Kingstone Capital Partners Texas LLC Makes New Investment in ONEOK, Inc. $OKE

Key Points

• Kingstone Capital Partners Texas LLC has acquired a new stake in ONEOK, Inc. valued at approximately $31.17 million, representing 381,813 shares, as reported in their latest SEC filing.
• Analysts have set various target prices for ONEOK, with Barclays and Scotiabank setting targets of $83.00 and $92.00 respectively, indicating a consensus rating of "Moderate Buy".
• ONEOK recently declared a quarterly dividend of $1.03 per share, yielding 5.8%, with a dividend payout ratio of 80.31%.

Kingstone Capital Partners Texas LLC bought a new stake in shares of ONEOK, Inc. (NYSE:OKE - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 381,813 shares of the utilities provider's stock, valued at approximately $31,167,000. Kingstone Capital Partners Texas LLC owned 0.06% of ONEOK as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in ONEOK by 7.2% in the 1st 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 period. Nuveen LLC purchased a new position in ONEOK in the 1st quarter worth $440,535,000. Boston Partners purchased a new position in ONEOK in the 1st quarter worth $353,596,000. Charles Schwab Investment Management Inc. increased its position in shares of ONEOK by 13.8% in 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 acquiring an additional 2,542,449 shares during the period. Finally, Wellington Management Group LLP increased its position in shares of ONEOK by 51.9% in 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 acquiring an additional 2,182,081 shares during the period. 69.13% of the stock is owned by institutional investors.

ONEOK Stock Performance

Shares of NYSE OKE traded up $1.18 during midday trading on Tuesday, reaching $72.80. The company had a trading volume of 1,308,178 shares, compared to its average volume of 3,886,164. The business's 50-day simple moving average is $76.14 and its 200 day simple moving average is $82.27. The stock has a market cap of $45.85 billion, a P/E ratio of 14.19, a P/E/G ratio of 1.76 and a beta of 1.04. ONEOK, Inc. has a 1 year low of $70.63 and a 1 year high of $118.07. The company has a current ratio of 0.59, a quick ratio of 0.46 and a debt-to-equity ratio of 1.35.

ONEOK (NYSE:OKE - Get Free Report) last posted its quarterly earnings results 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 business 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 quarter last year, the company posted $1.33 earnings per share. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. On average, analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Shareholders 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 5.7%. ONEOK's dividend payout ratio (DPR) is currently 80.31%.

Analysts Set New Price Targets

A number of research firms have issued reports 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 research report on Wednesday, August 13th. Morgan Stanley decreased 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. Scotiabank set a $92.00 price objective on shares of ONEOK and gave the company a "sector outperform" rating in a report on Tuesday, July 15th. Barclays set a $83.00 target price on shares of ONEOK in a report on Thursday, August 14th. Finally, Mizuho dropped their price target on shares of ONEOK from $87.00 to $82.00 and set a "neutral" rating for the company in a research report on Friday, August 29th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $100.60.

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.