17,530 Shares in ONEOK, Inc. $OKE Purchased by Oakmont Investment Advisors Inc.

Key Points

• Oakmont Investment Advisors acquired 17,530 ONEOK shares worth approximately $1.52 million, making the position 1.1% of its portfolio. Institutional investors and hedge funds collectively own 69.13% of ONEOK.
• Analysts maintain a generally cautious outlook, with ONEOK receiving an average “Hold” rating and a consensus price target of $95.50. Recent target changes ranged from $88 to $105.
• ONEOK beat quarterly earnings expectations with $1.53 EPS versus a $1.46 estimate and reported $12.05 billion in revenue. The company also pays a quarterly dividend of $1.07 per share, representing a 4.5% annualized yield.

Oakmont Investment Advisors Inc. acquired a new stake in ONEOK, Inc. (NYSE:OKE - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 17,530 shares of the utilities provider's stock, valued at approximately $1,524,000. ONEOK accounts for approximately 1.1% of Oakmont Investment Advisors Inc.'s holdings, making the stock its 27th largest holding.

A number of other hedge funds also recently made changes to their positions in the business. Zions Bancorporation National Association UT grew its position in shares of ONEOK by 73.3% in the fourth quarter. Zions Bancorporation National Association UT now owns 338 shares of the utilities provider's stock valued at $25,000 after purchasing an additional 143 shares during the last quarter. Pin Oak Investment Advisors Inc. acquired a new stake in ONEOK during the 2nd quarter worth approximately $28,000. Elyxium Wealth LLC bought a new stake in ONEOK in the 4th quarter valued at $29,000. Cornerstone Financial Management LLC bought a new stake in ONEOK in the 4th quarter valued at $29,000. Finally, Transamerica Financial Advisors LLC grew its holdings in ONEOK by 69.6% in the 2nd quarter. Transamerica Financial Advisors LLC now owns 363 shares of the utilities provider's stock valued at $32,000 after buying an additional 149 shares in the last quarter. 69.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

OKE has been the topic of several recent research reports. Barclays dropped their target price on ONEOK from $90.00 to $88.00 and set an "equal weight" rating for the company in a report on Wednesday, July 8th. Morgan Stanley upped their price target on shares of ONEOK from $103.00 to $105.00 and gave the company an "equal weight" rating in a research note on Tuesday, August 18th. Scotiabank raised their price target on shares of ONEOK from $89.00 to $95.00 and gave the stock a "sector perform" rating in a research report on Tuesday. Jefferies Financial Group lifted their price objective on shares of ONEOK from $95.00 to $105.00 and gave the stock a "hold" rating in a research note on Wednesday. Finally, Weiss Ratings raised shares of ONEOK from a "buy (b-)" rating to a "buy (b)" rating in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $95.50.

ONEOK Price Performance

Shares of NYSE OKE opened at $95.25 on Friday. The business has a fifty day moving average price of $91.67 and a two-hundred day moving average price of $89.11. The stock has a market capitalization of $60.04 billion, a PE ratio of 16.42, a P/E/G ratio of 2.67 and a beta of 0.74. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.74 and a quick ratio of 0.59. ONEOK, Inc. has a fifty-two week low of $64.02 and a fifty-two week high of $99.85.

ONEOK (NYSE:OKE - Get Free Report) last released its earnings results on Monday, August 3rd. The utilities provider reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.07. ONEOK had a return on equity of 16.41% and a net margin of 9.29%.The company had revenue of $12.05 billion for the quarter, compared to analyst estimates of $8.95 billion. During the same period in the prior year, the firm posted $1.34 EPS. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. As a group, equities analysts predict that ONEOK, Inc. will post 5.84 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Monday, August 3rd were paid a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date was Monday, August 3rd. ONEOK's dividend payout ratio is presently 73.79%.

About ONEOK

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source