ONEOK, Inc. $OKE Position Raised by Ramirez Asset Management Inc.

Key Points

• Ramirez Asset Management Inc. increased its stake in ONEOK, Inc. by 128.9% during the second quarter, now owning 22,817 shares valued at approximately $1.86 million.
• ONEOK reported earnings of $1.34 per share, exceeding analysts' expectations, with revenues of $8.21 billion for the same quarter.
• The company recently announced a quarterly dividend of $1.03 per share, resulting in an annualized dividend yield of 5.8%.

Ramirez Asset Management Inc. raised its stake in ONEOK, Inc. (NYSE:OKE - Free Report) by 128.9% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 22,817 shares of the utilities provider's stock after buying an additional 12,848 shares during the quarter. Ramirez Asset Management Inc.'s holdings in ONEOK were worth $1,863,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Callan Family Office LLC increased its holdings in shares of ONEOK by 141.0% during the second quarter. Callan Family Office LLC now owns 11,056 shares of the utilities provider's stock valued at $903,000 after purchasing an additional 6,469 shares during the period. Blair William & Co. IL increased its holdings in shares of ONEOK by 4.6% during the second quarter. Blair William & Co. IL now owns 152,024 shares of the utilities provider's stock valued at $12,410,000 after purchasing an additional 6,636 shares during the period. Mainstay Capital Management LLC ADV increased its holdings in shares of ONEOK by 104.0% during the second quarter. Mainstay Capital Management LLC ADV now owns 56,252 shares of the utilities provider's stock valued at $4,592,000 after purchasing an additional 28,683 shares during the period. Leo Wealth LLC acquired a new position in shares of ONEOK during the second quarter valued at $230,000. Finally, US Bancorp DE increased its holdings in shares of ONEOK by 2.1% during the second quarter. US Bancorp DE now owns 83,253 shares of the utilities provider's stock valued at $6,796,000 after purchasing an additional 1,678 shares during the period. 69.13% of the stock is currently owned by institutional investors.

ONEOK Trading Down 1.5%

Shares of OKE opened at $71.32 on Friday. The business's 50-day moving average price is $73.87 and its 200 day moving average price is $80.32. The stock has a market capitalization of $44.91 billion, a P/E ratio of 13.90, a P/E/G ratio of 1.78 and a beta of 1.01. ONEOK, Inc. has a 1-year low of $70.63 and a 1-year high of $118.07. The company has a current ratio of 0.59, a quick ratio of 0.46 and a debt-to-equity ratio of 1.35.

ONEOK (NYSE:OKE - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The utilities provider reported $1.34 earnings per share for the quarter, topping analysts' consensus estimates of $1.33 by $0.01. The firm had revenue of $8.21 billion for the quarter, compared to analysts' expectations of $7.20 billion. ONEOK had a return on equity of 14.90% and a net margin of 11.06%.During the same quarter last year, the business posted $1.33 EPS. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. Analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Shareholders 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 5.8%. The ex-dividend date of this dividend was Friday, August 1st. ONEOK's payout ratio is 80.31%.

Analyst Upgrades and Downgrades

OKE has been the topic of a number of research analyst reports. Barclays lowered their price target on ONEOK from $83.00 to $78.00 and set an "equal weight" rating on the stock in a report on Thursday. The Goldman Sachs Group started coverage on ONEOK in a report on Tuesday, September 30th. They set a "neutral" rating and a $75.00 target price on the stock. Royal Bank Of Canada cut their price target on shares of ONEOK from $94.00 to $88.00 and set a "sector perform" rating for the company in a report on Wednesday, August 13th. Raymond James Financial reissued an "outperform" rating on shares of ONEOK in a report on Friday, August 1st. Finally, JPMorgan Chase & Co. upped their price target on shares of ONEOK from $94.00 to $97.00 and gave the company an "overweight" rating in a report on Thursday, July 3rd. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $98.69.

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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