San Luis Wealth Advisors LLC Purchases Shares of 15,505 ONEOK, Inc. $OKE

Key Points

• San Luis Wealth Advisors LLC acquired 15,505 shares of ONEOK, Inc. valued at approximately $1,266,000 in the second quarter.
• ONEOK reported a quarterly earnings earnings per share of $1.34, surpassing analysts' expectations and generating revenue of $8.21 billion.
• The company declared a quarterly dividend of $1.03 per share, yielding 5.6%, with a payout ratio of 80.31%.

San Luis Wealth Advisors LLC bought a new position in shares of ONEOK, Inc. (NYSE:OKE - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 15,505 shares of the utilities provider's stock, valued at approximately $1,266,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. First Pacific Financial acquired a new position in shares of ONEOK in the first quarter worth about $34,000. Financial Network Wealth Advisors LLC raised its position 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 bought a new stake in shares of ONEOK in the 1st quarter valued at about $39,000. Financial Gravity Asset Management Inc. bought a new stake in shares of ONEOK during the first quarter valued at approximately $40,000. Finally, Rakuten Securities Inc. increased its stake in shares of ONEOK by 152.1% during the 1st quarter. Rakuten Securities Inc. now owns 421 shares of the utilities provider's stock worth $42,000 after purchasing an additional 254 shares during the last quarter. Institutional investors and hedge funds own 69.13% of the company's stock.

ONEOK Stock Up 0.6%

Shares of ONEOK stock opened at $73.86 on Friday. ONEOK, Inc. has a 52-week low of $70.63 and a 52-week high of $118.07. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.46 and a current ratio of 0.59. The company has a 50-day simple moving average of $75.53 and a two-hundred day simple moving average of $81.82. The stock has a market capitalization of $46.51 billion, a PE ratio of 14.40, a price-to-earnings-growth ratio of 1.81 and a beta of 1.04.

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 for the quarter, beating analysts' consensus estimates 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 quarter in the previous year, the company earned $1.33 earnings per share. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. On average, analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Friday, August 1st were issued a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date was Friday, August 1st. ONEOK's dividend payout ratio (DPR) is presently 80.31%.

Analyst Ratings Changes

A number of brokerages recently issued reports on OKE. Raymond James Financial reiterated an "outperform" rating on shares of ONEOK in a research note on Friday, August 1st. TD Cowen initiated coverage on ONEOK in a research note on Monday, July 7th. They set a "hold" rating and a $91.00 price objective on the stock. Morgan Stanley cut their target price on ONEOK from $122.00 to $110.00 and set an "overweight" rating on the stock in a research report on Tuesday, August 26th. Barclays set a $83.00 price target on ONEOK in a research note on Thursday, August 14th. Finally, JPMorgan Chase & Co. increased their target price 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. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $100.60.

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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