Concurrent Investment Advisors LLC Acquires 14,351 Shares of ONEOK, Inc. $OKE

Key Points

• Concurrent Investment Advisors increased its ONEOK stake by 8.8% in the second quarter, acquiring 14,351 shares and bringing its total holdings to 176,800 shares valued at approximately $15.4 million. Institutional investors collectively own 69.13% of the company.
• ONEOK reported quarterly EPS of $1.53, exceeding estimates by $0.07, while revenue reached $12.05 billion. The company also maintains a $1.07 quarterly dividend, equivalent to a 4.5% annual yield.
• Analyst sentiment remains mixed, with the stock carrying a consensus “Hold” rating and a $95.50 average price target; recent targets range from $90 to $108.

Concurrent Investment Advisors LLC raised its holdings in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 8.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 176,800 shares of the utilities provider's stock after purchasing an additional 14,351 shares during the period. Concurrent Investment Advisors LLC's holdings in ONEOK were worth $15,371,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Zions Bancorporation National Association UT increased its position in ONEOK by 73.3% during the 4th quarter. Zions Bancorporation National Association UT now owns 338 shares of the utilities provider's stock valued at $25,000 after purchasing an additional 143 shares during the period. Pin Oak Investment Advisors Inc. purchased a new stake in shares of ONEOK in the 2nd quarter worth about $28,000. Elyxium Wealth LLC purchased a new stake in shares of ONEOK in the 4th quarter worth about $29,000. Cornerstone Financial Management LLC bought a new stake in shares of ONEOK during the 4th quarter valued at about $29,000. Finally, Transamerica Financial Advisors LLC increased its position in shares of ONEOK by 69.6% during the second quarter. Transamerica Financial Advisors LLC now owns 363 shares of the utilities provider's stock valued at $32,000 after buying an additional 149 shares during the period. Hedge funds and other institutional investors own 69.13% of the company's stock.

ONEOK Price Performance

Shares of OKE opened at $95.25 on Friday. ONEOK, Inc. has a fifty-two week low of $64.02 and a fifty-two week high of $99.85. The firm's 50-day simple moving average is $91.67 and its two-hundred day simple moving average is $89.11. The stock has a market cap of $60.04 billion, a PE ratio of 16.42, a price-to-earnings-growth ratio of 2.67 and a beta of 0.74. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.59 and a current ratio of 0.74.

ONEOK (NYSE:OKE - Get Free Report) last released its earnings results on Monday, August 3rd. The utilities provider reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.07. The firm had revenue of $12.05 billion during the quarter, compared to analyst estimates of $8.95 billion. ONEOK had a net margin of 9.29% and a return on equity of 16.41%. During the same period last year, the business earned $1.34 earnings per share. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. Analysts anticipate that ONEOK, Inc. will post 5.84 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Monday, August 3rd were issued a $1.07 dividend. This represents a $4.28 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend was Monday, August 3rd. ONEOK's payout ratio is 73.79%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Weiss Ratings raised shares of ONEOK from a "buy (b-)" rating to a "buy (b)" rating in a research note on Monday. TD Cowen upped their target price on ONEOK from $85.00 to $90.00 and gave the stock a "hold" rating in a report on Thursday, July 16th. Wall Street Zen raised ONEOK from a "sell" rating to a "hold" rating in a research report on Sunday, August 9th. Citigroup raised their target price on ONEOK from $97.00 to $108.00 and gave the company a "buy" rating in a research note on Thursday. Finally, UBS Group set a $105.00 price target on ONEOK in a research note on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $95.50.

ONEOK 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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