Balefire LLC Buys New Holdings in ONEOK, Inc. $OKE

Key Points

• Balefire LLC has purchased 11,914 shares of ONEOK, Inc. valued at approximately $973,000, marking an increase in interest from institutional investors.
• Analysts have set a consensus target price of $100.60 for ONEOK, with most ratings falling between "Hold" and "Outperform."
• ONEOK has declared a quarterly dividend of $1.03, yielding 5.7%, with a payout ratio of 80.31%.

Balefire LLC purchased a new stake in shares of ONEOK, Inc. (NYSE:OKE - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 11,914 shares of the utilities provider's stock, valued at approximately $973,000.

Other hedge funds have also added to or reduced their stakes in the company. First Pacific Financial bought a new stake in ONEOK in the first quarter worth about $34,000. Vermillion Wealth Management Inc. purchased a new position in shares of ONEOK in the fourth quarter worth about $37,000. Financial Network Wealth Advisors LLC increased its stake in shares of ONEOK by 2,466.7% in the first quarter. Financial Network Wealth Advisors LLC now owns 385 shares of the utilities provider's stock worth $38,000 after purchasing an additional 370 shares in the last quarter. MorganRosel Wealth Management LLC purchased a new position in shares of ONEOK in the first quarter worth about $39,000. Finally, Financial Gravity Asset Management Inc. purchased a new position in shares of ONEOK in the first quarter worth about $40,000. Institutional investors own 69.13% of the company's stock.

ONEOK Trading Down 2.7%

Shares of NYSE:OKE traded down $1.95 on Friday, hitting $71.63. 8,655,817 shares of the company's stock were exchanged, compared to its average volume of 3,140,396. ONEOK, Inc. has a 12 month low of $70.63 and a 12 month high of $118.07. The stock has a market capitalization of $45.11 billion, a price-to-earnings ratio of 13.96, a price-to-earnings-growth ratio of 1.81 and a beta of 1.04. The business's 50 day simple moving average is $76.34 and its two-hundred day simple moving average is $82.52. 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 - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The utilities provider reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.01. The firm had revenue of $8.21 billion during the quarter, compared to the consensus estimate 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 previous year, the company posted $1.33 earnings per share. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. Analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Friday, August 1st were issued a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 5.8%. The ex-dividend date was Friday, August 1st. ONEOK's payout ratio is presently 80.31%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on OKE. JPMorgan Chase & Co. lifted their target price on shares of ONEOK from $94.00 to $97.00 and gave the stock an "overweight" rating in a research note on Thursday, July 3rd. Barclays set a $83.00 price objective on shares of ONEOK in a research note on Thursday, August 14th. Royal Bank Of Canada reduced their price objective on shares of ONEOK from $94.00 to $88.00 and set a "sector perform" rating for the company in a research note on Wednesday, August 13th. Morgan Stanley cut their price target on shares of ONEOK from $122.00 to $110.00 and set an "overweight" rating for the company in a research note on Tuesday, August 26th. Finally, Raymond James Financial restated an "outperform" rating on shares of ONEOK in a report on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat.com, ONEOK has a consensus 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.