Rafferty Asset Management LLC Has $12 Million Position in ONEOK, Inc. $OKE

Key Points

• Rafferty Asset Management LLC reduced its stake in ONEOK, Inc. by 10.2%, holding now 120,953 shares valued at approximately $12 million.
• ONEOK recently reported an earnings per share (EPS) of $1.34 for the quarter, surpassing analysts' expectations of $1.33, with a revenue of $8.21 billion.
• The company's quarterly dividend of $1.03 represents an annualized dividend yield of 5.5% and a payout ratio of 80.31%.

Rafferty Asset Management LLC reduced its holdings in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 10.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 120,953 shares of the utilities provider's stock after selling 13,795 shares during the period. Rafferty Asset Management LLC's holdings in ONEOK were worth $12,001,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Marcum Wealth LLC boosted its position in ONEOK by 1.1% in the first quarter. Marcum Wealth LLC now owns 10,250 shares of the utilities provider's stock valued at $1,017,000 after buying an additional 108 shares in the last quarter. West Paces Advisors Inc. boosted its position in ONEOK by 4.7% in the fourth quarter. West Paces Advisors Inc. now owns 2,527 shares of the utilities provider's stock valued at $254,000 after buying an additional 114 shares in the last quarter. Morey & Quinn Wealth Partners LLC boosted its position in ONEOK by 0.8% in the first quarter. Morey & Quinn Wealth Partners LLC now owns 15,722 shares of the utilities provider's stock valued at $1,560,000 after buying an additional 130 shares in the last quarter. Visionary Wealth Advisors boosted its position in ONEOK by 2.1% in the fourth quarter. Visionary Wealth Advisors now owns 6,320 shares of the utilities provider's stock valued at $635,000 after buying an additional 132 shares in the last quarter. Finally, Clearstead Trust LLC boosted its position in ONEOK by 5.0% in the first quarter. Clearstead Trust LLC now owns 2,792 shares of the utilities provider's stock valued at $277,000 after buying an additional 133 shares in the last quarter. 69.13% of the stock is currently owned by institutional investors and hedge funds.

ONEOK Stock Up 0.7%

NYSE:OKE traded up $0.51 on Monday, hitting $76.40. 2,652,473 shares of the company's stock were exchanged, compared to its average volume of 3,623,427. The firm has a 50-day moving average price of $78.71 and a 200-day moving average price of $84.85. 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, Inc. has a 52 week low of $72.18 and a 52 week high of $118.07. The company has a market cap of $48.12 billion, a P/E ratio of 14.89, a price-to-earnings-growth ratio of 1.82 and a beta of 1.04.

ONEOK (NYSE:OKE - Get Free Report) last issued its quarterly earnings results 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 firm had revenue of $8.21 billion for the quarter, compared to analysts' expectations of $7.20 billion. During the same period in the previous year, the firm posted $1.33 EPS. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. As a group, analysts expect that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Shareholders 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 annualized dividend and a yield of 5.4%. ONEOK's payout ratio is 80.31%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Citigroup reduced their price target on shares of ONEOK from $110.00 to $102.00 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. JPMorgan Chase & Co. boosted their price target on shares of ONEOK from $94.00 to $97.00 and gave the company an "overweight" rating in a research report on Thursday, July 3rd. Mizuho reduced their price target on shares of ONEOK from $87.00 to $82.00 and set a "neutral" rating on the stock in a research report on Friday. Barclays set a $83.00 target price on shares of ONEOK in a research note on Thursday, August 14th. Finally, Raymond James Financial reaffirmed an "outperform" rating on shares of ONEOK in a research note on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $100.60.

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.