Ashton Thomas Private Wealth LLC Boosts Stake in ONEOK, Inc. $OKE

Ashton Thomas Private Wealth LLC raised its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 4.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,024 shares of the utilities provider’s stock after buying an additional 786 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in ONEOK were worth $1,788,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Marcum Wealth LLC boosted its holdings in shares of ONEOK by 1.1% in the 1st quarter. Marcum Wealth LLC now owns 10,250 shares of the utilities provider’s stock worth $1,017,000 after purchasing an additional 108 shares in the last quarter. Presima Securities ULC boosted its holdings in shares of ONEOK by 1.4% in the 1st quarter. Presima Securities ULC now owns 9,477 shares of the utilities provider’s stock worth $940,000 after purchasing an additional 127 shares in the last quarter. Morey & Quinn Wealth Partners LLC boosted its holdings in shares of ONEOK by 0.8% in the 1st quarter. Morey & Quinn Wealth Partners LLC now owns 15,722 shares of the utilities provider’s stock worth $1,560,000 after purchasing an additional 130 shares in the last quarter. Visionary Wealth Advisors boosted its holdings in shares of ONEOK by 2.1% in the 4th quarter. Visionary Wealth Advisors now owns 6,320 shares of the utilities provider’s stock worth $635,000 after purchasing an additional 132 shares in the last quarter. Finally, Clearstead Trust LLC boosted its holdings in shares of ONEOK by 5.0% in the 1st quarter. Clearstead Trust LLC now owns 2,792 shares of the utilities provider’s stock worth $277,000 after purchasing an additional 133 shares in the last quarter. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

ONEOK Trading Up 0.7%

Shares of OKE stock opened at $71.87 on Wednesday. The business has a 50-day moving average of $77.69 and a 200 day moving average of $83.74. The stock has a market capitalization of $45.26 billion, a PE ratio of 14.01, a P/E/G ratio of 1.70 and a beta of 1.04. 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, Inc. has a 1-year low of $70.63 and a 1-year high of $118.07.

ONEOK (NYSE:OKE) last released its quarterly 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. The business had revenue of $8.21 billion during the quarter, compared to analyst estimates of $7.20 billion. ONEOK had a return on equity of 14.90% and a net margin of 11.06%.During the same quarter in the prior year, the company posted $1.33 EPS. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. As a group, sell-side analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Friday, August 1st were given 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 80.31%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. JPMorgan Chase & Co. upped their price objective on ONEOK from $94.00 to $97.00 and gave the stock an “overweight” rating in a report on Thursday, July 3rd. TD Cowen assumed coverage on ONEOK in a report on Monday, July 7th. They issued a “hold” rating and a $91.00 price objective for the company. Morgan Stanley cut their price objective on ONEOK from $122.00 to $110.00 and set an “overweight” rating for the company in a report on Tuesday, August 26th. Raymond James Financial reissued an “outperform” rating on shares of ONEOK in a research note on Friday, August 1st. Finally, Scotiabank set a $92.00 target price on ONEOK and gave the company a “sector outperform” rating in a report on Tuesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, ONEOK currently has an average rating of “Moderate Buy” and an average price target of $100.60.

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.