ONEOK, Inc. $OKE Shares Purchased by D.A. Davidson & CO.

Key Points

• D.A. Davidson & CO. increased its stake in ONEOK, Inc. by 3.6%, totaling 163,865 shares, valued at approximately $13.4 million at the end of the last quarter.
• ONEOK's recent earnings report showed $1.34 EPS, slightly beating analysts' expectations, alongside $8.21 billion in revenue.
• The company announced a quarterly dividend of $1.03, representing an annualized dividend yield of 5.9%, with the ex-dividend date on November 3rd.

D.A. Davidson & CO. increased its position in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 3.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 163,865 shares of the utilities provider's stock after acquiring an additional 5,673 shares during the period. D.A. Davidson & CO.'s holdings in ONEOK were worth $13,376,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Morningstar Investment Management LLC lifted its stake in ONEOK by 18.2% during the 2nd quarter. Morningstar Investment Management LLC now owns 27,375 shares of the utilities provider's stock worth $2,235,000 after acquiring an additional 4,206 shares in the last quarter. Dark Forest Capital Management LP lifted its stake in ONEOK by 409.5% during the 1st quarter. Dark Forest Capital Management LP now owns 40,372 shares of the utilities provider's stock worth $4,006,000 after acquiring an additional 32,448 shares in the last quarter. Andrew Hill Investment Advisors Inc. acquired a new position in ONEOK during the 2nd quarter worth about $3,671,000. Banco Santander S.A. lifted its stake in ONEOK by 22.2% during the 1st quarter. Banco Santander S.A. now owns 26,824 shares of the utilities provider's stock worth $2,661,000 after acquiring an additional 4,880 shares in the last quarter. Finally, Amundi lifted its stake in ONEOK by 27.7% during the 1st quarter. Amundi now owns 5,242,524 shares of the utilities provider's stock worth $485,982,000 after acquiring an additional 1,136,928 shares in the last quarter. Institutional investors and hedge funds own 69.13% of the company's stock.

Analyst Upgrades and Downgrades

OKE has been the topic of several research reports. Barclays decreased their target price on ONEOK from $83.00 to $78.00 and set an "equal weight" rating on the stock in a research note on Thursday, October 9th. Royal Bank Of Canada cut their price target on ONEOK from $94.00 to $88.00 and set a "sector perform" rating on the stock in a report on Wednesday, August 13th. Scotiabank set a $92.00 price target on ONEOK and gave the stock a "sector outperform" rating in a report on Tuesday, July 15th. Raymond James Financial restated an "outperform" rating on shares of ONEOK in a report on Friday, August 1st. Finally, Mizuho cut their price target on ONEOK from $87.00 to $82.00 and set a "neutral" rating on the stock in a report on Friday, August 29th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $98.27.

ONEOK Stock Up 0.9%

Shares of NYSE OKE opened at $69.57 on Thursday. The stock has a market cap of $43.81 billion, a PE ratio of 13.56, a price-to-earnings-growth ratio of 1.69 and a beta of 1.01. The company has a quick ratio of 0.46, a current ratio of 0.59 and a debt-to-equity ratio of 1.35. ONEOK, Inc. has a 52-week low of $66.56 and a 52-week high of $118.07. The business has a 50-day moving average price of $72.60 and a 200 day moving average price of $78.57.

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

ONEOK Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Monday, November 3rd will be given a $1.03 dividend. The ex-dividend date of this dividend is Monday, November 3rd. This represents a $4.12 dividend on an annualized basis and a dividend yield of 5.9%. ONEOK's dividend payout ratio is 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.

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