ONEOK, Inc. $OKE Shares Acquired by CW Advisors LLC

Key Points

• CW Advisors LLC increased its holdings of ONEOK, Inc. by 47.1% in the first quarter, owning 12,301 shares worth approximately $1.22 million.
• Analysts have varying outlooks on ONEOK, with price targets ranging from $83.00 to $102.00 and an overall consensus rating of "Moderate Buy".
• ONEOK recently declared a quarterly dividend of $1.03 per share, representing a 5.5% yield, with a payout ratio of 80.31%.

CW Advisors LLC grew its holdings in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 47.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 12,301 shares of the utilities provider's stock after purchasing an additional 3,936 shares during the quarter. CW Advisors LLC's holdings in ONEOK were worth $1,221,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Summit Financial LLC lifted its stake in shares of ONEOK by 0.9% during the 1st quarter. Summit Financial LLC now owns 31,104 shares of the utilities provider's stock worth $3,086,000 after purchasing an additional 266 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of ONEOK by 2.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,851,770 shares of the utilities provider's stock worth $282,954,000 after purchasing an additional 61,010 shares during the period. Candriam S.C.A. lifted its stake in shares of ONEOK by 3.2% during the 1st quarter. Candriam S.C.A. now owns 56,519 shares of the utilities provider's stock worth $5,608,000 after purchasing an additional 1,741 shares during the period. Capital Analysts LLC lifted its stake in shares of ONEOK by 4.2% during the 1st quarter. Capital Analysts LLC now owns 35,662 shares of the utilities provider's stock worth $3,538,000 after purchasing an additional 1,423 shares during the period. Finally, Tradition Wealth Management LLC lifted its stake in shares of ONEOK by 5.6% during the 1st quarter. Tradition Wealth Management LLC now owns 8,132 shares of the utilities provider's stock worth $807,000 after purchasing an additional 432 shares during the period. Hedge funds and other institutional investors own 69.13% of the company's stock.

ONEOK Stock Up 0.7%

Shares of ONEOK stock traded up $0.51 during trading hours on Friday, hitting $76.40. 2,652,473 shares of the company's stock traded hands, compared to its average volume of 3,920,033. The stock has a 50 day simple moving average of $78.82 and a 200-day simple moving average of $85.19. 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 market cap of $48.12 billion, a PE ratio of 14.89, a PEG ratio of 1.78 and a beta of 0.99. ONEOK, Inc. has a twelve month low of $72.18 and a twelve month high of $118.07.

ONEOK (NYSE:OKE - Get Free Report) last announced its earnings results on Monday, August 4th. The utilities provider reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.01. The company had revenue of $8.21 billion during the quarter, compared to the consensus estimate of $7.20 billion. ONEOK had a return on equity of 14.90% and a net margin of 11.06%.During the same period last year, the firm earned $1.33 earnings per share. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. Equities research analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Friday, August 1st were paid a dividend of $1.03 per share. The ex-dividend date was Friday, August 1st. This represents a $4.12 annualized dividend and a dividend yield of 5.4%. ONEOK's dividend payout ratio (DPR) is currently 80.31%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. JPMorgan Chase & Co. increased their price target on ONEOK from $94.00 to $97.00 and gave the stock an "overweight" rating in a research note on Thursday, July 3rd. Raymond James Financial reaffirmed an "outperform" rating on shares of ONEOK in a research report on Friday, August 1st. Barclays set a $83.00 target price on ONEOK in a research report on Thursday, August 14th. Citigroup cut their target price on ONEOK from $110.00 to $102.00 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. Finally, Stifel Nicolaus cut their target price on ONEOK from $110.00 to $107.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price 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.