Global Trust Asset Management LLC Has $812,000 Stake in ONEOK, Inc. $OKE

Key Points

• Global Trust Asset Management LLC increased its stake in ONEOK, Inc. by 195.7% in Q2, owning 9,950 shares valued at $812,000.
• ONEOK reported $1.34 earnings per share, exceeding analysts' expectations, with a revenue of $8.21 billion for the quarter.
• The company also declared a quarterly dividend of $1.03, resulting in an annualized dividend yield of 5.6%.

Global Trust Asset Management LLC grew its stake in ONEOK, Inc. (NYSE:OKE - Free Report) by 195.7% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,950 shares of the utilities provider's stock after purchasing an additional 6,585 shares during the quarter. Global Trust Asset Management LLC's holdings in ONEOK were worth $812,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of OKE. San Luis Wealth Advisors LLC purchased a new stake in ONEOK in the 2nd quarter valued at $1,266,000. Advisors Management Group Inc. ADV grew its stake in shares of ONEOK by 732.8% in the 2nd quarter. Advisors Management Group Inc. ADV now owns 72,127 shares of the utilities provider's stock worth $5,888,000 after acquiring an additional 63,466 shares in the last quarter. Twelve Points Wealth Management LLC grew its stake in shares of ONEOK by 18.1% in the 2nd quarter. Twelve Points Wealth Management LLC now owns 35,497 shares of the utilities provider's stock worth $2,898,000 after acquiring an additional 5,452 shares in the last quarter. Ipswich Investment Management Co. Inc. grew its stake in shares of ONEOK by 9.0% in the 2nd quarter. Ipswich Investment Management Co. Inc. now owns 66,345 shares of the utilities provider's stock worth $5,416,000 after acquiring an additional 5,455 shares in the last quarter. Finally, Patton Fund Management Inc. purchased a new position in ONEOK during the second quarter worth about $208,000. Institutional investors own 69.13% of the company's stock.

ONEOK Stock Up 0.6%

Shares of NYSE:OKE opened at $73.86 on Monday. ONEOK, Inc. has a 52-week low of $70.63 and a 52-week high of $118.07. The firm has a fifty day moving average of $75.53 and a 200 day moving average of $81.74. The firm has a market capitalization of $46.51 billion, a PE ratio of 14.40, a price-to-earnings-growth ratio of 1.81 and a beta of 1.04. 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 (NYSE:OKE - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The utilities provider reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.01. The firm had revenue of $8.21 billion during 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 company posted $1.33 earnings per share. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. As a group, research analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Stockholders 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 dividend yield of 5.6%. ONEOK's dividend payout ratio is 80.31%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Scotiabank set a $92.00 target price on shares of ONEOK and gave the stock a "sector outperform" rating in a research report on Tuesday, July 15th. Mizuho decreased 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. Royal Bank Of Canada decreased 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. Barclays set a $83.00 price objective on ONEOK in a research note on Thursday, August 14th. Finally, Raymond James Financial reissued an "outperform" rating on shares of ONEOK in a report on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus 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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