Marino Stram & Associates LLC Buys Shares of 8,530 ONEOK, Inc. $OKE

Key Points

• Marino Stram & Associates LLC has acquired 8,530 shares of ONEOK, Inc., valued at approximately $696,000, indicating growing institutional interest in the utilities provider.
• Wall Street analysts have mixed ratings on ONEOK, with a consensus rating of "Moderate Buy" and a price target averaging around $99.00.
• ONEOK recently announced a quarterly dividend of $1.03 per share, yielding 5.6%, with a payout ratio of 80.31% reflected in its financial stability.

Marino Stram & Associates LLC acquired a new position in ONEOK, Inc. (NYSE:OKE - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 8,530 shares of the utilities provider's stock, valued at approximately $696,000.

Other institutional investors have also recently made changes to their positions in the company. First Pacific Financial bought a new stake in ONEOK in the first quarter worth $34,000. Financial Network Wealth Advisors LLC lifted its position in shares of ONEOK by 2,466.7% during the first quarter. Financial Network Wealth Advisors LLC now owns 385 shares of the utilities provider's stock worth $38,000 after purchasing an additional 370 shares during the last quarter. MorganRosel Wealth Management LLC bought a new stake in ONEOK during the 1st quarter valued at about $39,000. Financial Gravity Asset Management Inc. purchased a new position in shares of ONEOK during the first quarter valued at $40,000. Finally, Rakuten Securities Inc. raised its holdings in shares of ONEOK by 152.1% in the 1st quarter. Rakuten Securities Inc. now owns 421 shares of the utilities provider's stock valued at $42,000 after purchasing an additional 254 shares in the last quarter. Hedge funds and other institutional investors own 69.13% of the company's stock.

Wall Street Analysts Forecast Growth

OKE has been the subject of several recent analyst reports. The Goldman Sachs Group assumed coverage on shares of ONEOK in a research note on Tuesday. They issued a "neutral" rating and a $75.00 target price for the company. TD Cowen assumed coverage on shares of ONEOK in a research note on Monday, July 7th. They issued a "hold" rating and a $91.00 price objective on the stock. JPMorgan Chase & Co. lifted their price target on ONEOK from $94.00 to $97.00 and gave the company an "overweight" rating in a research report on Thursday, July 3rd. Mizuho decreased their price objective 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. Finally, Morgan Stanley decreased their target price on ONEOK from $122.00 to $110.00 and set an "overweight" rating on the stock in a research report on Tuesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $99.00.

ONEOK Stock Down 0.2%

Shares of NYSE OKE opened at $72.99 on Wednesday. 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 52-week low of $70.63 and a 52-week high of $118.07. The business has a 50-day moving average price of $75.23 and a 200 day moving average price of $81.51. The stock has a market cap of $45.97 billion, a PE ratio of 14.23, a price-to-earnings-growth ratio of 1.79 and a beta of 1.04.

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

ONEOK Announces Dividend

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

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