ONEOK, Inc. $OKE Shares Bought by 1832 Asset Management L.P.

Key Points

• 1832 Asset Management L.P. increased its holdings in ONEOK, Inc. by 28.7%, acquiring an additional 4,969 shares, bringing its total to 22,294 shares worth approximately $2.2 million.
• ONEOK recently declared a quarterly dividend of $1.03 per share, which equates to an annualized payout of $4.12 and a yield of 5.5%.
• Analysts have set a consensus price target of $103.57 for ONEOK, with the stock currently rated as a "Moderate Buy" on average.

1832 Asset Management L.P. lifted its holdings in ONEOK, Inc. (NYSE:OKE - Free Report) by 28.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,294 shares of the utilities provider's stock after buying an additional 4,969 shares during the quarter. 1832 Asset Management L.P.'s holdings in ONEOK were worth $2,212,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Greenline Partners LLC purchased a new stake in shares of ONEOK during the 4th quarter worth $32,000. First Pacific Financial acquired a new position in ONEOK during the first quarter worth about $34,000. Vermillion Wealth Management Inc. acquired a new position in ONEOK during the fourth quarter worth about $37,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in ONEOK in the fourth quarter valued at about $39,000. Finally, Financial Network Wealth Advisors LLC lifted its position in shares of ONEOK by 2,466.7% during the 1st quarter. Financial Network Wealth Advisors LLC now owns 385 shares of the utilities provider's stock valued at $38,000 after acquiring an additional 370 shares during the period. Hedge funds and other institutional investors own 69.13% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on OKE. TD Cowen began coverage on ONEOK in a report on Monday, July 7th. They issued a "hold" rating and a $91.00 price target on the stock. Barclays set a $83.00 target price on ONEOK in a research report on Thursday, August 14th. Mizuho dropped their price target on ONEOK from $87.00 to $82.00 and set a "neutral" rating for the company in a research report on Friday. Raymond James Financial reiterated an "outperform" rating on shares of ONEOK in a research report on Friday, August 1st. Finally, Royal Bank Of Canada dropped their target price on shares of ONEOK from $94.00 to $88.00 and set a "sector perform" rating for the company in a report on Wednesday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $100.60.

ONEOK Trading Up 0.7%

Shares of ONEOK stock traded up $0.51 during trading hours on Friday, reaching $76.40. 2,652,473 shares of the company's stock were exchanged, compared to its average volume of 3,920,033. ONEOK, Inc. has a 52-week low of $72.18 and a 52-week high of $118.07. The company has a fifty day moving average of $78.82 and a 200-day moving average of $85.19. The company has a current ratio of 0.59, a quick ratio of 0.46 and a debt-to-equity ratio of 1.35. The firm has a market capitalization of $48.12 billion, a price-to-earnings ratio of 14.89, a price-to-earnings-growth ratio of 1.78 and a beta of 0.99.

ONEOK (NYSE:OKE - Get Free Report) last released 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. The firm had revenue of $8.21 billion during the quarter, compared to analyst estimates 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 prior year, the firm posted $1.33 earnings per share. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. Sell-side analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Dividend Announcement

The business also recently declared 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. The ex-dividend date of this dividend was Friday, August 1st. This represents a $4.12 dividend on an annualized basis and a dividend yield of 5.4%. ONEOK's dividend payout ratio (DPR) 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.