Advisors Asset Management Inc. Increases Position in ONEOK, Inc. $OKE

Key Points

• Advisors Asset Management Inc. increased its stake in ONEOK by 6.0%, acquiring an additional 5,606 shares, bringing their total holdings to 98,931 shares valued at approximately $9.8 million.
• Various other institutional investors also raised their positions, with Brighton Jones LLC increasing its holdings by 137.1% and AQR Capital Management LLC by 18.9% in the fourth quarter.
• ONEOK reported earnings of $1.34 per share, exceeding expectations, and recently declared a quarterly dividend of $1.03 per share, reflecting a dividend yield of 5.6%.

Advisors Asset Management Inc. increased its holdings in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 6.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 98,931 shares of the utilities provider's stock after acquiring an additional 5,606 shares during the quarter. Advisors Asset Management Inc.'s holdings in ONEOK were worth $9,816,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of OKE. Greenline Partners LLC acquired a new position in ONEOK during the fourth quarter worth about $32,000. First Pacific Financial acquired a new position in ONEOK during the first quarter worth about $34,000. Vermillion Wealth Management Inc. acquired a new position in ONEOK during the fourth quarter worth about $37,000. Financial Network Wealth Advisors LLC boosted its position 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 worth $38,000 after acquiring an additional 370 shares during the last quarter. Finally, MorganRosel Wealth Management LLC acquired a new position in ONEOK during the first quarter worth about $39,000. 69.13% of the stock is currently owned by institutional investors and hedge funds.

ONEOK Trading Up 1.2%

Shares of OKE stock traded up $0.84 during trading hours on Tuesday, hitting $72.20. The company had a trading volume of 1,343,108 shares, compared to its average volume of 3,904,791. The company's fifty day moving average is $77.87 and its 200 day moving average is $83.82. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.59 and a quick ratio of 0.46. ONEOK, Inc. has a fifty-two week low of $70.63 and a fifty-two week high of $118.07. The stock has a market capitalization of $45.47 billion, a PE ratio of 14.08, a price-to-earnings-growth ratio of 1.73 and a beta of 1.04.

ONEOK (NYSE:OKE - Get Free Report) last issued its quarterly earnings data 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 for the quarter, compared to analyst estimates of $7.20 billion. During the same period in the prior year, the business posted $1.33 EPS. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. Research analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Friday, August 1st were paid a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 5.7%. The ex-dividend date of this dividend was Friday, August 1st. ONEOK's dividend payout ratio is presently 80.31%.

Analysts Set New Price Targets

A number of research firms recently weighed in on OKE. Raymond James Financial restated an "outperform" rating on shares of ONEOK in a research report on Friday, August 1st. JPMorgan Chase & Co. boosted 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. TD Cowen started coverage on shares of ONEOK in a report on Monday, July 7th. They issued a "hold" rating and a $91.00 target price on the stock. 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, Morgan Stanley decreased their target price 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. One 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 stock. According to MarketBeat.com, ONEOK has an average rating of "Moderate Buy" and an average price target of $100.60.

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.