Quantum Financial Planning Services Inc. Acquires Shares of 6,200 ONEOK, Inc. $OKE

Key Points

• Quantum Financial Planning Services Inc. has acquired 6,200 shares of ONEOK, Inc. valued at approximately $506,000, positioning it as the fund's 19th biggest holding.
• Several institutional investors, including Vanguard Group Inc. and Wellington Management Group LLP, have recently increased their stakes in ONEOK, leading to 69.13% of the stock being owned by institutional investors.
• ONEOK reported quarterly earnings exceeding expectations, with an EPS of $1.34, and announced a quarterly dividend of $1.03, indicating a strong commitment to returning value to shareholders.

Quantum Financial Planning Services Inc. acquired a new stake in ONEOK, Inc. (NYSE:OKE - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 6,200 shares of the utilities provider's stock, valued at approximately $506,000. ONEOK accounts for approximately 0.2% of Quantum Financial Planning Services Inc.'s holdings, making the stock its 19th biggest holding.

Several other institutional investors also recently bought and sold shares of OKE. Vanguard Group Inc. increased its stake in ONEOK by 7.2% in the 1st quarter. Vanguard Group Inc. now owns 75,196,969 shares of the utilities provider's stock valued at $7,461,043,000 after buying an additional 5,076,705 shares during the period. Nuveen LLC acquired a new position in ONEOK in the 1st quarter valued at $440,535,000. Boston Partners acquired a new position in ONEOK in the 1st quarter valued at $353,596,000. Charles Schwab Investment Management Inc. increased its stake in ONEOK by 13.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 20,957,230 shares of the utilities provider's stock valued at $2,079,376,000 after buying an additional 2,542,449 shares during the period. Finally, Wellington Management Group LLP increased its stake in ONEOK by 51.9% in the 1st quarter. Wellington Management Group LLP now owns 6,388,987 shares of the utilities provider's stock valued at $633,915,000 after buying an additional 2,182,081 shares during the period. 69.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have commented on OKE. Royal Bank Of Canada decreased their target price on shares of ONEOK from $94.00 to $88.00 and set a "sector perform" rating on the stock in a research report on Wednesday, August 13th. Raymond James Financial restated an "outperform" rating on shares of ONEOK in a research report on Friday, August 1st. 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 report on Friday, August 29th. Weiss Ratings restated a "hold (c+)" rating on shares of ONEOK in a research report on Wednesday. Finally, Morgan Stanley decreased their target price 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. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $98.69.

ONEOK Price Performance

ONEOK stock opened at $69.22 on Friday. ONEOK, Inc. has a 52 week low of $69.08 and a 52 week high of $118.07. The company has a quick ratio of 0.46, a current ratio of 0.59 and a debt-to-equity ratio of 1.35. The firm's 50-day simple moving average is $73.67 and its 200 day simple moving average is $79.94. The firm has a market capitalization of $43.59 billion, a PE ratio of 13.49, a P/E/G ratio of 1.70 and a beta of 1.01.

ONEOK (NYSE:OKE - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The utilities provider reported $1.34 EPS 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 business had revenue of $8.21 billion for the quarter, compared to analyst estimates of $7.20 billion. During the same period in the previous year, the firm earned $1.33 EPS. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. On average, equities research analysts predict that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Dividend Announcement

The firm 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. The ex-dividend date was Friday, August 1st. This represents a $4.12 annualized dividend and a dividend yield of 6.0%. ONEOK's payout ratio is currently 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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