Cultivar Capital Inc. Invests $472,000 in ONEOK, Inc. $OKE

Key Points

• Cultivar Capital Inc. invested approximately $472,000 in 5,785 shares of ONEOK, Inc., making it the firm's 18th largest position.
• Several hedge funds increased their stakes in ONEOK, with notable increases including Wesbanco Bank Inc., which raised its stake by 61.8%.
• ONEOK reported $1.34 earnings per share for the last quarter, exceeding analysts' expectations, and declared a quarterly dividend of $1.03 per share, representing a dividend yield of 5.6%.

Cultivar Capital Inc. bought a new position in shares of ONEOK, Inc. (NYSE:OKE - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 5,785 shares of the utilities provider's stock, valued at approximately $472,000. ONEOK makes up 0.3% of Cultivar Capital Inc.'s holdings, making the stock its 18th largest position.

Several other hedge funds have also recently bought and sold shares of the company. Trust Co. of Oklahoma increased its stake in ONEOK by 11.3% in the 2nd quarter. Trust Co. of Oklahoma now owns 4,178 shares of the utilities provider's stock valued at $341,000 after purchasing an additional 424 shares in the last quarter. Wealth Alliance Advisory Group LLC increased its stake in ONEOK by 8.0% in the 2nd quarter. Wealth Alliance Advisory Group LLC now owns 18,774 shares of the utilities provider's stock valued at $1,533,000 after purchasing an additional 1,396 shares in the last quarter. Wesbanco Bank Inc. increased its stake in ONEOK by 61.8% in the 2nd quarter. Wesbanco Bank Inc. now owns 17,313 shares of the utilities provider's stock valued at $1,413,000 after purchasing an additional 6,613 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its stake in ONEOK by 13.1% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 10,755 shares of the utilities provider's stock valued at $878,000 after purchasing an additional 1,246 shares in the last quarter. Finally, RDA Financial Network increased its stake in ONEOK by 15.0% in the 2nd quarter. RDA Financial Network now owns 6,607 shares of the utilities provider's stock valued at $539,000 after purchasing an additional 862 shares in the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on OKE. Mizuho dropped their price target on ONEOK from $87.00 to $82.00 and set a "neutral" rating for the company in a research report on Friday, August 29th. TD Cowen began coverage on ONEOK in a research report on Monday, July 7th. They set a "hold" rating and a $91.00 price target for the company. Barclays set a $83.00 price target on ONEOK in a research report on Thursday, August 14th. 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. Finally, Morgan Stanley decreased their price objective on ONEOK from $122.00 to $110.00 and set an "overweight" rating on the stock in a report on Tuesday, August 26th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, ONEOK presently has an average rating of "Moderate Buy" and an average price target of $100.60.

ONEOK Trading Down 0.3%

NYSE:OKE opened at $73.10 on Monday. ONEOK, Inc. has a 12 month low of $70.63 and a 12 month high of $118.07. The firm has a market capitalization of $46.04 billion, a PE ratio of 14.25, a price-to-earnings-growth ratio of 1.74 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. The business's 50-day moving average is $77.18 and its two-hundred day moving average is $83.16.

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, topping analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $7.20 billion. During the same period in the previous year, the company earned $1.33 earnings per share. 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 disclosed a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Friday, August 1st were given a dividend of $1.03 per share. The ex-dividend date was Friday, August 1st. This represents a $4.12 annualized dividend and a dividend yield of 5.6%. ONEOK's payout ratio 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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