Klein Pavlis & Peasley Financial Inc. Raises Holdings in ONEOK, Inc. $OKE

Key Points

• Klein Pavlis & Peasley Financial Inc. increased its holdings in ONEOK, Inc. by 14.6% in the 2nd quarter, bringing its total shares to 55,540, valued at $4.53 million.
• ONEOK reported a $1.34 earnings per share (EPS) in its latest earnings release, surpassing analyst expectations and reflecting a strong revenue of $8.21 billion.
• The company declared a quarterly dividend of $1.03, which translates to an annualized payout of $4.12 and a yield of 5.6%.

Klein Pavlis & Peasley Financial Inc. boosted its position in ONEOK, Inc. (NYSE:OKE - Free Report) by 14.6% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 55,540 shares of the utilities provider's stock after purchasing an additional 7,070 shares during the period. ONEOK comprises 3.0% of Klein Pavlis & Peasley Financial Inc.'s holdings, making the stock its 7th largest position. Klein Pavlis & Peasley Financial Inc.'s holdings in ONEOK were worth $4,534,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of OKE. Global Trust Asset Management LLC raised its stake in ONEOK by 195.7% in the second quarter. Global Trust Asset Management LLC now owns 9,950 shares of the utilities provider's stock valued at $812,000 after buying an additional 6,585 shares during the period. San Luis Wealth Advisors LLC acquired a new position in shares of ONEOK during the 2nd quarter worth approximately $1,266,000. Advisors Management Group Inc. ADV increased its holdings in shares of ONEOK by 732.8% during the 2nd quarter. Advisors Management Group Inc. ADV now owns 72,127 shares of the utilities provider's stock worth $5,888,000 after acquiring an additional 63,466 shares during the last quarter. Twelve Points Wealth Management LLC raised its stake in ONEOK by 18.1% in the 2nd quarter. Twelve Points Wealth Management LLC now owns 35,497 shares of the utilities provider's stock valued at $2,898,000 after acquiring an additional 5,452 shares during the period. Finally, Ipswich Investment Management Co. Inc. lifted its holdings in ONEOK by 9.0% during the 2nd quarter. Ipswich Investment Management Co. Inc. now owns 66,345 shares of the utilities provider's stock valued at $5,416,000 after purchasing an additional 5,455 shares during the last quarter. Institutional investors and hedge funds own 69.13% of the company's stock.

ONEOK Stock Up 0.6%

Shares of OKE opened at $73.86 on Monday. 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, Inc. has a 12 month low of $70.63 and a 12 month high of $118.07. The firm's 50 day moving average is $75.53 and its 200-day moving average is $81.74. The stock has a market capitalization of $46.51 billion, a PE ratio of 14.40, a P/E/G ratio of 1.81 and a beta of 1.04.

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 (EPS) for the quarter, topping analysts' consensus estimates of $1.33 by $0.01. ONEOK had a return on equity of 14.90% and a net margin of 11.06%.The business 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 business posted $1.33 earnings per share. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. Equities research analysts forecast that ONEOK, Inc. will post 5.07 EPS 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 paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 5.6%. The ex-dividend date of this dividend was Friday, August 1st. ONEOK's payout ratio is 80.31%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. 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. Mizuho decreased their price target on shares of ONEOK from $87.00 to $82.00 and set a "neutral" rating on the stock in a research note on Friday, August 29th. Royal Bank Of Canada lowered their price target 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. Raymond James Financial restated an "outperform" rating on shares of ONEOK in a report on Friday, August 1st. Finally, TD Cowen assumed coverage on ONEOK in a research report on Monday, July 7th. They issued a "hold" rating and a $91.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $100.60.

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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