Ascent Group LLC Purchases Shares of 4,477 ONEOK, Inc. $OKE

Key Points

• Ascent Group LLC purchased a new stake in ONEOK, Inc., acquiring 4,477 shares valued at approximately $444,000 during the first quarter.
• ONEOK recently reported earnings of $1.34 EPS, surpassing analysts' expectations, with revenues hitting $8.21 billion for the quarter.
• The company declared a quarterly dividend of $1.03 per share, reflecting a 5.6% dividend yield and a payout ratio of 80.31%.

Ascent Group LLC purchased a new stake in shares of ONEOK, Inc. (NYSE:OKE - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 4,477 shares of the utilities provider's stock, valued at approximately $444,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Marcum Wealth LLC raised its holdings in ONEOK by 1.1% during the first quarter. Marcum Wealth LLC now owns 10,250 shares of the utilities provider's stock valued at $1,017,000 after acquiring an additional 108 shares during the period. Presima Securities ULC grew its position in shares of ONEOK by 1.4% during the first quarter. Presima Securities ULC now owns 9,477 shares of the utilities provider's stock valued at $940,000 after purchasing an additional 127 shares in the last quarter. Morey & Quinn Wealth Partners LLC grew its position in shares of ONEOK by 0.8% during 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 in the last quarter. Visionary Wealth Advisors grew its position in shares of ONEOK by 2.1% during 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 in the last quarter. Finally, Clearstead Trust LLC grew its position in shares of ONEOK by 5.0% during the first quarter. Clearstead Trust LLC now owns 2,792 shares of the utilities provider's stock valued at $277,000 after purchasing an additional 133 shares in the last quarter. 69.13% of the stock is owned by institutional investors.

ONEOK Stock Up 1.9%

Shares of NYSE:OKE opened at $73.24 on Thursday. ONEOK, Inc. has a 1 year low of $70.63 and a 1 year high of $118.07. The business has a 50 day simple moving average of $77.52 and a two-hundred day simple moving average of $83.67. The firm has a market capitalization of $46.12 billion, a PE ratio of 14.28, a price-to-earnings-growth ratio of 1.71 and a beta of 1.04. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.59 and a quick ratio of 0.46.

ONEOK (NYSE:OKE - Get Free Report) last announced its earnings results on Monday, August 4th. The utilities provider reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.01. ONEOK had a return on equity of 14.90% and a net margin of 11.06%.The business had revenue of $8.21 billion during the quarter, compared to analyst estimates of $7.20 billion. During the same quarter in the previous year, the business earned $1.33 earnings per share. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. On average, equities analysts predict that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Friday, August 1st were given a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 5.6%. The ex-dividend date was Friday, August 1st. ONEOK's payout ratio is 80.31%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on OKE. JPMorgan Chase & Co. raised their price objective on ONEOK from $94.00 to $97.00 and gave the company an "overweight" rating in a research report on Thursday, July 3rd. Morgan Stanley cut their price objective on ONEOK from $122.00 to $110.00 and set an "overweight" rating for the company in a research report on Tuesday, August 26th. Royal Bank Of Canada dropped their price target on ONEOK from $94.00 to $88.00 and set a "sector perform" rating for the company in a research report on Wednesday, August 13th. TD Cowen initiated coverage on ONEOK in a research report on Monday, July 7th. They issued a "hold" rating and a $91.00 price target for the company. Finally, Scotiabank set a $92.00 price target on ONEOK and gave the stock a "sector outperform" rating in a research report on Tuesday, July 15th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, ONEOK has an average rating of "Moderate Buy" and a consensus price target of $100.60.

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.

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