Capital Investment Advisors LLC Boosts Stock Holdings in ONEOK, Inc. $OKE

Key Points

• Capital Investment Advisors LLC increased its investment in ONEOK, Inc. by 2.2%, owning 296,337 shares, valued at approximately $24.19 million.
• ONEOK reported earnings of $1.34 per share, exceeding analysts' estimates, and generated revenues of $8.21 billion for the last quarter.
• The company declared a quarterly dividend of $1.03 per share, which represents an annualized dividend yield of 5.6%.

Capital Investment Advisors LLC lifted its stake in ONEOK, Inc. (NYSE:OKE - Free Report) by 2.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 296,337 shares of the utilities provider's stock after buying an additional 6,340 shares during the period. Capital Investment Advisors LLC's holdings in ONEOK were worth $24,190,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. First Pacific Financial purchased a new position in ONEOK in the 1st quarter worth approximately $34,000. Financial Network Wealth Advisors LLC grew its holdings in shares of 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 shares of ONEOK in the first quarter worth $39,000. Financial Gravity Asset Management Inc. bought a new stake in ONEOK during the 1st quarter valued at $40,000. Finally, Rakuten Securities Inc. boosted its position in ONEOK by 152.1% during the 1st quarter. Rakuten Securities Inc. now owns 421 shares of the utilities provider's stock valued at $42,000 after buying an additional 254 shares during the period. Institutional investors own 69.13% of the company's stock.

ONEOK Price Performance

OKE opened at $73.01 on Tuesday. The company has a current ratio of 0.59, a quick ratio of 0.46 and a debt-to-equity ratio of 1.35. The company has a market cap of $45.98 billion, a price-to-earnings ratio of 14.23, a price-to-earnings-growth ratio of 1.81 and a beta of 1.04. The stock has a fifty day simple moving average of $75.38 and a two-hundred day simple moving average of $81.57. 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 released its earnings results on Monday, August 4th. The utilities provider reported $1.34 earnings per share for the quarter, topping analysts' consensus estimates of $1.33 by $0.01. The firm had revenue of $8.21 billion for the quarter, compared to the consensus estimate of $7.20 billion. ONEOK had a net margin of 11.06% and a return on equity of 14.90%. During the same period in the prior year, the firm earned $1.33 EPS. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. Research analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal 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 paid a dividend of $1.03 per share. 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 5.6%. ONEOK's dividend payout ratio (DPR) is currently 80.31%.

Analyst Ratings Changes

OKE has been the subject of a number of analyst reports. Raymond James Financial reiterated an "outperform" rating on shares of ONEOK in a report on Friday, August 1st. Mizuho dropped their price objective on ONEOK from $87.00 to $82.00 and set a "neutral" rating for the company in a report on Friday, August 29th. TD Cowen started coverage on ONEOK in a research note on Monday, July 7th. They set a "hold" rating and a $91.00 target price on the stock. Morgan Stanley decreased their target price on ONEOK from $122.00 to $110.00 and set an "overweight" rating for the company in a report on Tuesday, August 26th. Finally, Scotiabank set a $92.00 price target on shares of ONEOK and gave the company a "sector outperform" rating in a report on Tuesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $100.60.

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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