Northside Capital Management LLC Buys Shares of 6,439 ONEOK, Inc. $OKE

Key Points

• Northside Capital Management LLC has acquired a new stake in ONEOK, purchasing 6,439 shares valued at approximately $526,000 in the second quarter.
• In recent analysis, several brokerages adjusted their price targets for ONEOK, with Morgan Stanley lowering its target from $122 to $110 and highlighting an "overweight" rating.
• ONEOK recently declared a quarterly dividend of $1.03 per share, reflecting an annualized amount of $4.12 and a dividend yield of 5.7%.

Northside Capital Management LLC bought a new stake in ONEOK, Inc. (NYSE:OKE - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 6,439 shares of the utilities provider's stock, valued at approximately $526,000.

Several other large investors have also modified their holdings of the business. Marcum Wealth LLC grew its position in shares of ONEOK by 1.1% in the first quarter. Marcum Wealth LLC now owns 10,250 shares of the utilities provider's stock valued at $1,017,000 after purchasing an additional 108 shares during the last quarter. Presima Securities ULC grew its position in shares of ONEOK by 1.4% in the first quarter. Presima Securities ULC now owns 9,477 shares of the utilities provider's stock valued at $940,000 after purchasing an additional 127 shares during the last quarter. Morey & Quinn Wealth Partners LLC grew its position in shares of ONEOK by 0.8% in the first quarter. Morey & Quinn Wealth Partners LLC now owns 15,722 shares of the utilities provider's stock valued at $1,560,000 after purchasing an additional 130 shares during the last quarter. Clearstead Trust LLC grew its position in shares of ONEOK by 5.0% in the first quarter. Clearstead Trust LLC now owns 2,792 shares of the utilities provider's stock valued at $277,000 after purchasing an additional 133 shares during the last quarter. Finally, BankPlus Wealth Management LLC lifted its stake in shares of ONEOK by 2.8% during the 1st quarter. BankPlus Wealth Management LLC now owns 4,884 shares of the utilities provider's stock worth $485,000 after purchasing an additional 134 shares during the period. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have weighed in on OKE. Morgan Stanley decreased their price target on shares of ONEOK from $122.00 to $110.00 and set an "overweight" rating on the stock in a report on Tuesday, August 26th. Royal Bank Of Canada decreased 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. JPMorgan Chase & Co. lifted their target price on shares of ONEOK from $94.00 to $97.00 and gave the company an "overweight" rating in a report on Thursday, July 3rd. Scotiabank set a $92.00 target price on shares of ONEOK and gave the company a "sector outperform" rating in a report on Tuesday, July 15th. Finally, TD Cowen started coverage on shares of ONEOK in a report on Monday, July 7th. They set a "hold" rating and a $91.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $100.60.

ONEOK Price Performance

Shares of NYSE:OKE opened at $72.52 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 fifty-two week low of $70.63 and a fifty-two week high of $118.07. The firm has a 50-day simple moving average of $75.99 and a 200 day simple moving average of $82.21. The company has a market cap of $45.67 billion, a PE ratio of 14.14, a P/E/G ratio of 1.76 and a beta of 1.04.

ONEOK (NYSE:OKE - Get Free Report) last posted its earnings results on Monday, August 4th. The utilities provider reported $1.34 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts' expectations of $7.20 billion. During the same quarter in the prior year, the firm earned $1.33 EPS. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. On average, sell-side analysts anticipate 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. Stockholders of record on Friday, August 1st were paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date of this dividend was Friday, August 1st. ONEOK's dividend payout ratio is currently 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.

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