Kovitz Investment Group Partners LLC Increases Stock Position in ONEOK, Inc. $OKE

Key Points

• Kovitz Investment Group Partners LLC has increased its holdings in ONEOK, Inc. by 18.5%, acquiring an additional 30,276 shares, bringing their total ownership to 193,817 shares valued at approximately $19.23 million.
• ONEOK recently reported a quarterly earnings per share of $1.34, exceeding analysts' expectations, with revenue of $8.21 billion against a forecast of $7.20 billion.
• The company has announced a quarterly dividend of $1.03 per share, equating to an annualized payout of $4.12 and a dividend yield of 5.5%.

Kovitz Investment Group Partners LLC boosted its holdings in ONEOK, Inc. (NYSE:OKE - Free Report) by 18.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 193,817 shares of the utilities provider's stock after purchasing an additional 30,276 shares during the period. Kovitz Investment Group Partners LLC's holdings in ONEOK were worth $19,231,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Merit Financial Group LLC grew its holdings in ONEOK by 11.4% in the first quarter. Merit Financial Group LLC now owns 11,505 shares of the utilities provider's stock worth $1,142,000 after purchasing an additional 1,180 shares during the period. Capital Investment Advisors LLC grew its holdings in ONEOK by 3.9% in the first quarter. Capital Investment Advisors LLC now owns 289,997 shares of the utilities provider's stock worth $28,774,000 after purchasing an additional 10,957 shares during the period. Kentucky Retirement Systems Insurance Trust Fund grew its holdings in shares of ONEOK by 146.9% during the first quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 18,033 shares of the utilities provider's stock valued at $1,789,000 after buying an additional 10,728 shares during the last quarter. Ensign Peak Advisors Inc grew its holdings in shares of ONEOK by 6.0% during the fourth quarter. Ensign Peak Advisors Inc now owns 340,480 shares of the utilities provider's stock valued at $34,184,000 after buying an additional 19,199 shares during the last quarter. Finally, Advisor Resource Council purchased a new stake in shares of ONEOK during the first quarter valued at approximately $511,000. 69.13% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on OKE shares. TD Cowen started coverage on shares of ONEOK in a research report on Monday, July 7th. They set a "hold" rating and a $91.00 price objective on the stock. Raymond James Financial reiterated an "outperform" rating on shares of ONEOK in a research report on Friday, August 1st. Wells Fargo & Company decreased their price target on shares of ONEOK from $102.00 to $93.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 1st. Barclays set a $83.00 price target on shares of ONEOK in a research report on Thursday, August 14th. Finally, Citigroup decreased their price objective on shares of ONEOK from $110.00 to $102.00 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $103.57.

ONEOK Stock Performance

NYSE OKE traded up $0.2710 during mid-day trading on Tuesday, reaching $73.3110. 1,605,197 shares of the stock were exchanged, compared to its average volume of 3,949,347. The business's 50 day moving average is $80.04 and its 200-day moving average is $86.29. ONEOK, Inc. has a 1 year low of $72.18 and a 1 year high of $118.07. The company has a market capitalization of $46.17 billion, a P/E ratio of 14.30, a P/E/G ratio of 1.75 and a beta of 0.99. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.46 and a current ratio of 0.59.

ONEOK (NYSE:OKE - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The utilities provider reported $1.34 earnings per share for the quarter, topping analysts' consensus estimates of $1.33 by $0.01. The company 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 business posted $1.33 earnings per share. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. On average, equities research analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Friday, August 1st were given a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date was Friday, August 1st. ONEOK's dividend payout ratio is 80.31%.

ONEOK 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.