Hilltop National Bank Invests $1.06 Million in ONEOK, Inc. $OKE

Key Points

• Hilltop National Bank invested approximately $1.06 million in ONEOK, Inc., acquiring 12,997 shares of the utility provider's stock.
• ONEOK's stock was down 0.7% with a current trading price of $72.50, reflecting a market capitalization of $45.66 billion.
• The company recently announced a quarterly dividend of $1.03 per share, resulting in an annualized dividend yield of 5.7%.

Hilltop National Bank purchased a new position in shares of ONEOK, Inc. (NYSE:OKE - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 12,997 shares of the utilities provider's stock, valued at approximately $1,061,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of ONEOK by 9.7% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 658,947 shares of the utilities provider's stock worth $53,790,000 after acquiring an additional 58,227 shares during the period. Cornell Pochily Investment Advisors Inc. boosted its holdings in ONEOK by 27.2% during the second quarter. Cornell Pochily Investment Advisors Inc. now owns 8,953 shares of the utilities provider's stock worth $731,000 after buying an additional 1,915 shares in the last quarter. J. Safra Sarasin Holding AG boosted its holdings in ONEOK by 10.4% during the second quarter. J. Safra Sarasin Holding AG now owns 34,421 shares of the utilities provider's stock worth $2,810,000 after buying an additional 3,244 shares in the last quarter. Pure Financial Advisors LLC purchased a new stake in ONEOK during the second quarter worth about $551,000. Finally, RKL Wealth Management LLC boosted its holdings in ONEOK by 8.3% during the second quarter. RKL Wealth Management LLC now owns 14,746 shares of the utilities provider's stock worth $1,204,000 after buying an additional 1,131 shares in the last quarter. 69.13% of the stock is currently owned by institutional investors and hedge funds.

ONEOK Stock Down 0.7%

Shares of NYSE OKE opened at $72.50 on Friday. ONEOK, Inc. has a 12-month low of $70.63 and a 12-month high of $118.07. The company has a market capitalization of $45.66 billion, a PE ratio of 14.13, a price-to-earnings-growth ratio of 1.79 and a beta of 1.01. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.59 and a quick ratio of 0.46. The firm's 50-day moving average is $74.86 and its two-hundred day moving average is $81.27.

ONEOK (NYSE:OKE - Get Free Report) last announced its quarterly 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 net margin of 11.06% and a return on equity of 14.90%. The company had revenue of $8.21 billion for the quarter, compared to the consensus estimate of $7.20 billion. During the same quarter 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. Equities analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Friday, August 1st were paid a dividend of $1.03 per share. The ex-dividend date of this dividend was Friday, August 1st. This represents a $4.12 annualized dividend and a dividend yield of 5.7%. ONEOK's dividend payout ratio is presently 80.31%.

Analyst Ratings Changes

A number of research firms recently commented on OKE. Royal Bank Of Canada decreased their price objective on shares of ONEOK from $94.00 to $88.00 and set a "sector perform" rating on the stock in a report on Wednesday, August 13th. Scotiabank set a $92.00 price objective on shares of ONEOK and gave the stock a "sector outperform" rating in a report on Tuesday, July 15th. Mizuho decreased their price objective on shares of ONEOK from $87.00 to $82.00 and set a "neutral" rating on the stock in a report on Friday, August 29th. The Goldman Sachs Group began coverage on shares of ONEOK in a report on Tuesday. They set a "neutral" rating and a $75.00 price objective on the stock. Finally, Raymond James Financial reissued an "outperform" rating on shares of ONEOK in a report on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $99.00.

About ONEOK

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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