RR Advisors LLC Makes New Investment in ONEOK, Inc. $OKE

Key Points

• RR Advisors LLC purchased 68,000 shares of ONEOK, Inc. for approximately $6.77 million, making the stock the 15th largest position in their portfolio.
• ONEOK reported $1.34 EPS for the last quarter, slightly exceeding analyst estimates, along with revenues of $8.21 billion, surpassing expectations of $7.20 billion.
• The company declared a quarterly dividend of $1.03 per share, translating to an annual yield of 5.5%, with a payout ratio of 80.31%.

RR Advisors LLC purchased a new position in shares of ONEOK, Inc. (NYSE:OKE - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 68,000 shares of the utilities provider's stock, valued at approximately $6,769,000. ONEOK accounts for 1.6% of RR Advisors LLC's portfolio, making the stock its 15th biggest holding.

A number of other institutional investors and hedge funds have also made changes to their positions in OKE. Marcum Wealth LLC grew its position in shares of ONEOK by 1.1% in the first quarter. Marcum Wealth LLC now owns 10,250 shares of the utilities provider's stock valued at $1,017,000 after purchasing an additional 108 shares during the last quarter. West Paces Advisors Inc. grew its position in shares of ONEOK by 4.7% in the fourth quarter. West Paces Advisors Inc. now owns 2,527 shares of the utilities provider's stock valued at $254,000 after purchasing an additional 114 shares during the last quarter. Morey & Quinn Wealth Partners LLC grew its position in shares of ONEOK by 0.8% in the first quarter. Morey & Quinn Wealth Partners LLC now owns 15,722 shares of the utilities provider's stock valued at $1,560,000 after purchasing an additional 130 shares during the last quarter. Uniplan Investment Counsel Inc. grew its position in shares of ONEOK by 0.3% in the fourth quarter. Uniplan Investment Counsel Inc. now owns 50,970 shares of the utilities provider's stock valued at $5,117,000 after purchasing an additional 132 shares during the last quarter. Finally, Visionary Wealth Advisors grew its position in shares of ONEOK by 2.1% in the fourth quarter. Visionary Wealth Advisors now owns 6,320 shares of the utilities provider's stock valued at $635,000 after purchasing an additional 132 shares during the last quarter. 69.13% of the stock is currently owned by institutional investors and hedge funds.

ONEOK Trading Up 0.5%

NYSE:OKE traded up $0.3690 during trading hours on Tuesday, reaching $73.4090. 2,381,850 shares of the company were exchanged, compared to its average volume of 3,955,019. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.59 and a quick ratio of 0.46. The firm has a market cap of $46.23 billion, a price-to-earnings ratio of 14.31, a PEG ratio of 1.75 and a beta of 0.99. ONEOK, Inc. has a 52-week low of $72.18 and a 52-week high of $118.07. The stock has a 50 day simple moving average of $80.04 and a 200 day simple moving average of $86.29.

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

ONEOK Dividend Announcement

The business also recently declared 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 yield of 5.6%. The ex-dividend date was Friday, August 1st. ONEOK's dividend payout ratio is currently 80.31%.

Analyst Ratings Changes

Several research firms have recently commented on OKE. Wells Fargo & Company lowered their price target on shares of ONEOK from $102.00 to $93.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 1st. Barclays set a $83.00 price target on shares of ONEOK in a research report on Thursday, August 14th. Stifel Nicolaus lowered their price target on shares of ONEOK from $110.00 to $107.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Royal Bank Of Canada reduced their price objective on shares of ONEOK from $94.00 to $88.00 and set a "sector perform" rating on the stock in a research note on Wednesday, August 13th. Finally, TD Cowen began coverage on shares of ONEOK in a research note on Monday, July 7th. They set a "hold" rating and a $91.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $103.57.

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.