94,973 Shares in ONEOK, Inc. $OKE Purchased by Trajan Wealth LLC

Key Points

• Trajan Wealth LLC purchased 94,973 ONEOK shares in the second quarter, valued at approximately $8.26 million. Institutional investors and hedge funds collectively own 69.13% of the company.
• ONEOK exceeded quarterly expectations, reporting $1.53 in earnings per share versus the $1.46 consensus and $12.05 billion in revenue against an $8.95 billion estimate.
• The company pays a quarterly dividend of $1.07, equivalent to an annualized $4.28 payout and a 4.6% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $91.94.

Trajan Wealth LLC bought a new stake in shares of ONEOK, Inc. (NYSE:OKE - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 94,973 shares of the utilities provider's stock, valued at approximately $8,257,000.

Several other institutional investors also recently bought and sold shares of the company. Capital International Investors acquired a new stake in shares of ONEOK during the fourth quarter worth about $586,500,000. Norges Bank acquired a new position in shares of ONEOK in the fourth quarter valued at approximately $564,867,000. BlackRock Inc. grew its holdings in shares of ONEOK by 8.7% in the second quarter. BlackRock Inc. now owns 64,537,467 shares of the utilities provider's stock valued at $5,610,887,000 after purchasing an additional 5,148,768 shares in the last quarter. Kayne Anderson Capital Advisors LP purchased a new stake in ONEOK during the 2nd quarter worth approximately $335,958,000. Finally, First Eagle Investment Management LLC increased its stake in ONEOK by 46.3% during the 4th quarter. First Eagle Investment Management LLC now owns 11,365,304 shares of the utilities provider's stock worth $835,350,000 after buying an additional 3,596,089 shares during the period. 69.13% of the stock is owned by institutional investors and hedge funds.

ONEOK Stock Performance

Shares of OKE stock opened at $93.06 on Tuesday. The company has a market cap of $58.66 billion, a P/E ratio of 16.05, a PEG ratio of 2.60 and a beta of 0.73. The firm has a fifty day moving average price of $90.20 and a 200 day moving average price of $88.40. The company has a current ratio of 0.74, a quick ratio of 0.59 and a debt-to-equity ratio of 1.34. ONEOK, Inc. has a 12 month low of $64.02 and a 12 month high of $97.90.

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

ONEOK Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Monday, August 3rd were issued a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date of this dividend was Monday, August 3rd. ONEOK's dividend payout ratio is 73.79%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on OKE. Weiss Ratings reissued a "buy (b-)" rating on shares of ONEOK in a research report on Thursday, August 13th. Truist Financial upped their price objective on ONEOK from $91.00 to $93.00 and gave the stock a "hold" rating in a research report on Monday, May 4th. Freedom Capital upgraded ONEOK from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 5th. US Capital Advisors cut ONEOK from a "strong-buy" rating to a "moderate buy" rating in a research note on Thursday, August 20th. Finally, Raymond James Financial restated an "outperform" rating and set a $92.00 price target on shares of ONEOK in a report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $91.94.

ONEOK Profile

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.

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