Vident Advisory LLC Boosts Stake in ONEOK, Inc. $OKE

Key Points

• Vident Advisory LLC increased its holdings in ONEOK, Inc. by 36.7% during the 1st quarter, acquiring an additional 28,660 shares, bringing the total to 106,751 shares worth approximately $10.6 million.
• ONEOK recently announced a quarterly dividend of $1.03, translating to an annual yield of 5.4%, with a payout ratio of 80.31%.
• Analysts have mixed opinions on the stock, with a majority rating it as a "Moderate Buy" and an average price target of $100.60.

Vident Advisory LLC boosted its holdings in ONEOK, Inc. (NYSE:OKE - Free Report) by 36.7% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 106,751 shares of the utilities provider's stock after purchasing an additional 28,660 shares during the quarter. Vident Advisory LLC's holdings in ONEOK were worth $10,592,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Merit Financial Group LLC grew its holdings in ONEOK by 11.4% in the first quarter. Merit Financial Group LLC now owns 11,505 shares of the utilities provider's stock worth $1,142,000 after purchasing an additional 1,180 shares during the period. Capital Investment Advisors LLC grew its holdings in shares of ONEOK by 3.9% during the first quarter. Capital Investment Advisors LLC now owns 289,997 shares of the utilities provider's stock valued at $28,774,000 after buying an additional 10,957 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund grew its holdings in shares of 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 during the last quarter. Ensign Peak Advisors Inc grew its holdings in shares of ONEOK by 6.0% during the fourth quarter. Ensign Peak Advisors Inc now owns 340,480 shares of the utilities provider's stock valued at $34,184,000 after buying an additional 19,199 shares during the last quarter. Finally, Advisor Resource Council purchased a new stake in shares of ONEOK during the first quarter valued at approximately $511,000. Hedge funds and other institutional investors own 69.13% of the company's stock.

Wall Street Analyst Weigh In

OKE has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. increased their price target on shares of ONEOK from $94.00 to $97.00 and gave the company an "overweight" rating in a report on Thursday, July 3rd. Barclays set a $83.00 price objective on shares of ONEOK in a research report on Thursday, August 14th. Morgan Stanley lowered their price objective 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. Raymond James Financial restated an "outperform" rating on shares of ONEOK in a research report on Friday, August 1st. Finally, Scotiabank set a $92.00 price objective on shares of ONEOK and gave the company a "sector outperform" rating in a research report on Tuesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $100.60.

ONEOK Price Performance

Shares of ONEOK stock traded up $0.31 during trading hours on Thursday, reaching $74.18. The company's stock had a trading volume of 765,895 shares, compared to its average volume of 3,903,283. The stock has a market cap of $46.71 billion, a P/E ratio of 14.46, a P/E/G ratio of 1.82 and a beta of 1.04. ONEOK, Inc. has a one year low of $72.18 and a one year high of $118.07. The firm has a 50 day moving average price of $78.39 and a 200-day moving average price of $84.56. 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 (NYSE:OKE - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The utilities provider reported $1.34 earnings per share (EPS) 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 analysts' expectations of $7.20 billion. ONEOK had a net margin of 11.06% and a return on equity of 14.90%. During the same period 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, analysts predict that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Investors 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 5.6%. ONEOK's dividend payout ratio is presently 80.31%.

ONEOK Company 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.