FCG Investment Co Takes Position in ONEOK, Inc. $OKE

Key Points

• FCG Investment Co acquired 12,940 shares of ONEOK, Inc. (NYSE:OKE), valued at approximately $1.28 million, during the first quarter.
• ONEOK reported earnings of $1.34 per share, beating analysts' estimates, with quarterly revenue of $8.21 billion.
• The company declared a dividend of $1.03 per share, with an annualized yield of 5.6% and a payout ratio of 80.31%.

FCG Investment Co bought a new position in shares of ONEOK, Inc. (NYSE:OKE - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 12,940 shares of the utilities provider's stock, valued at approximately $1,284,000.

Several other institutional investors have also modified their holdings of OKE. Greenline Partners LLC purchased a new stake in ONEOK in the 4th quarter valued at about $32,000. First Pacific Financial acquired a new position in shares of ONEOK during the first quarter worth about $34,000. Vermillion Wealth Management Inc. acquired a new position in shares of ONEOK during the fourth quarter worth about $37,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in shares of ONEOK during the fourth quarter worth about $39,000. Finally, Financial Network Wealth Advisors LLC boosted its holdings in ONEOK by 2,466.7% in the first quarter. Financial Network Wealth Advisors LLC now owns 385 shares of the utilities provider's stock valued at $38,000 after purchasing an additional 370 shares in the last quarter. Hedge funds and other institutional investors own 69.13% of the company's stock.

ONEOK Stock Up 0.5%

Shares of NYSE:OKE traded up $0.3690 during mid-day trading on Tuesday, hitting $73.4090. 2,382,585 shares of the company traded hands, compared to its average volume of 3,656,463. The firm has a market cap of $46.23 billion, a P/E ratio of 14.31, a PEG ratio of 1.73 and a beta of 0.99. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.46 and a current ratio of 0.59. ONEOK, Inc. has a 52-week low of $72.18 and a 52-week high of $118.07. The firm's 50 day simple moving average is $79.88 and its 200 day simple moving average is $86.20.

ONEOK (NYSE:OKE - Get Free Report) last announced its earnings results on Monday, August 4th. The utilities provider reported $1.34 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $7.20 billion. During the same period last year, the business posted $1.33 EPS. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. On average, equities analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Friday, August 1st were issued a dividend of $1.03 per share. The ex-dividend date was Friday, August 1st. This represents a $4.12 annualized dividend and a yield of 5.6%. ONEOK's payout ratio is currently 80.31%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on OKE. Citigroup lowered their price target on ONEOK from $110.00 to $102.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. Barclays set a $83.00 price target on ONEOK in a research note on Thursday, August 14th. JPMorgan Chase & Co. increased their price objective on ONEOK from $94.00 to $97.00 and gave the stock an "overweight" rating in a research report on Thursday, July 3rd. TD Cowen assumed 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. Finally, Royal Bank Of Canada dropped their price target on ONEOK from $94.00 to $88.00 and set a "sector perform" rating for the company in a research report on Wednesday, August 13th. One equities research 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 stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $103.57.

About ONEOK

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.