Jump Financial LLC Buys 8,137 Shares of ONEOK, Inc. $OKE

Key Points

• Jump Financial LLC increased its holdings in ONEOK, Inc. by 42.1%, acquiring an additional 8,137 shares, bringing its total to 27,475 shares valued at approximately $2.726 million.
• Recent analyst reports have given ONEOK a consensus rating of "Moderate Buy" with a target price of $101.93, indicating positive sentiment from the investment community.
• ONEOK recently announced a quarterly dividend of $1.03, translating to an annualized yield of 5.5%, with a dividend payout ratio of 80.31%.

Jump Financial LLC raised its position in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 42.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,475 shares of the utilities provider's stock after acquiring an additional 8,137 shares during the period. Jump Financial LLC's holdings in ONEOK were worth $2,726,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Marcum Wealth LLC lifted its stake in ONEOK by 1.1% during the first quarter. Marcum Wealth LLC now owns 10,250 shares of the utilities provider's stock worth $1,017,000 after purchasing an additional 108 shares during the period. West Paces Advisors Inc. lifted its stake in ONEOK by 4.7% during the fourth quarter. West Paces Advisors Inc. now owns 2,527 shares of the utilities provider's stock worth $254,000 after purchasing an additional 114 shares during the period. Morey & Quinn Wealth Partners LLC lifted its stake in ONEOK by 0.8% during the first quarter. Morey & Quinn Wealth Partners LLC now owns 15,722 shares of the utilities provider's stock worth $1,560,000 after purchasing an additional 130 shares during the period. Visionary Wealth Advisors lifted its stake in ONEOK by 2.1% during the fourth quarter. Visionary Wealth Advisors now owns 6,320 shares of the utilities provider's stock worth $635,000 after purchasing an additional 132 shares during the period. Finally, Clearstead Trust LLC lifted its stake in ONEOK by 5.0% during the first quarter. Clearstead Trust LLC now owns 2,792 shares of the utilities provider's stock worth $277,000 after purchasing an additional 133 shares during the period. 69.13% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. JPMorgan Chase & Co. raised 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. Royal Bank Of Canada cut their price target on shares of ONEOK from $94.00 to $88.00 and set a "sector perform" rating for the company in a research note on Wednesday, August 13th. Barclays set a $83.00 price target on shares of ONEOK in a research note on Thursday, August 14th. Mizuho dropped their price objective on shares of ONEOK from $87.00 to $82.00 and set a "neutral" rating for the company in a report on Friday. Finally, Citigroup dropped their price objective on shares of ONEOK from $110.00 to $102.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $100.60.

ONEOK Price Performance

Shares of ONEOK stock traded up $0.51 during midday trading on Friday, reaching $76.40. The company had a trading volume of 2,652,473 shares, compared to its average volume of 3,674,381. The company has a current ratio of 0.59, a quick ratio of 0.46 and a debt-to-equity ratio of 1.35. The company has a market capitalization of $48.12 billion, a price-to-earnings ratio of 14.89, a price-to-earnings-growth ratio of 1.80 and a beta of 0.99. The stock has a fifty day simple moving average of $78.71 and a 200 day simple moving average of $85.04. ONEOK, Inc. has a 1-year low of $72.18 and a 1-year high of $118.07.

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 for the quarter, beating analysts' consensus estimates of $1.33 by $0.01. The business had revenue of $8.21 billion during the quarter, compared to analyst estimates of $7.20 billion. ONEOK had a net margin of 11.06% and a return on equity of 14.90%. During the same quarter last year, the business posted $1.33 earnings per share. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. As a group, equities research analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Friday, August 1st were issued 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 5.4%. ONEOK's dividend payout ratio (DPR) is currently 80.31%.

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.