Lee Financial Co Has $2.48 Million Stock Position in ONEOK, Inc. $OKE

Key Points

• Lee Financial Co increased its holdings in ONEOK, Inc. by 41.6% in Q1, acquiring an additional 7,355 shares to total 25,033 shares, valued at approximately $2,484,000.
• Other notable institutional investors have also increased their positions in ONEOK, with Vanguard Group owning 75.2 million shares valued at over $7.4 billion after a 7.2% increase.
• ONEOK's latest earnings report showed an EPS of $1.34, surpassing analyst expectations, along with an announced quarterly dividend of $1.03, reflecting a yield of 5.6%.

Lee Financial Co grew its position in ONEOK, Inc. (NYSE:OKE - Free Report) by 41.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,033 shares of the utilities provider's stock after purchasing an additional 7,355 shares during the quarter. ONEOK comprises approximately 0.4% of Lee Financial Co's investment portfolio, making the stock its 26th biggest holding. Lee Financial Co's holdings in ONEOK were worth $2,484,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of OKE. Vanguard Group Inc. raised its holdings in shares of ONEOK by 7.2% in the first quarter. Vanguard Group Inc. now owns 75,196,969 shares of the utilities provider's stock worth $7,461,043,000 after buying an additional 5,076,705 shares during the last quarter. 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 buying an additional 2,542,449 shares in the last quarter. Invesco Ltd. increased its position in shares of ONEOK by 25.1% in the first quarter. Invesco Ltd. now owns 8,339,939 shares of the utilities provider's stock valued at $827,489,000 after buying an additional 1,674,706 shares in the last quarter. Northern Trust Corp grew its holdings in shares of ONEOK by 5.3% during the first quarter. Northern Trust Corp now owns 6,879,863 shares of the utilities provider's stock worth $682,620,000 after buying an additional 344,002 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in ONEOK by 51.9% during the first quarter. Wellington Management Group LLP now owns 6,388,987 shares of the utilities provider's stock worth $633,915,000 after buying an additional 2,182,081 shares in the last quarter. 69.13% of the stock is currently owned by institutional investors and hedge funds.

ONEOK Stock Performance

OKE stock traded up $0.2660 during midday trading on Thursday, reaching $73.9460. The company had a trading volume of 3,340,026 shares, compared to its average volume of 3,943,370. The company has a quick ratio of 0.46, a current ratio of 0.59 and a debt-to-equity ratio of 1.35. ONEOK, Inc. has a fifty-two week low of $72.18 and a fifty-two week high of $118.07. The stock has a 50 day moving average price of $79.69 and a 200 day moving average price of $86.12. The firm has a market capitalization of $46.57 billion, a PE ratio of 14.41, a P/E/G ratio of 1.74 and a beta of 0.99.

ONEOK (NYSE:OKE - Get Free Report) last issued its quarterly earnings data 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 for 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 previous year, the business earned $1.33 earnings per share. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. Analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Dividend Announcement

The company 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 annualized dividend and a yield of 5.6%. ONEOK's dividend payout ratio is 80.31%.

Analyst Ratings Changes

Several brokerages have recently commented on OKE. Stifel Nicolaus decreased their price target on ONEOK from $110.00 to $107.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Wells Fargo & Company reduced their target price on ONEOK from $102.00 to $93.00 and set an "equal weight" rating for the company in a report on Thursday, May 1st. Scotiabank set a $92.00 price objective on ONEOK and gave the stock a "sector outperform" rating in a research report on Tuesday, July 15th. TD Cowen began coverage on ONEOK in a report on Monday, July 7th. They issued a "hold" rating and a $91.00 target price for the company. 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 research note on Tuesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $103.57.

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.