ONEOK, Inc. $OKE Shares Acquired by Groupe la Francaise

Key Points

• Groupe la Francaise increased its stake in ONEOK, Inc. by 7.9% in Q1, holding 77,949 shares valued at $7.69 million at the end of the reporting period.
• ONEOK reported a Q2 EPS of $1.34, exceeding analysts' expectations of $1.33, and showed significant revenue growth with $8.21 billion during the quarter.
• The company has declared a $1.03 quarterly dividend, leading to an annualized dividend yield of 5.5% and a payout ratio of 80.31%.

Groupe la Francaise boosted its stake in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 7.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 77,949 shares of the utilities provider's stock after purchasing an additional 5,726 shares during the period. Groupe la Francaise's holdings in ONEOK were worth $7,692,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of OKE. Greenline Partners LLC acquired a new position in ONEOK during the fourth quarter valued at $32,000. First Pacific Financial purchased a new position in ONEOK during the first quarter valued at $34,000. Vermillion Wealth Management Inc. acquired a new stake in ONEOK in the 4th quarter worth about $37,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in ONEOK in the 4th quarter valued at $39,000. Finally, Financial Network Wealth Advisors LLC lifted its stake in shares of ONEOK by 2,466.7% in the first quarter. Financial Network Wealth Advisors LLC now owns 385 shares of the utilities provider's stock worth $38,000 after buying an additional 370 shares in the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

ONEOK Stock Performance

OKE traded up $0.70 on Wednesday, hitting $75.12. 2,301,794 shares of the company traded hands, compared to its average volume of 3,936,755. ONEOK, Inc. has a 12-month low of $72.18 and a 12-month high of $118.07. The company has a 50 day moving average of $79.05 and a 200-day moving average of $85.42. The company has a quick ratio of 0.46, a current ratio of 0.59 and a debt-to-equity ratio of 1.35. The stock has a market capitalization of $47.31 billion, a PE ratio of 14.64, a PEG ratio of 1.76 and a beta of 0.99.

ONEOK (NYSE:OKE - Get Free Report) last released its earnings results on Monday, August 4th. The utilities provider reported $1.34 earnings per share (EPS) for the quarter, beating 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 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. Sell-side analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Friday, August 1st were paid a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 5.5%. The ex-dividend date was Friday, August 1st. ONEOK's dividend payout ratio (DPR) is 80.31%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on OKE shares. Royal Bank Of Canada cut their price objective on shares of ONEOK from $94.00 to $88.00 and set a "sector perform" rating for the company in a research report on Wednesday, August 13th. Scotiabank set a $92.00 price target on shares of ONEOK and gave the company a "sector outperform" rating in a research report on Tuesday, July 15th. TD Cowen initiated coverage on shares of ONEOK in a report on Monday, July 7th. They issued a "hold" rating and a $91.00 target price on the stock. Citigroup cut their target price on ONEOK from $110.00 to $102.00 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. Finally, Stifel Nicolaus cut their target price on ONEOK from $110.00 to $107.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. One investment 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. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $101.93.

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.