TriaGen Wealth Management LLC Takes Position in ONEOK, Inc. $OKE

Key Points

• TriaGen Wealth Management LLC has made a new investment of approximately $1.78 million in ONEOK, acquiring 17,900 shares during the first quarter.
• ONEOK reported $1.34 earnings per share for the most recent quarter, surpassing analyst estimates, with a total revenue of $8.21 billion.
• The company declared a quarterly dividend of $1.03 per share, reflecting an annualized dividend of $4.12 and a yield of 5.6%.

TriaGen Wealth Management LLC purchased a new stake in ONEOK, Inc. (NYSE:OKE - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 17,900 shares of the utilities provider's stock, valued at approximately $1,776,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. grew its position in shares of ONEOK by 7.2% during the 1st quarter. Vanguard Group Inc. now owns 75,196,969 shares of the utilities provider's stock worth $7,461,043,000 after purchasing an additional 5,076,705 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of ONEOK by 13.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 20,957,230 shares of the utilities provider's stock worth $2,079,376,000 after acquiring an additional 2,542,449 shares during the period. Invesco Ltd. lifted its holdings in shares of ONEOK by 25.1% during the 1st quarter. Invesco Ltd. now owns 8,339,939 shares of the utilities provider's stock worth $827,489,000 after acquiring an additional 1,674,706 shares during the period. Northern Trust Corp lifted its holdings in shares of ONEOK by 15.2% during the 4th quarter. Northern Trust Corp now owns 6,535,861 shares of the utilities provider's stock worth $656,200,000 after acquiring an additional 864,392 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of ONEOK by 43.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,904,119 shares of the utilities provider's stock worth $585,807,000 after acquiring an additional 1,788,433 shares during the period. Institutional investors and hedge funds own 69.13% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on OKE shares. Scotiabank set a $92.00 price target on shares of ONEOK and gave the stock a "sector outperform" rating in a report on Tuesday, July 15th. Barclays set a $83.00 price objective on shares of ONEOK in a research report on Thursday, August 14th. Raymond James Financial reiterated an "outperform" rating on shares of ONEOK in a research report on Friday, August 1st. Citigroup lowered their price objective on shares of ONEOK from $110.00 to $102.00 and set a "buy" rating for the company in a research report on Tuesday, May 6th. Finally, JPMorgan Chase & Co. upped their price objective on shares of ONEOK from $94.00 to $97.00 and gave the stock an "overweight" rating in a research report on Thursday, July 3rd. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $103.57.

ONEOK Trading Up 0.5%

Shares of NYSE:OKE traded up $0.3690 during trading on Tuesday, reaching $73.4090. The stock had a trading volume of 2,382,585 shares, compared to its average volume of 3,656,463. The firm's fifty day moving average is $79.88 and its 200 day moving average is $86.20. 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 52 week low of $72.18 and a 52 week high of $118.07. The stock has a market cap of $46.23 billion, a price-to-earnings ratio of 14.31, a P/E/G ratio of 1.73 and a beta of 0.99.

ONEOK (NYSE:OKE - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The utilities provider reported $1.34 EPS for the quarter, beating 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 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 posted $1.33 EPS. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. As a group, equities analysts forecast 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. Stockholders of record on Friday, August 1st were paid a $1.03 dividend. The ex-dividend date was Friday, August 1st. This represents a $4.12 annualized dividend and a dividend yield of 5.6%. ONEOK's payout ratio is currently 80.31%.

ONEOK Company 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.