Tectonic Advisors LLC Raises Position in ONEOK, Inc. $OKE

Key Points

• Tectonic Advisors LLC increased its holdings in ONEOK, Inc. by 19.5%, owning approximately 133,818 shares valued at about $10.92 million as of the latest SEC filing.
• ONEOK's quarterly earnings reported an EPS of $1.34, exceeding analysts' expectations of $1.33, and their revenue reached $8.21 billion against a forecast of $7.20 billion.
• The company declared a quarterly dividend of $1.03 per share, which translates to an annualized dividend of $4.12 and a yield of 5.7%.

Tectonic Advisors LLC raised its holdings in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 19.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 133,818 shares of the utilities provider's stock after acquiring an additional 21,790 shares during the quarter. Tectonic Advisors LLC's holdings in ONEOK were worth $10,923,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. First Pacific Financial purchased a new position in shares of ONEOK during the 1st quarter worth $34,000. Financial Network Wealth Advisors LLC raised its position in shares of 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 during the period. MorganRosel Wealth Management LLC bought a new stake in shares of ONEOK during the 1st quarter valued at $39,000. Financial Gravity Asset Management Inc. bought a new stake in shares of ONEOK during the 1st quarter valued at $40,000. Finally, Rakuten Securities Inc. raised its position in shares of ONEOK by 152.1% during the 1st quarter. Rakuten Securities Inc. now owns 421 shares of the utilities provider's stock valued at $42,000 after purchasing an additional 254 shares during the period. Hedge funds and other institutional investors own 69.13% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on OKE. Weiss Ratings restated a "hold (c+)" rating on shares of ONEOK in a research report on Wednesday. Morgan Stanley decreased their price objective on shares of 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 objective on shares of ONEOK in a research report on Thursday, August 14th. TD Cowen assumed coverage on shares of ONEOK in a report on Monday, July 7th. They issued a "hold" rating and a $91.00 price target on the stock. Finally, 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 report on Friday, August 29th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have issued a Hold rating to the company's stock. According to data from MarketBeat.com, ONEOK has a consensus rating of "Moderate Buy" and a consensus target price of $99.00.

ONEOK Stock Performance

Shares of NYSE:OKE opened at $72.41 on Thursday. ONEOK, Inc. has a 52 week low of $70.63 and a 52 week high of $118.07. 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 firm has a fifty day simple moving average of $74.09 and a two-hundred day simple moving average of $80.53. The stock has a market capitalization of $45.60 billion, a P/E ratio of 14.12, a PEG ratio of 1.78 and a beta of 1.01.

ONEOK (NYSE:OKE - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The utilities provider reported $1.34 EPS for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $7.20 billion. During the same period in the previous year, the company earned $1.33 EPS. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. On average, analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Friday, August 1st were given a $1.03 dividend. This represents a $4.12 annualized dividend 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.

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