10,727 Shares in ONEOK, Inc. $OKE Purchased by Floyd Financial Group LLC

Key Points

• Floyd Financial Group LLC has acquired 10,727 shares of ONEOK, Inc., representing a $881,000 investment and making it the firm's 28th largest position.
• ONEOK experienced a **quarterly earnings beat** with reported EPS of $1.34 compared to analysts' expectations of $1.33, alongside significant revenue growth to $8.21 billion.
• The company's recent **dividend announcement** reflects an annualized payment of $4.12 per share, yielding **5.6%**, with a payout ratio of 80.31%.

Floyd Financial Group LLC purchased a new position in ONEOK, Inc. (NYSE:OKE - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 10,727 shares of the utilities provider's stock, valued at approximately $881,000. ONEOK comprises approximately 0.8% of Floyd Financial Group LLC's holdings, making the stock its 28th largest position.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Brighton Jones LLC grew its holdings in ONEOK by 137.1% in the fourth quarter. Brighton Jones LLC now owns 15,278 shares of the utilities provider's stock valued at $1,534,000 after purchasing an additional 8,834 shares during the period. State of Wyoming acquired a new position in shares of ONEOK in the 4th quarter valued at $66,000. Mackenzie Financial Corp grew its stake in shares of ONEOK by 2.8% during the 4th quarter. Mackenzie Financial Corp now owns 95,599 shares of the utilities provider's stock valued at $9,598,000 after buying an additional 2,562 shares during the period. Ameriflex Group Inc. acquired a new stake in shares of ONEOK during the 4th quarter worth $83,000. Finally, Jefferies Financial Group Inc. purchased a new position in shares of ONEOK in the 4th quarter worth $1,107,000. Institutional investors and hedge funds own 69.13% of the company's stock.

Analysts Set New Price Targets

OKE has been the subject of a number of research reports. TD Cowen started coverage on ONEOK in a research report on Monday, July 7th. They set a "hold" rating and a $91.00 price target for the company. Barclays set a $83.00 price objective on ONEOK in a research note on Thursday, August 14th. Morgan Stanley cut their price target on shares of ONEOK from $122.00 to $110.00 and set an "overweight" rating on the stock in a report on Tuesday, August 26th. JPMorgan Chase & Co. lifted their price target on shares of ONEOK from $94.00 to $97.00 and gave the company an "overweight" rating in a research report on Thursday, July 3rd. Finally, Raymond James Financial reissued an "outperform" rating on shares of ONEOK in a research report on Friday, August 1st. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, ONEOK presently has a consensus rating of "Moderate Buy" and a consensus price target of $100.60.

ONEOK Trading Up 1.5%

OKE opened at $73.72 on Thursday. The firm's 50 day moving average is $75.88 and its 200-day moving average is $82.15. ONEOK, Inc. has a 52-week low of $70.63 and a 52-week high of $118.07. The company has a quick ratio of 0.46, a current ratio of 0.59 and a debt-to-equity ratio of 1.35. The firm has a market capitalization of $46.43 billion, a P/E ratio of 14.37, a P/E/G ratio of 1.78 and a beta of 1.04.

ONEOK (NYSE:OKE - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The utilities provider reported $1.34 earnings per share for the quarter, beating analysts' consensus estimates of $1.33 by $0.01. ONEOK had a net margin of 11.06% and a return on equity of 14.90%. The business had revenue of $8.21 billion during the quarter, compared to analyst estimates of $7.20 billion. During the same period last year, the business earned $1.33 EPS. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. Analysts expect that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Stockholders 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 dividend yield of 5.6%. The ex-dividend date of this dividend was Friday, August 1st. ONEOK's 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.

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