Price T Rowe Associates Inc. MD Boosts Stake in ONEOK, Inc. $OKE

Key Points

• Price T Rowe Associates Inc. MD increased its holdings in ONEOK, Inc. by 2.2% during Q1, owning approximately 2.85 million shares valued at $282.95 million.
• ONEOK has reported a Q2 EPS of $1.34, exceeding analyst expectations, and anticipates a FY 2025 EPS guidance of 5.370.
• The company declared a quarterly dividend of $1.03, which equates to an annualized yield of 5.5%, with an 80.31% payout ratio.

Price T Rowe Associates Inc. MD lifted its position in ONEOK, Inc. (NYSE:OKE - Free Report) by 2.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,851,770 shares of the utilities provider's stock after purchasing an additional 61,010 shares during the quarter. Price T Rowe Associates Inc. MD owned 0.46% of ONEOK worth $282,954,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of OKE. Greenline Partners LLC purchased a new position in shares of ONEOK in the 4th quarter worth about $32,000. First Pacific Financial purchased a new position in shares of ONEOK in the 1st quarter worth about $34,000. Vermillion Wealth Management Inc. purchased a new position in shares of ONEOK in the 4th quarter worth about $37,000. Financial Network Wealth Advisors LLC boosted its holdings in shares of ONEOK by 2,466.7% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 385 shares of the utilities provider's stock worth $38,000 after purchasing an additional 370 shares in the last quarter. Finally, Marshall & Sterling Wealth Advisors Inc. bought a new stake in shares of ONEOK in the 4th quarter valued at about $39,000. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on OKE shares. Wells Fargo & Company lowered their target price on ONEOK from $102.00 to $93.00 and set an "equal weight" rating for the company in a research note on Thursday, May 1st. Stifel Nicolaus lowered their target price on ONEOK from $110.00 to $107.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Raymond James Financial reissued an "outperform" rating on shares of ONEOK in a research note on Friday, August 1st. TD Cowen started coverage on ONEOK in a research note on Monday, July 7th. They issued a "hold" rating and a $91.00 target price for the company. Finally, JPMorgan Chase & Co. boosted their target price on ONEOK from $94.00 to $97.00 and gave the company an "overweight" rating in a research note on Thursday, July 3rd. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $101.93.

ONEOK Trading Up 1.1%

OKE traded up $0.83 during midday trading on Thursday, reaching $75.91. 1,440,005 shares of the company's stock traded hands, compared to its average volume of 3,920,535. The firm has a fifty day moving average of $78.93 and a two-hundred day moving average of $85.35. The stock has a market capitalization of $47.80 billion, a price-to-earnings ratio of 14.80, a P/E/G ratio of 1.76 and a beta of 0.99. 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 52 week low of $72.18 and a 52 week high of $118.07.

ONEOK (NYSE:OKE - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The utilities provider reported $1.34 EPS for the quarter, beating 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 return on equity of 14.90% and a net margin of 11.06%.During the same quarter in the prior year, the company posted $1.33 EPS. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. On average, equities analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Friday, August 1st were given a dividend of $1.03 per share. The ex-dividend date of this dividend was Friday, August 1st. This represents a $4.12 dividend on an annualized basis and a yield of 5.4%. ONEOK's dividend payout ratio is presently 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.