Jackson Hole Capital Partners LLC Grows Stock Holdings in ONEOK, Inc. $OKE

Key Points

• Jackson Hole Capital Partners LLC increased its stake in ONEOK, Inc. by 24.6% during the second quarter, owning a total of 81,923 shares valued at approximately $6.69 million.
• ONEOK reported earnings of $1.34 per share for the last quarter, exceeding analysts' expectations, with revenue of $8.21 billion significantly above anticipated figures.
• The latest quarterly dividend announced by ONEOK is $1.03, resulting in an annualized dividend yield of 5.9%, with a payout ratio of 80.31%.

Jackson Hole Capital Partners LLC increased its stake in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 24.6% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 81,923 shares of the utilities provider's stock after purchasing an additional 16,151 shares during the period. ONEOK makes up 1.2% of Jackson Hole Capital Partners LLC's investment portfolio, making the stock its 16th largest holding. Jackson Hole Capital Partners LLC's holdings in ONEOK were worth $6,687,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in OKE. Vanguard Group Inc. raised its holdings in shares of ONEOK by 7.2% during the first quarter. Vanguard Group Inc. now owns 75,196,969 shares of the utilities provider's stock valued at $7,461,043,000 after purchasing an additional 5,076,705 shares during the last quarter. Nuveen LLC purchased a new position in shares of ONEOK during the first quarter valued at approximately $440,535,000. Boston Partners purchased a new position in shares of ONEOK during the first quarter valued at approximately $353,596,000. Charles Schwab Investment Management Inc. raised its holdings in shares of ONEOK by 13.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 20,957,230 shares of the utilities provider's stock valued at $2,079,376,000 after purchasing an additional 2,542,449 shares during the last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of ONEOK by 51.9% during the first quarter. Wellington Management Group LLP now owns 6,388,987 shares of the utilities provider's stock valued at $633,915,000 after purchasing an additional 2,182,081 shares during the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

ONEOK Stock Performance

Shares of NYSE OKE opened at $69.84 on Friday. The firm has a fifty day moving average price of $72.50 and a 200-day moving average price of $78.49. 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 stock has a market cap of $43.98 billion, a PE ratio of 13.61, a price-to-earnings-growth ratio of 2.72 and a beta of 1.01. ONEOK, Inc. has a 1 year low of $66.56 and a 1 year 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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.33 by $0.01. The firm had revenue of $8.21 billion during the quarter, compared to analysts' expectations of $7.20 billion. ONEOK had a net margin of 11.06% and a return on equity of 14.90%. During the same period in the prior year, the company posted $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 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Monday, November 3rd will be paid a $1.03 dividend. The ex-dividend date of this dividend is Monday, November 3rd. This represents a $4.12 dividend on an annualized basis and a dividend yield of 5.9%. ONEOK's dividend payout ratio is 80.31%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on OKE. Weiss Ratings reissued a "hold (c+)" rating on shares of ONEOK in a report on Wednesday, October 8th. The Goldman Sachs Group assumed coverage on shares of ONEOK in a report on Tuesday, September 30th. They set a "neutral" rating and a $75.00 target price for the company. Raymond James Financial reaffirmed an "outperform" rating on shares of ONEOK in a report on Friday, August 1st. Morgan Stanley reduced their target price on shares of ONEOK from $122.00 to $110.00 and set an "overweight" rating for the company in a report on Tuesday, August 26th. Finally, JPMorgan Chase & Co. upped their target price on shares of ONEOK from $94.00 to $97.00 and gave the company an "overweight" rating in a report on Thursday, July 3rd. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $98.27.

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.

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