Pure Financial Advisors LLC Acquires Shares of 6,755 ONEOK, Inc. $OKE

Key Points

• Pure Financial Advisors LLC acquired 6,755 shares of ONEOK, Inc. valued at approximately $551,000 during the second quarter, indicating growing institutional interest in the utilities sector.
• Analysts have set a revised consensus target price of $99.00 for ONEOK, with recommendations including one Strong Buy and nine Buy ratings.
• ONEOK reported a quarterly earnings per share of $1.34, surpassing the estimate of $1.33, with revenues reaching $8.21 billion against analyst expectations of $7.20 billion.

Pure Financial Advisors LLC acquired a new stake in shares of ONEOK, Inc. (NYSE:OKE - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 6,755 shares of the utilities provider's stock, valued at approximately $551,000.

A number of other institutional investors also recently added to or reduced their stakes in OKE. First Pacific Financial acquired a new stake in ONEOK during the first quarter valued at approximately $34,000. Financial Network Wealth Advisors LLC boosted its holdings in ONEOK by 2,466.7% during the first quarter. Financial Network Wealth Advisors LLC now owns 385 shares of the utilities provider's stock valued at $38,000 after purchasing an additional 370 shares in the last quarter. MorganRosel Wealth Management LLC acquired a new stake in ONEOK during the first quarter valued at approximately $39,000. Financial Gravity Asset Management Inc. acquired a new stake in ONEOK during the first quarter valued at approximately $40,000. Finally, Rakuten Securities Inc. boosted its holdings in ONEOK by 152.1% during the first quarter. Rakuten Securities Inc. now owns 421 shares of the utilities provider's stock valued at $42,000 after purchasing an additional 254 shares in the last quarter. 69.13% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Morgan Stanley reduced their target price on ONEOK from $122.00 to $110.00 and set an "overweight" rating on the stock in a report on Tuesday, August 26th. Scotiabank set a $92.00 target price on ONEOK and gave the stock a "sector outperform" rating in a report on Tuesday, July 15th. Royal Bank Of Canada reduced their target price on ONEOK from $94.00 to $88.00 and set a "sector perform" rating on the stock in a report on Wednesday, August 13th. Weiss Ratings reissued a "hold (c+)" rating on shares of ONEOK in a report on Saturday, September 27th. Finally, TD Cowen assumed coverage on ONEOK in a report on Monday, July 7th. They issued a "hold" rating and a $91.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, ONEOK presently has an average rating of "Moderate Buy" and a consensus target price of $99.00.

ONEOK Stock Performance

OKE stock opened at $72.88 on Friday. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.59 and a quick ratio of 0.46. The company has a 50 day moving average price of $74.69 and a 200 day moving average price of $81.10. ONEOK, Inc. has a fifty-two week low of $70.63 and a fifty-two week high of $118.07. The stock has a market capitalization of $45.89 billion, a PE ratio of 14.21, a price-to-earnings-growth ratio of 1.78 and a beta of 1.01.

ONEOK (NYSE:OKE - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The utilities provider reported $1.34 earnings per share for the quarter, topping 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 during the quarter, compared to analysts' expectations of $7.20 billion. During the same quarter in the previous year, the company posted $1.33 EPS. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. Analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Dividend Announcement

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