Advisors Management Group Inc. ADV Acquires 63,466 Shares of ONEOK, Inc. $OKE

Key Points

• Advisors Management Group Inc. ADV acquired an additional 63,466 shares of ONEOK, increasing its stake by 732.8% in the second quarter, making it 25th largest position in its portfolio.
• ONEOK recently reported $1.34 EPS for the last quarter, exceeding analysts' estimates, along with a revenue of $8.21 billion, above the consensus of $7.20 billion.
• The company declared a quarterly dividend of $1.03 per share, representing an annual yield of 5.6% with a payout ratio of 80.31%.

Advisors Management Group Inc. ADV increased its holdings in ONEOK, Inc. (NYSE:OKE - Free Report) by 732.8% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 72,127 shares of the utilities provider's stock after buying an additional 63,466 shares during the quarter. ONEOK comprises approximately 1.1% of Advisors Management Group Inc. ADV's portfolio, making the stock its 25th biggest position. Advisors Management Group Inc. ADV's holdings in ONEOK were worth $5,888,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of OKE. First Pacific Financial bought a new stake in ONEOK in the 1st quarter worth about $34,000. Financial Network Wealth Advisors LLC boosted its position 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 worth $38,000 after purchasing an additional 370 shares during the last quarter. MorganRosel Wealth Management LLC purchased a new position in ONEOK in the first quarter worth about $39,000. Financial Gravity Asset Management Inc. purchased a new position in ONEOK in the first quarter worth about $40,000. Finally, Rakuten Securities Inc. boosted its position in ONEOK by 152.1% in the first quarter. Rakuten Securities Inc. now owns 421 shares of the utilities provider's stock worth $42,000 after purchasing an additional 254 shares during the last quarter. 69.13% of the stock is currently owned by institutional investors.

ONEOK Trading Up 0.6%

Shares of NYSE:OKE opened at $73.86 on Friday. The stock has a 50 day moving average of $75.53 and a 200 day moving average of $81.89. The company has a market cap of $46.51 billion, a PE ratio of 14.40, a price-to-earnings-growth ratio of 1.80 and a beta of 1.04. The company has a current ratio of 0.59, a quick ratio of 0.46 and a debt-to-equity ratio of 1.35. ONEOK, Inc. has a 12-month low of $70.63 and a 12-month high of $118.07.

ONEOK (NYSE:OKE - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The utilities provider reported $1.34 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.33 by $0.01. The company had revenue of $8.21 billion during the quarter, compared to the consensus estimate 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 previous year, the company posted $1.33 EPS. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. As a group, equities research analysts expect that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Dividend Announcement

The firm 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. The ex-dividend date of this dividend was Friday, August 1st. This represents a $4.12 dividend on an annualized basis and a yield of 5.6%. ONEOK's payout ratio is currently 80.31%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on OKE. Barclays set a $83.00 target price on ONEOK in a research report on Thursday, August 14th. Scotiabank set a $92.00 target price on ONEOK and gave the stock a "sector outperform" rating in a research report on Tuesday, July 15th. Raymond James Financial reissued an "outperform" rating on shares of ONEOK in a research report on Friday, August 1st. Mizuho dropped their target price on ONEOK from $87.00 to $82.00 and set a "neutral" rating on the stock in a research report on Friday, August 29th. Finally, Royal Bank Of Canada dropped their target price on ONEOK from $94.00 to $88.00 and set a "sector perform" rating on the stock in a research 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 assigned a Hold rating to the stock. According to data from MarketBeat, ONEOK currently has an average rating of "Moderate Buy" and a consensus target price of $100.60.

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.

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