Trivium Point Advisory LLC Makes New $2.85 Million Investment in ONEOK, Inc. $OKE

Key Points

• Trivium Point Advisory LLC has made a new investment in ONEOK, Inc. valued at approximately $2.85 million, acquiring 34,955 shares in the second quarter.
• Several institutional investors have significantly increased their holdings of ONEOK, with a total of 69.13% of the stock currently owned by these entities.
• ONEOK recently reported earnings exceeding analysts' expectations, with a net revenue of $8.21 billion and a quarterly EPS of $1.34, slightly above the consensus estimate of $1.33.

Trivium Point Advisory LLC bought a new position in ONEOK, Inc. (NYSE:OKE - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm bought 34,955 shares of the utilities provider's stock, valued at approximately $2,853,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Merit Financial Group LLC increased its position in shares of ONEOK by 11.4% during the 1st quarter. Merit Financial Group LLC now owns 11,505 shares of the utilities provider's stock worth $1,142,000 after purchasing an additional 1,180 shares during the last quarter. Dark Forest Capital Management LP increased its position in shares of ONEOK by 409.5% during the 1st quarter. Dark Forest Capital Management LP now owns 40,372 shares of the utilities provider's stock worth $4,006,000 after purchasing an additional 32,448 shares during the last quarter. Capital Investment Advisors LLC increased its position in shares of ONEOK by 3.9% during the 1st quarter. Capital Investment Advisors LLC now owns 289,997 shares of the utilities provider's stock worth $28,774,000 after purchasing an additional 10,957 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund increased its position in shares of ONEOK by 146.9% during the 1st quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 18,033 shares of the utilities provider's stock worth $1,789,000 after purchasing an additional 10,728 shares during the last quarter. Finally, Advisor Resource Council acquired a new stake in shares of ONEOK during the 1st quarter worth about $511,000. 69.13% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Scotiabank set a $92.00 price objective on ONEOK and gave the stock a "sector outperform" rating in a research report on Tuesday, July 15th. Raymond James Financial reissued an "outperform" rating on shares of ONEOK in a research report on Friday, August 1st. Morgan Stanley cut their price objective on ONEOK from $122.00 to $110.00 and set an "overweight" rating for the company in a research report on Tuesday, August 26th. Royal Bank Of Canada dropped their target price on ONEOK from $94.00 to $88.00 and set a "sector perform" rating for the company in a research report on Wednesday, August 13th. Finally, TD Cowen assumed coverage on ONEOK in a research report on Monday, July 7th. They issued a "hold" rating and a $91.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, ONEOK currently has an average rating of "Moderate Buy" and a consensus target price of $100.60.

ONEOK Trading Down 1.2%

NYSE OKE opened at $73.01 on Tuesday. 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 52 week low of $70.63 and a 52 week high of $118.07. The stock has a market capitalization of $45.98 billion, a PE ratio of 14.23, a price-to-earnings-growth ratio of 1.81 and a beta of 1.04. The firm has a 50 day moving average of $75.38 and a two-hundred day moving average of $81.57.

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

ONEOK Announces Dividend

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

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