City Center Advisors LLC Makes New $299,000 Investment in ONEOK, Inc. $OKE

Key Points

• City Center Advisors LLC has made a new investment of approximately $299,000 in ONEOK, Inc., acquiring 3,660 shares of the utilities provider's stock during the second quarter.
• ONEOK reported a quarterly earnings per share (EPS) of $1.34, exceeding analysts' expectations of $1.33, with total revenue of $8.21 billion for the quarter.
• The company recently declared a quarterly dividend of $1.03 per share, representing an annualized dividend yield of 5.6% and a payout ratio of 80.31%.

City Center Advisors LLC purchased a new position in ONEOK, Inc. (NYSE:OKE - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 3,660 shares of the utilities provider's stock, valued at approximately $299,000.

Several other institutional investors also recently modified their holdings of OKE. Brighton Jones LLC grew its holdings in shares of ONEOK by 137.1% during the 4th quarter. Brighton Jones LLC now owns 15,278 shares of the utilities provider's stock worth $1,534,000 after purchasing an additional 8,834 shares in the last quarter. NorthRock Partners LLC grew its holdings in shares of ONEOK by 133.9% during the 4th quarter. NorthRock Partners LLC now owns 5,512 shares of the utilities provider's stock worth $553,000 after purchasing an additional 3,155 shares in the last quarter. Nomura Holdings Inc. acquired a new stake in shares of ONEOK during the 4th quarter worth approximately $2,601,000. Nissay Asset Management Corp Japan ADV grew its holdings in shares of ONEOK by 1.7% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 70,288 shares of the utilities provider's stock worth $7,087,000 after purchasing an additional 1,144 shares in the last quarter. Finally, Man Group plc grew its holdings in shares of ONEOK by 14.5% during the 4th quarter. Man Group plc now owns 335,653 shares of the utilities provider's stock worth $33,700,000 after purchasing an additional 42,474 shares in the last quarter. Institutional investors and hedge funds own 69.13% of the company's stock.

ONEOK Price Performance

Shares of OKE stock opened at $73.10 on Friday. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.59 and a quick ratio of 0.46. The firm has a market cap of $46.04 billion, a price-to-earnings ratio of 14.25, a P/E/G ratio of 1.74 and a beta of 1.04. The stock's fifty day simple moving average is $77.18 and its 200 day simple moving average is $83.34. ONEOK, Inc. has a one year low of $70.63 and a one year high of $118.07.

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

ONEOK Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Friday, August 1st were paid 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%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Raymond James Financial reissued an "outperform" rating on shares of ONEOK in a report on Friday, August 1st. Royal Bank Of Canada decreased their price target on ONEOK from $94.00 to $88.00 and set a "sector perform" rating on the stock in a research note on Wednesday, August 13th. TD Cowen initiated coverage on ONEOK in a research note on Monday, July 7th. They issued a "hold" rating and a $91.00 price target on the stock. Barclays set a $83.00 price target on ONEOK in a research note on Thursday, August 14th. Finally, Scotiabank set a $92.00 price target on ONEOK and gave the company a "sector outperform" rating in a research note on Tuesday, July 15th. One analyst has rated the stock with a Strong Buy rating, nine have assigned 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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