GW Henssler & Associates Ltd. Purchases Shares of 131,241 ONEOK, Inc. $OKE

Key Points

• GW Henssler & Associates Ltd. acquired 131,241 shares of ONEOK, Inc., valued at approximately $13 million, marking a significant new investment in the utilities provider during the first quarter.
• ONEOK reported a quarterly earnings per share (EPS) of $1.34, surpassing analysts' expectations, with revenue of $8.21 billion for the quarter, indicating strong financial performance.
• The company declared a quarterly dividend of $1.03, yielding 5.4%, with a payout ratio of 80.31%, showcasing its commitment to returning value to shareholders.

GW Henssler & Associates Ltd. bought a new stake in ONEOK, Inc. (NYSE:OKE - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 131,241 shares of the utilities provider's stock, valued at approximately $13,022,000.

A number of other large investors also recently bought and sold shares of the stock. Cigna Investments Inc. New lifted its position in ONEOK by 5.0% in the first quarter. Cigna Investments Inc. New now owns 6,270 shares of the utilities provider's stock valued at $622,000 after buying an additional 296 shares during the last quarter. Focus Partners Advisor Solutions LLC lifted its position in ONEOK by 7.1% in the first quarter. Focus Partners Advisor Solutions LLC now owns 12,133 shares of the utilities provider's stock valued at $1,204,000 after buying an additional 801 shares during the last quarter. Royal Bank of Canada lifted its position in ONEOK by 3.4% in the first quarter. Royal Bank of Canada now owns 2,222,527 shares of the utilities provider's stock valued at $220,518,000 after buying an additional 72,271 shares during the last quarter. Energy Income Partners LLC lifted its stake in ONEOK by 12.6% during the 1st quarter. Energy Income Partners LLC now owns 2,245,182 shares of the utilities provider's stock worth $222,767,000 after acquiring an additional 251,942 shares in the last quarter. Finally, Cura Wealth Advisors LLC acquired a new position in ONEOK during the 1st quarter worth about $225,000. Institutional investors and hedge funds own 69.13% of the company's stock.

Wall Street Analyst Weigh In

OKE has been the topic of a number of recent research reports. Morgan Stanley cut their price target on shares of ONEOK from $122.00 to $110.00 and set an "overweight" rating on the stock in a research note on Tuesday, August 26th. Barclays set a $83.00 target price on shares of ONEOK in a research note on Thursday, August 14th. TD Cowen began coverage on shares of ONEOK in a report on Monday, July 7th. They set a "hold" rating and a $91.00 target price on the stock. JPMorgan Chase & Co. boosted their price target on shares of ONEOK from $94.00 to $97.00 and gave the stock an "overweight" rating in a research note on Thursday, July 3rd. Finally, Scotiabank set a $92.00 price target on shares of ONEOK and gave the stock a "sector outperform" rating in a research note on Tuesday, July 15th. 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 stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $100.60.

ONEOK Stock Up 0.7%

Shares of OKE stock traded up $0.50 during trading hours on Thursday, reaching $74.37. 2,505,777 shares of the stock were exchanged, compared to its average volume of 3,914,235. The business's fifty day moving average is $78.39 and its two-hundred day moving average is $84.56. 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, Inc. has a 12-month low of $72.18 and a 12-month high of $118.07. The firm has a market capitalization of $46.83 billion, a P/E ratio of 14.50, a P/E/G ratio of 1.82 and a beta of 1.04.

ONEOK (NYSE:OKE - Get Free Report) last released its earnings results on Monday, August 4th. The utilities provider reported $1.34 earnings per share for the quarter, topping analysts' consensus estimates of $1.33 by $0.01. ONEOK had a net margin of 11.06% and a return on equity of 14.90%. The firm had revenue of $8.21 billion for the quarter, compared to analyst estimates of $7.20 billion. During the same period in the prior year, the firm earned $1.33 earnings per share. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. As a group, research analysts expect that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Announces Dividend

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

ONEOK Company 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.