ONEOK, Inc. $OKE Shares Bought by Hudson Edge Investment Partners Inc.

Key Points

• Hudson Edge Investment Partners Inc. increased its stake in ONEOK, Inc. by 23.9%, owning 65,385 shares valued at approximately $5.34 million.
• ONEOK's most recent earnings showed a reported EPS of $1.34, slightly surpassing the consensus estimate of $1.33, with revenues hitting $8.21 billion against expected $7.20 billion.
• The company declared a quarterly dividend of $1.03 per share, reflecting a 5.7% dividend yield, with a payout ratio of 80.31%.

Hudson Edge Investment Partners Inc. raised its position in ONEOK, Inc. (NYSE:OKE - Free Report) by 23.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 65,385 shares of the utilities provider's stock after buying an additional 12,625 shares during the period. Hudson Edge Investment Partners Inc.'s holdings in ONEOK were worth $5,337,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. First Pacific Financial acquired a new stake in ONEOK in the 1st quarter worth about $34,000. Financial Network Wealth Advisors LLC boosted its holdings in 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 buying an additional 370 shares during the last quarter. MorganRosel Wealth Management LLC acquired a new stake in ONEOK in the 1st quarter worth about $39,000. Financial Gravity Asset Management Inc. acquired a new stake in ONEOK in the 1st quarter worth about $40,000. Finally, Rakuten Securities Inc. boosted its holdings in ONEOK by 152.1% in the 1st quarter. Rakuten Securities Inc. now owns 421 shares of the utilities provider's stock worth $42,000 after buying an additional 254 shares during the last quarter. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently issued reports on OKE. The Goldman Sachs Group began coverage on ONEOK in a report on Tuesday. They issued a "neutral" rating and a $75.00 price objective on the stock. Raymond James Financial reissued an "outperform" rating on shares of ONEOK in a research note on Friday, August 1st. Barclays set a $83.00 target price on shares of ONEOK in a research note on Thursday, August 14th. Mizuho decreased their target price on shares of ONEOK from $87.00 to $82.00 and set a "neutral" rating on the stock in a research note on Friday, August 29th. Finally, Scotiabank set a $92.00 target price on shares of ONEOK and gave the stock a "sector outperform" rating in a research note on Tuesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $99.00.

ONEOK Stock Down 0.7%

OKE stock opened at $72.50 on Friday. The firm has a market cap of $45.66 billion, a PE ratio of 14.13, a PEG ratio of 1.79 and a beta of 1.01. 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's 50 day moving average price is $74.86 and its 200-day moving average price is $81.27. ONEOK, Inc. has a one year low of $70.63 and a one year 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 the consensus estimate of $1.33 by $0.01. The firm had revenue of $8.21 billion for 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 company earned $1.33 EPS. 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 year.

ONEOK Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Friday, August 1st were given a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 5.7%. The ex-dividend date of this dividend was Friday, August 1st. ONEOK's payout ratio 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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