Blair William & Co. IL Boosts Stake in ONEOK, Inc. $OKE

Key Points

• Blair William & Co. IL increased its stake in ONEOK, Inc. by 4.6%, owning 152,024 shares valued at approximately $12.41 million.
• Wall Street analysts have mixed ratings on ONEOK, with a consensus of "Moderate Buy" and an average price target of $98.69.
• ONEOK recently declared a quarterly dividend of $1.03, resulting in an annualized dividend yield of 6.0% with a payout ratio of 80.31%.

Blair William & Co. IL raised its position in ONEOK, Inc. (NYSE:OKE - Free Report) by 4.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 152,024 shares of the utilities provider's stock after purchasing an additional 6,636 shares during the quarter. Blair William & Co. IL's holdings in ONEOK were worth $12,410,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in OKE. Presima Securities ULC grew its stake in ONEOK by 1.4% in the 1st quarter. Presima Securities ULC now owns 9,477 shares of the utilities provider's stock worth $940,000 after acquiring an additional 127 shares in the last quarter. Morey & Quinn Wealth Partners LLC grew its stake in ONEOK by 0.8% in the 1st quarter. Morey & Quinn Wealth Partners LLC now owns 15,722 shares of the utilities provider's stock worth $1,560,000 after acquiring an additional 130 shares in the last quarter. Clearstead Trust LLC grew its stake in ONEOK by 5.0% in the 1st quarter. Clearstead Trust LLC now owns 2,792 shares of the utilities provider's stock worth $277,000 after acquiring an additional 133 shares in the last quarter. BankPlus Wealth Management LLC grew its stake in ONEOK by 2.8% in the 1st quarter. BankPlus Wealth Management LLC now owns 4,884 shares of the utilities provider's stock worth $485,000 after acquiring an additional 134 shares in the last quarter. Finally, Capital Investment Advisory Services LLC grew its stake in ONEOK by 4.5% in the 1st quarter. Capital Investment Advisory Services LLC now owns 3,132 shares of the utilities provider's stock worth $311,000 after acquiring an additional 134 shares in the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on OKE shares. Mizuho dropped their price objective on shares of ONEOK from $87.00 to $82.00 and set a "neutral" rating on the stock in a research note on Friday, August 29th. Morgan Stanley dropped their price objective on shares of ONEOK from $122.00 to $110.00 and set an "overweight" rating on the stock in a research note on Tuesday, August 26th. Scotiabank set a $92.00 price objective on shares of ONEOK and gave the company a "sector outperform" rating in a research note on Tuesday, July 15th. The Goldman Sachs Group initiated coverage on shares of ONEOK in a research note on Tuesday, September 30th. They set a "neutral" rating and a $75.00 price objective on the stock. Finally, TD Cowen initiated coverage on shares of ONEOK in a research note on Monday, July 7th. They issued a "hold" rating and a $91.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $98.69.

ONEOK Price Performance

Shares of OKE opened at $69.22 on Friday. The company has a 50 day moving average of $73.67 and a two-hundred day moving average of $80.09. The company has a market cap of $43.59 billion, a price-to-earnings ratio of 13.49, a price-to-earnings-growth ratio of 1.75 and a beta of 1.01. ONEOK, Inc. has a twelve month low of $69.08 and a twelve month high of $118.07. The company has a quick ratio of 0.46, a current ratio of 0.59 and a debt-to-equity ratio of 1.35.

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 (EPS) for the quarter, topping analysts' consensus estimates of $1.33 by $0.01. The business had revenue of $8.21 billion during the quarter, compared to analysts' expectations 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 company 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 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Shareholders 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 dividend yield of 6.0%. ONEOK's dividend payout ratio (DPR) is currently 80.31%.

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.

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