ONEOK, Inc. $OKE Shares Bought by Callan Family Office LLC

Key Points

• Callan Family Office LLC increased its holdings in ONEOK, Inc. by 141% during the 2nd quarter, acquiring a total of 11,056 shares valued at approximately $903,000.
• ONEOK reported quarterly earnings of $1.34 EPS, surpassing analyst expectations, and achieved a revenue of $8.21 billion for the quarter.
• The company declared a quarterly dividend of $1.03, representing an annual yield of 6.0%, with a payout ratio of 80.31%.

Callan Family Office LLC grew its position in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 141.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,056 shares of the utilities provider's stock after purchasing an additional 6,469 shares during the period. Callan Family Office LLC's holdings in ONEOK were worth $903,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of OKE. First Pacific Financial acquired a new stake in shares of ONEOK during the 1st quarter worth about $34,000. Financial Network Wealth Advisors LLC boosted its stake in shares of ONEOK by 2,466.7% during 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 during the last quarter. MorganRosel Wealth Management LLC acquired a new stake in shares of ONEOK during the 1st quarter worth about $39,000. Financial Gravity Asset Management Inc. acquired a new stake in shares of ONEOK during the 1st quarter worth about $40,000. Finally, Rakuten Securities Inc. lifted its holdings in shares of ONEOK by 152.1% during the 1st quarter. Rakuten Securities Inc. now owns 421 shares of the utilities provider's stock worth $42,000 after acquiring an additional 254 shares during the period. 69.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Morgan Stanley cut their price objective 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. Raymond James Financial reiterated an "outperform" rating on shares of ONEOK in a report on Friday, August 1st. The Goldman Sachs Group assumed coverage on shares of ONEOK in a report on Tuesday, September 30th. They set a "neutral" rating and a $75.00 price objective on the stock. Royal Bank Of Canada cut their price objective on shares of ONEOK from $94.00 to $88.00 and set a "sector perform" rating on the stock in a report on Wednesday, August 13th. Finally, Mizuho cut their price objective on shares of ONEOK from $87.00 to $82.00 and set a "neutral" rating on the stock in a report on Friday, August 29th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, ONEOK has a consensus rating of "Moderate Buy" and a consensus price target of $98.69.

ONEOK Trading Down 2.9%

NYSE OKE opened at $69.22 on Monday. ONEOK, Inc. has a one year low of $69.08 and a one year high of $118.07. The company's 50 day moving average price is $73.67 and its 200 day moving average price is $79.81. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.46 and a current ratio of 0.59. The firm has a market capitalization of $43.59 billion, a price-to-earnings ratio of 13.49, a PEG ratio of 1.69 and a beta of 1.01.

ONEOK (NYSE:OKE - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The utilities provider reported $1.34 EPS for the quarter, beating 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 quarter last year, the firm posted $1.33 earnings per share. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. On average, sell-side analysts predict that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Friday, August 1st were issued a $1.03 dividend. The ex-dividend date was Friday, August 1st. This represents a $4.12 annualized dividend and a yield of 6.0%. ONEOK's dividend payout ratio (DPR) is presently 80.31%.

About ONEOK

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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