Foster Victor Wealth Advisors LLC Has $15.66 Million Stock Position in ONEOK, Inc. $OKE

Key Points

• Foster Victor Wealth Advisors LLC increased its stake in ONEOK, Inc. by 12.9%, owning 192,997 shares valued at approximately $15.66 million at the end of the second quarter.
• ONEOK's quarterly earnings showed an EPS of $1.34, surpassing analyst expectations, with revenues reaching $8.21 billion.
• The company announced a quarterly dividend of $1.03, representing an annualized dividend yield of 5.7% and a payout ratio of 80.31%.

Foster Victor Wealth Advisors LLC lifted its stake in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 12.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 192,997 shares of the utilities provider's stock after purchasing an additional 22,038 shares during the period. Foster Victor Wealth Advisors LLC's holdings in ONEOK were worth $15,664,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. First Pacific Financial bought a new position in ONEOK in the 1st quarter worth approximately $34,000. Financial Network Wealth Advisors LLC raised its position in shares of ONEOK by 2,466.7% during the first quarter. Financial Network Wealth Advisors LLC now owns 385 shares of the utilities provider's stock worth $38,000 after acquiring an additional 370 shares during the last quarter. MorganRosel Wealth Management LLC acquired a new position in shares of ONEOK during the first quarter valued at $39,000. Financial Gravity Asset Management Inc. acquired a new position in shares of ONEOK during the first quarter valued at $40,000. Finally, Rakuten Securities Inc. boosted its holdings in ONEOK by 152.1% in the first quarter. Rakuten Securities Inc. now owns 421 shares of the utilities provider's stock valued at $42,000 after acquiring an additional 254 shares during the last quarter. 69.13% of the stock is owned by institutional investors.

ONEOK Stock Up 1.3%

Shares of ONEOK stock opened at $72.52 on Wednesday. The firm has a market cap of $45.67 billion, a PE ratio of 14.14, a P/E/G ratio of 1.76 and a beta of 1.04. The business's 50 day simple moving average is $75.99 and its 200 day simple moving average is $82.21. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.46 and a current ratio of 0.59. ONEOK, Inc. has a 52-week low of $70.63 and a 52-week high of $118.07.

ONEOK (NYSE:OKE - Get Free Report) last announced 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 business had revenue of $8.21 billion for the quarter, compared to analyst estimates of $7.20 billion. ONEOK had a net margin of 11.06% and a return on equity of 14.90%. During the same quarter in the previous year, the firm posted $1.33 earnings per share. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. On average, analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Friday, August 1st were given 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 dividend yield of 5.7%. ONEOK's payout ratio is currently 80.31%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on OKE. Mizuho cut their target price on shares of ONEOK from $87.00 to $82.00 and set a "neutral" rating on the stock in a research report on Friday, August 29th. Royal Bank Of Canada dropped their price target on shares of ONEOK from $94.00 to $88.00 and set a "sector perform" rating for the company in a research note on Wednesday, August 13th. Raymond James Financial reaffirmed an "outperform" rating on shares of ONEOK in a research note on Friday, August 1st. JPMorgan Chase & Co. increased their price target on ONEOK from $94.00 to $97.00 and gave the company an "overweight" rating in a research note on Thursday, July 3rd. Finally, Morgan Stanley dropped their price objective on ONEOK from $122.00 to $110.00 and set an "overweight" rating for the company in a report on Tuesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently 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.

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.