ONEOK, Inc. $OKE Shares Acquired by Clear Creek Financial Management LLC

Key Points

• Clear Creek Financial Management LLC increased its stake in ONEOK, Inc. by 123.8% during the 2nd quarter, owning 13,115 shares valued at approximately $1,071,000.
• ONEOK reported earnings of $1.34 per share for the last quarter, exceeding analyst estimates of $1.33, with revenue totaling $8.21 billion.
• The company declared a quarterly dividend of $1.03, representing an annualized basis of $4.12 and a dividend yield of 5.8%.

Clear Creek Financial Management LLC increased its stake in ONEOK, Inc. (NYSE:OKE - Free Report) by 123.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 13,115 shares of the utilities provider's stock after acquiring an additional 7,256 shares during the period. Clear Creek Financial Management LLC's holdings in ONEOK were worth $1,071,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Dark Forest Capital Management LP lifted its position in ONEOK by 409.5% during the first quarter. Dark Forest Capital Management LP now owns 40,372 shares of the utilities provider's stock valued at $4,006,000 after buying an additional 32,448 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund lifted its position in ONEOK by 146.9% during the first quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 18,033 shares of the utilities provider's stock valued at $1,789,000 after buying an additional 10,728 shares in the last quarter. Advisor Resource Council acquired a new position in ONEOK during the first quarter valued at approximately $511,000. Andrew Hill Investment Advisors Inc. acquired a new position in ONEOK during the second quarter valued at approximately $3,671,000. Finally, Banco Santander S.A. lifted its position in ONEOK by 22.2% during the first quarter. Banco Santander S.A. now owns 26,824 shares of the utilities provider's stock valued at $2,661,000 after buying an additional 4,880 shares in the last quarter. 69.13% of the stock is owned by institutional investors and hedge funds.

ONEOK Stock Down 1.5%

Shares of NYSE:OKE opened at $71.32 on Friday. The company has a current ratio of 0.59, a quick ratio of 0.46 and a debt-to-equity ratio of 1.35. The company has a fifty day simple moving average of $73.87 and a 200 day simple moving average of $80.32. The firm has a market cap of $44.91 billion, a PE ratio of 13.90, a price-to-earnings-growth ratio of 1.78 and a beta of 1.01. ONEOK, Inc. has a 12-month low of $70.63 and a 12-month high of $118.07.

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 (EPS) for the quarter, topping analysts' consensus estimates of $1.33 by $0.01. The business 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 in the previous year, the firm earned $1.33 earnings per share. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. On average, equities research analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Investors 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 5.8%. The ex-dividend date was Friday, August 1st. ONEOK's payout ratio is 80.31%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Morgan Stanley reduced their price target on shares of ONEOK from $122.00 to $110.00 and set an "overweight" rating on the stock in a research report on Tuesday, August 26th. TD Cowen initiated coverage on shares of ONEOK in a research report on Monday, July 7th. They set a "hold" rating and a $91.00 target price on the stock. Barclays reduced their target price on shares of ONEOK from $83.00 to $78.00 and set an "equal weight" rating on the stock in a research report on Thursday. JPMorgan Chase & Co. boosted their target price on shares of ONEOK from $94.00 to $97.00 and gave the stock an "overweight" rating in a research report on Thursday, July 3rd. Finally, The Goldman Sachs Group initiated coverage on shares of ONEOK in a research report on Tuesday, September 30th. They set a "neutral" rating and a $75.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, ONEOK presently has an average rating of "Moderate Buy" and an average 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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