Focus Partners Wealth Purchases 170,832 Shares of ONEOK, Inc. $OKE

Key Points

• Focus Partners Wealth has increased its stake in ONEOK, Inc. by 139.4%, now owning 293,406 shares valued at approximately $29.1 million.
• ONEOK reported earnings of $1.34 per share, exceeding estimates, with revenue of $8.21 billion for the most recent quarter.
• The company declared a quarterly dividend of $1.03 per share, which results in a 5.6% dividend yield.

Focus Partners Wealth increased its position in ONEOK, Inc. (NYSE:OKE - Free Report) by 139.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 293,406 shares of the utilities provider's stock after purchasing an additional 170,832 shares during the period. Focus Partners Wealth's holdings in ONEOK were worth $29,112,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. First Pacific Financial bought a new position in shares of ONEOK in the 1st quarter worth $34,000. Vermillion Wealth Management Inc. bought a new position in shares of ONEOK in the 4th quarter worth $37,000. Financial Network Wealth Advisors LLC lifted its holdings in shares of ONEOK by 2,466.7% in the 1st 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 in the last quarter. MorganRosel Wealth Management LLC bought a new position in shares of ONEOK in the 1st quarter worth $39,000. Finally, Financial Gravity Asset Management Inc. bought a new position in shares of ONEOK in the 1st quarter worth $40,000. 69.13% of the stock is currently owned by institutional investors.

ONEOK Stock Performance

Shares of ONEOK stock opened at $73.35 on Friday. ONEOK, Inc. has a 1 year low of $70.63 and a 1 year high of $118.07. The firm has a market cap of $46.19 billion, a PE ratio of 14.30, a P/E/G ratio of 1.74 and a beta of 1.04. The stock has a fifty day moving average price of $77.35 and a 200-day moving average price of $83.50. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.59 and a quick ratio of 0.46.

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, beating the consensus estimate of $1.33 by $0.01. ONEOK had a return on equity of 14.90% and a net margin of 11.06%.The firm had revenue of $8.21 billion during the quarter, compared to analyst estimates of $7.20 billion. During the same period last year, the firm posted $1.33 EPS. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. Equities research analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Friday, August 1st were paid 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 dividend payout ratio is presently 80.31%.

Wall Street Analyst Weigh In

OKE has been the subject of a number of analyst reports. TD Cowen initiated coverage on ONEOK in a research report on Monday, July 7th. They issued a "hold" rating and a $91.00 price target for the company. Raymond James Financial reissued an "outperform" rating on shares of ONEOK in a research report on Friday, August 1st. Mizuho lowered 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. Morgan Stanley lowered their price target on ONEOK from $122.00 to $110.00 and set an "overweight" rating for the company in a research report on Tuesday, August 26th. Finally, Scotiabank set a $92.00 price target on ONEOK and gave the company a "sector outperform" rating in a research report on Tuesday, July 15th. One investment 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 company's stock. According to MarketBeat, ONEOK currently has a consensus rating of "Moderate Buy" and a consensus price target 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.