Janney Montgomery Scott LLC Has $35.92 Million Stock Holdings in ONEOK, Inc. $OKE

Janney Montgomery Scott LLC raised its holdings in ONEOK, Inc. (NYSE:OKE) by 111.0% in the 2nd quarter, HoldingsChannel reports. The fund owned 413,189 shares of the utilities provider’s stock after acquiring an additional 217,404 shares during the period. Janney Montgomery Scott LLC’s holdings in ONEOK were worth $35,923,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. North Dakota State Investment Board grew its stake in shares of ONEOK by 2.6% in the second quarter. North Dakota State Investment Board now owns 18,581 shares of the utilities provider’s stock worth $1,615,000 after purchasing an additional 478 shares during the last quarter. 71 West Capital Partners lifted its holdings in ONEOK by 33.8% during the 2nd quarter. 71 West Capital Partners now owns 5,548 shares of the utilities provider’s stock worth $482,000 after buying an additional 1,401 shares during the period. McAdam LLC lifted its holdings in ONEOK by 8.1% during the 2nd quarter. McAdam LLC now owns 3,836 shares of the utilities provider’s stock worth $334,000 after buying an additional 288 shares during the period. Transcend Capital Advisors LLC grew its position in shares of ONEOK by 66.6% in the 2nd quarter. Transcend Capital Advisors LLC now owns 15,960 shares of the utilities provider’s stock valued at $1,388,000 after buying an additional 6,381 shares during the last quarter. Finally, Garrett Wealth Advisory Group LLC raised its position in shares of ONEOK by 3.1% during the second quarter. Garrett Wealth Advisory Group LLC now owns 9,080 shares of the utilities provider’s stock worth $789,000 after acquiring an additional 272 shares during the last quarter. Institutional investors own 69.13% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on OKE. Citigroup raised their price target on shares of ONEOK from $95.00 to $97.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Truist Financial boosted their price objective on ONEOK from $91.00 to $93.00 and gave the company a “hold” rating in a research note on Monday, May 4th. Wells Fargo & Company lowered their target price on ONEOK from $100.00 to $98.00 and set an “overweight” rating for the company in a report on Thursday, April 30th. Wall Street Zen upgraded shares of ONEOK from a “sell” rating to a “hold” rating in a research note on Sunday, August 9th. Finally, Freedom Capital upgraded shares of ONEOK from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $91.81.

ONEOK Trading Up 2.5%

Shares of ONEOK stock opened at $94.99 on Friday. The stock has a fifty day simple moving average of $89.48 and a 200 day simple moving average of $87.61. ONEOK, Inc. has a 12-month low of $64.02 and a 12-month high of $96.07. The company has a market capitalization of $59.88 billion, a P/E ratio of 16.38, a price-to-earnings-growth ratio of 4.95 and a beta of 0.73. The company has a current ratio of 0.74, a quick ratio of 0.59 and a debt-to-equity ratio of 1.34.

ONEOK (NYSE:OKE) last issued its quarterly earnings data on Monday, August 3rd. The utilities provider reported $1.53 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.07. The business had revenue of $12.05 billion for the quarter, compared to analysts’ expectations of $8.95 billion. ONEOK had a return on equity of 16.41% and a net margin of 9.29%.During the same period last year, the business earned $1.34 EPS. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. On average, sell-side analysts anticipate that ONEOK, Inc. will post 5.87 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Monday, August 3rd were issued a $1.07 dividend. The ex-dividend date was Monday, August 3rd. This represents a $4.28 annualized dividend and a dividend yield of 4.5%. ONEOK’s dividend payout ratio is currently 73.79%.

ONEOK Profile

ONEOK, Inc (NYSE: OKE) is a publicly traded midstream energy company headquartered in Tulsa, Oklahoma. The company owns and operates a portfolio of natural gas and natural gas liquids (NGL) pipelines, processing facilities, fractionators and storage and terminal assets. Its operations are focused on gathering, processing, transporting, fractionating and marketing NGLs and interstate natural gas, providing critical infrastructure that connects hydrocarbon production to refineries, petrochemical plants and other end markets.

ONEOK’s asset base includes pipeline systems and processing plants that move and condition natural gas, along with infrastructure for the transportation, storage and fractionation of NGLs such as ethane, propane and butane.