Sowell Financial Services LLC Has $8.84 Million Holdings in ONEOK, Inc. $OKE

Key Points

• Sowell Financial Services LLC increased its stake in ONEOK, Inc. by 17.8%, owning a total of 108,266 shares worth approximately $8.84 million at the end of the last quarter.
• In recent analyst ratings, Mizuho and Morgan Stanley both adjusted their price targets for ONEOK, with Mizuho lowering it to $82.00 and Morgan Stanley to $110.00.
• ONEOK reported a quarterly dividend of $1.03 per share, reflecting a dividend yield of 5.8%, with an annual payout ratio of 80.31%.

Sowell Financial Services LLC boosted its stake in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 17.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 108,266 shares of the utilities provider's stock after acquiring an additional 16,385 shares during the quarter. Sowell Financial Services LLC's holdings in ONEOK were worth $8,838,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of OKE. First Pacific Financial acquired a new position in ONEOK during the first quarter worth $34,000. Vermillion Wealth Management Inc. acquired a new stake in ONEOK during the 4th quarter valued at $37,000. Financial Network Wealth Advisors LLC increased its holdings in ONEOK by 2,466.7% during the 1st 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 1st quarter valued at $39,000. Finally, Financial Gravity Asset Management Inc. acquired a new stake in ONEOK during the 1st quarter valued at $40,000. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Royal Bank Of Canada dropped their price target on ONEOK from $94.00 to $88.00 and set a "sector perform" rating for the company in a report on Wednesday, August 13th. JPMorgan Chase & Co. raised their price target on ONEOK from $94.00 to $97.00 and gave the company an "overweight" rating in a report on Thursday, July 3rd. Mizuho dropped their price target on ONEOK from $87.00 to $82.00 and set a "neutral" rating for the company in a report on Friday, August 29th. TD Cowen started coverage on ONEOK in a research report on Monday, July 7th. They issued a "hold" rating and a $91.00 price objective on the stock. Finally, Raymond James Financial reiterated an "outperform" rating on shares of ONEOK in a research report on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $100.60.

ONEOK Stock Up 0.2%

Shares of NYSE:OKE traded up $0.12 during midday trading on Monday, reaching $71.67. The company had a trading volume of 3,827,396 shares, compared to its average volume of 3,901,596. 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 business's 50 day moving average price is $76.34 and its 200 day moving average price is $82.40. The stock has a market cap of $45.13 billion, a PE ratio of 13.97, a P/E/G ratio of 1.76 and a beta of 1.04. ONEOK, Inc. has a 1-year low of $70.63 and a 1-year high of $118.07.

ONEOK (NYSE:OKE - Get Free Report) last released its earnings results on Monday, August 4th. The utilities provider reported $1.34 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.33 by $0.01. The business had revenue of $8.21 billion for the quarter, compared to the consensus estimate of $7.20 billion. ONEOK had a return on equity of 14.90% and a net margin of 11.06%.During the same quarter in the previous year, the business earned $1.33 earnings per share. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. Research analysts forecast 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. This represents a $4.12 dividend on an annualized basis and a yield of 5.7%. The ex-dividend date of this dividend 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.