’s stock worth $711,586,000 after acquiring an additional 1,047,810 shares in the last quarter. Finally, Northern Trust Corp raised its position in shares of ONEOK by 5.3% in the 1st quarter. Northern Trust Corp now owns 6,879,863 shares of the utilities provider’s stock worth $682,620,000 after acquiring an additional 344,002 shares in the last quarter. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on OKE. TD Cowen began coverage on ONEOK in a research report on Monday, July 7th. They issued a “hold” rating and a $91.00 price objective for the company. Raymond James Financial reissued an “outperform” rating and issued a $82.00 price objective (down from $100.00) on shares of ONEOK in a research report on Friday. Mizuho lowered their price objective on ONEOK from $87.00 to $82.00 and set a “neutral” rating for the company in a research report on Friday, August 29th. Weiss Ratings reissued a “hold (c+)” rating on shares of ONEOK in a research report on Saturday. Finally, The Goldman Sachs Group started coverage on ONEOK in a research report on Tuesday, September 30th. They issued a “neutral” rating and a $75.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $96.40.

ONEOK Stock Performance

Shares of ONEOK stock opened at $68.60 on Friday. ONEOK, Inc. has a one year low of $66.56 and a one year high of $118.07. The firm has a market capitalization of $43.20 billion, a price-to-earnings ratio of 13.37, a PEG ratio of 2.68 and a beta of 1.01. The business has a 50-day simple moving average of $72.40 and a 200 day simple moving average of $78.42. 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 earnings results on Monday, August 4th. The utilities provider reported $1.34 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $7.20 billion. During the same period in the previous year, the company posted $1.33 EPS. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. On average, 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 announced a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Monday, November 3rd will be issued a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 6.0%. The ex-dividend date is Monday, November 3rd. ONEOK’s dividend payout ratio (DPR) is currently 80.31%.

ONEOK 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.