Talon Private Wealth LLC Grows Position in ONEOK, Inc. $OKE

Key Points

• Talon Private Wealth LLC increased its stake in ONEOK, Inc. by 322.1% during the first quarter, holding 27,615 shares valued at $2.74 million by the end of the period.
• ONEOK recently reported a quarterly EPS of $1.34, exceeding analysts' expectations, with revenues of $8.21 billion compared to the consensus estimate of $7.20 billion.
• The company announced a quarterly dividend of $1.03, yielding 5.7%, with a dividend payout ratio of 80.31%.

Talon Private Wealth LLC lifted its position in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 322.1% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 27,615 shares of the utilities provider's stock after buying an additional 21,073 shares during the quarter. Talon Private Wealth LLC's holdings in ONEOK were worth $2,740,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of OKE. Vanguard Group Inc. raised its stake in ONEOK by 7.2% in the first quarter. Vanguard Group Inc. now owns 75,196,969 shares of the utilities provider's stock valued at $7,461,043,000 after purchasing an additional 5,076,705 shares in the last quarter. Nuveen LLC acquired a new stake in shares of ONEOK in the 1st quarter valued at approximately $440,535,000. Boston Partners acquired a new stake in shares of ONEOK in the 1st quarter valued at approximately $353,596,000. Charles Schwab Investment Management Inc. grew its holdings in shares of ONEOK by 13.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 20,957,230 shares of the utilities provider's stock worth $2,079,376,000 after purchasing an additional 2,542,449 shares during the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of ONEOK by 51.9% during the first quarter. Wellington Management Group LLP now owns 6,388,987 shares of the utilities provider's stock worth $633,915,000 after purchasing an additional 2,182,081 shares during the last quarter. Institutional investors and hedge funds own 69.13% of the company's stock.

Analysts Set New Price Targets

Several analysts recently commented on the company. Scotiabank set a $92.00 target price on ONEOK and gave the company a "sector outperform" rating in a report on Tuesday, July 15th. Raymond James Financial reiterated an "outperform" rating on shares of ONEOK in a report on Friday, August 1st. Barclays set a $83.00 target price on ONEOK in a report on Thursday, August 14th. JPMorgan Chase & Co. upped their target price on ONEOK from $94.00 to $97.00 and gave the company an "overweight" rating in a report on Thursday, July 3rd. Finally, TD Cowen began coverage on ONEOK in a research note on Monday, July 7th. They issued a "hold" rating and a $91.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat, ONEOK presently has a consensus rating of "Moderate Buy" and a consensus target price of $100.60.

ONEOK Price Performance

Shares of NYSE:OKE remained flat at $73.35 during trading on Thursday. The stock had a trading volume of 2,399,034 shares, compared to its average volume of 3,906,101. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.46 and a current ratio of 0.59. ONEOK, Inc. has a one year low of $70.63 and a one year high of $118.07. The stock has a fifty day moving average price of $77.52 and a two-hundred day moving average price of $83.67. The stock has a market capitalization of $46.19 billion, a price-to-earnings ratio of 14.30, a price-to-earnings-growth ratio of 1.71 and a beta of 1.04.

ONEOK (NYSE:OKE - Get Free Report) last issued its earnings results on Monday, August 4th. The utilities provider reported $1.34 earnings per share for the quarter, topping analysts' consensus estimates of $1.33 by $0.01. ONEOK had a return on equity of 14.90% and a net margin of 11.06%.The company had revenue of $8.21 billion for the quarter, compared to analyst estimates of $7.20 billion. During the same period in the prior year, the firm earned $1.33 earnings per share. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. Sell-side analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Announces Dividend

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