MGO One Seven LLC Increases Position in ONEOK, Inc. $OKE

Key Points

• MGO One Seven LLC significantly increased its holdings in ONEOK, Inc. by 957%, now owning 43,306 shares valued at approximately $3.54 million.
• ONEOK's stock received mixed ratings from analysts, with a consensus rating of "Moderate Buy" and a price target range between $82.00 and $110.00.
• The company recently declared a quarterly dividend of $1.03, which indicates an annualized yield of 5.9%, with a high dividend payout ratio of 80.31%.

MGO One Seven LLC lifted its position in ONEOK, Inc. (NYSE:OKE - Free Report) by 957.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 43,306 shares of the utilities provider's stock after purchasing an additional 39,209 shares during the period. MGO One Seven LLC's holdings in ONEOK were worth $3,535,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. First Pacific Financial purchased a new stake in shares of ONEOK in the first quarter worth $34,000. Financial Network Wealth Advisors LLC grew its stake in ONEOK by 2,466.7% during the first quarter. Financial Network Wealth Advisors LLC now owns 385 shares of the utilities provider's stock valued at $38,000 after acquiring an additional 370 shares in the last quarter. MorganRosel Wealth Management LLC purchased a new position in ONEOK during the first quarter valued at $39,000. Financial Gravity Asset Management Inc. purchased a new position in ONEOK during the first quarter valued at $40,000. Finally, Rakuten Securities Inc. grew its stake in ONEOK by 152.1% during the first quarter. Rakuten Securities Inc. now owns 421 shares of the utilities provider's stock valued at $42,000 after acquiring an additional 254 shares in the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. TD Cowen assumed coverage on shares of ONEOK in a research note on Monday, July 7th. They set a "hold" rating and a $91.00 target price for the company. JPMorgan Chase & Co. raised their target price on shares of ONEOK from $94.00 to $97.00 and gave the company an "overweight" rating in a research note on Thursday, July 3rd. Mizuho cut their target price on shares of ONEOK from $87.00 to $82.00 and set a "neutral" rating for the company in a research note on Friday, August 29th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of ONEOK in a research note on Wednesday, October 8th. Finally, Morgan Stanley lowered their price objective on shares of ONEOK from $122.00 to $110.00 and set an "overweight" rating for the company in a research report on Tuesday, August 26th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $98.69.

ONEOK Price Performance

OKE stock opened at $69.60 on Tuesday. ONEOK, Inc. has a 52 week low of $69.05 and a 52 week high of $118.07. The company has a quick ratio of 0.46, a current ratio of 0.59 and a debt-to-equity ratio of 1.35. The company has a fifty day simple moving average of $73.47 and a two-hundred day simple moving average of $79.61. The firm has a market capitalization of $43.83 billion, a P/E ratio of 13.57, a price-to-earnings-growth ratio of 1.69 and a beta of 1.01.

ONEOK (NYSE:OKE - Get Free Report) last released its earnings results on Monday, August 4th. The utilities provider reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.01. The firm had revenue of $8.21 billion during the quarter, compared to analyst estimates 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 business earned $1.33 EPS. 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 fiscal year.

ONEOK Dividend Announcement

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 $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 5.9%. The ex-dividend date was Friday, August 1st. ONEOK's dividend payout ratio (DPR) 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.

Want to see what other hedge funds are holding OKE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ONEOK, Inc. (NYSE:OKE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.