Arete Wealth Advisors LLC Purchases 34,665 Shares of ONEOK, Inc. $OKE

Key Points

• Arete Wealth Advisors increased its ONEOK position by 173.3% in the first quarter, purchasing 34,665 additional shares for a total holding of 54,666 shares valued at approximately $4.94 million. Institutional investors collectively own 69.13% of OKE.
• ONEOK reported quarterly EPS of $1.23, below the $1.30 consensus estimate, although revenue of $9.62 billion exceeded expectations. Shares opened at $89, while analysts maintain a consensus “Hold” rating with an average price target of $92.44.
• The company reaffirmed its $1.07 quarterly dividend, equivalent to $4.28 annually and a 4.8% yield. The dividend is payable August 14 to shareholders of record as of August 3.

Arete Wealth Advisors LLC grew its position in ONEOK, Inc. (NYSE:OKE - Free Report) by 173.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 54,666 shares of the utilities provider's stock after purchasing an additional 34,665 shares during the quarter. Arete Wealth Advisors LLC's holdings in ONEOK were worth $4,936,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in ONEOK by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 77,603,334 shares of the utilities provider's stock worth $5,703,845,000 after purchasing an additional 380,744 shares in the last quarter. State Street Corp increased its holdings in shares of ONEOK by 1.7% during the fourth quarter. State Street Corp now owns 38,450,591 shares of the utilities provider's stock worth $2,826,118,000 after purchasing an additional 648,647 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of ONEOK by 2.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 22,634,512 shares of the utilities provider's stock worth $1,663,637,000 after purchasing an additional 599,248 shares during the period. Geode Capital Management LLC boosted its stake in shares of ONEOK by 3.2% in the fourth quarter. Geode Capital Management LLC now owns 16,596,172 shares of the utilities provider's stock valued at $1,215,107,000 after buying an additional 518,746 shares during the period. Finally, First Eagle Investment Management LLC grew its position in ONEOK by 46.3% during the fourth 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 in the last quarter. Institutional investors own 69.13% of the company's stock.

ONEOK Trading Down 0.5%

Shares of OKE stock opened at $89.00 on Wednesday. ONEOK, Inc. has a 1-year low of $64.02 and a 1-year high of $96.07. The company has a current ratio of 0.71, a quick ratio of 0.56 and a debt-to-equity ratio of 1.37. The stock has a market cap of $56.08 billion, a price-to-earnings ratio of 15.86, a PEG ratio of 4.84 and a beta of 0.73. The stock has a 50-day moving average of $89.27 and a 200-day moving average of $86.31.

ONEOK (NYSE:OKE - Get Free Report) last posted its quarterly earnings data on Tuesday, April 28th. The utilities provider reported $1.23 EPS for the quarter, missing analysts' consensus estimates of $1.30 by ($0.07). ONEOK had a return on equity of 16.06% and a net margin of 10.03%.The company had revenue of $9.62 billion during the quarter, compared to analyst estimates of $8.23 billion. During the same period in the prior year, the firm earned $1.04 earnings per share. On average, equities research analysts forecast that ONEOK, Inc. will post 5.65 earnings per share for the current year.

ONEOK Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Monday, August 3rd will be given a dividend of $1.07 per share. The ex-dividend date is Monday, August 3rd. This represents a $4.28 annualized dividend and a dividend yield of 4.8%. ONEOK's dividend payout ratio is 76.29%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on OKE shares. Wells Fargo & Company reduced their price objective on shares of ONEOK from $100.00 to $98.00 and set an "overweight" rating on the stock in a research note on Thursday, April 30th. Raymond James Financial reissued an "outperform" rating and set a $92.00 target price on shares of ONEOK in a research note on Thursday, April 30th. TD Cowen upped their price objective on shares of ONEOK from $85.00 to $90.00 and gave the stock a "hold" rating in a research report on Thursday, July 16th. Freedom Capital upgraded shares of ONEOK from a "strong sell" rating to a "hold" rating in a research report on Tuesday, May 5th. Finally, JPMorgan Chase & Co. lifted their price target on ONEOK from $91.00 to $92.00 and gave the company a "neutral" rating in a research note on Friday, May 8th. Eight research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company's stock. According to data from MarketBeat, ONEOK presently has an average rating of "Hold" and an average price target of $92.44.

More ONEOK News

Here are the key news stories impacting ONEOK this week:

• Positive Sentiment: ONEOK reaffirmed its quarterly dividend at $1.07 per share, maintaining an annualized payout of $4.28. The commitment supports the stock’s income appeal, particularly as midstream companies continue to generate strong free cash flow that can fund dividends and buybacks. ONEOK affirms dividend ahead of earnings Midstream and MLP free cash flow
• Positive Sentiment: Valuation coverage argues that OKE remains reasonably priced after delivering a roughly 126% total return over five years, with discounted-cash-flow and market-multiple estimates placing fair value above the recent share price. Zacks also identifies the company as attractive for momentum and long-term growth-oriented investors. ONEOK valuation analysis ONEOK momentum stock analysis
• Neutral Sentiment: Analysts expect earnings to grow, but ONEOK’s consensus analyst rating remains “Hold,” suggesting limited conviction ahead of the report. Investors will be watching results and management guidance for confirmation of the growth outlook. ONEOK consensus rating
• Negative Sentiment: Recent trading showed OKE weakening even as the broader market rose. Zacks also noted that the company lacks the two key indicators typically associated with a likely earnings beat, increasing near-term event risk. ONEOK previously reported quarterly EPS below consensus, making the upcoming earnings release especially important. ONEOK earnings expectations

ONEOK Company 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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