Sound Income Strategies LLC Acquires 50,394 Shares of ONEOK, Inc. $OKE

Key Points

• Sound Income Strategies LLC increased its holdings in ONEOK, Inc. by 42.3% in Q2, acquiring an additional 50,394 shares to total 169,624 shares, valued at approximately $13.85 million.
• ONEOK recently reported quarterly earnings of $1.34 per share, exceeding estimates, with revenue reaching $8.21 billion, above analyst projections of $7.20 billion.
• The company declared a quarterly dividend of $1.03, resulting in a 5.6% yield, with a payout ratio of 80.31% as of the last reporting period.

Sound Income Strategies LLC raised its position in ONEOK, Inc. (NYSE:OKE - Free Report) by 42.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 169,624 shares of the utilities provider's stock after buying an additional 50,394 shares during the quarter. Sound Income Strategies LLC's holdings in ONEOK were worth $13,846,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. First Pacific Financial acquired a new position in ONEOK in the 1st quarter valued at $34,000. Financial Network Wealth Advisors LLC grew its holdings in ONEOK by 2,466.7% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 385 shares of the utilities provider's stock valued at $38,000 after buying an additional 370 shares in the last quarter. MorganRosel Wealth Management LLC acquired a new position in ONEOK in the 1st quarter valued at $39,000. Financial Gravity Asset Management Inc. acquired a new position in ONEOK in the 1st quarter valued at $40,000. Finally, Rakuten Securities Inc. grew its holdings in ONEOK by 152.1% in the 1st quarter. Rakuten Securities Inc. now owns 421 shares of the utilities provider's stock valued at $42,000 after buying an additional 254 shares in the last quarter. 69.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on OKE. Royal Bank Of Canada decreased their price objective on ONEOK from $94.00 to $88.00 and set a "sector perform" rating on the stock in a report on Wednesday, August 13th. TD Cowen began coverage on ONEOK in a report on Monday, July 7th. They set a "hold" rating and a $91.00 target price on the stock. Mizuho reduced their target price on ONEOK from $87.00 to $82.00 and set a "neutral" rating on the stock in a report on Friday, August 29th. Barclays set a $83.00 target price on ONEOK in a report on Thursday, August 14th. Finally, Raymond James Financial reissued an "outperform" rating on shares of ONEOK in a report on Friday, August 1st. One 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. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $100.60.

ONEOK Stock Performance

NYSE:OKE opened at $73.86 on Monday. The stock's 50-day simple moving average is $75.53 and its 200 day simple moving average is $81.74. The firm 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. 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 twelve month low of $70.63 and a twelve month high of $118.07.

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 the consensus estimate of $1.33 by $0.01. The business had revenue of $8.21 billion for the quarter, compared to analyst estimates of $7.20 billion. ONEOK had a return on equity of 14.90% and a net margin of 11.06%.During the same period last year, the firm posted $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 firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Friday, August 1st were paid a $1.03 dividend. The ex-dividend date of this dividend was Friday, August 1st. This represents a $4.12 annualized dividend and a yield of 5.6%. ONEOK's dividend payout ratio (DPR) 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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