Turtle Creek Wealth Advisors LLC Has $1.48 Million Stock Position in ONEOK, Inc. $OKE

Key Points

• Turtle Creek Wealth Advisors LLC significantly increased its stake in ONEOK, Inc. by 37.7%, now holding shares worth approximately $1.48 million.
• ONEOK has received various ratings from analysts, including a consensus target price of $98.69, reflecting a mostly positive outlook with several "Buy" ratings.
• The company recently declared a quarterly dividend of $1.03 per share, yielding 6.0%, which underscores its commitment to returning value to shareholders.

Turtle Creek Wealth Advisors LLC raised its holdings in ONEOK, Inc. (NYSE:OKE - Free Report) by 37.7% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 18,078 shares of the utilities provider's stock after buying an additional 4,953 shares during the quarter. Turtle Creek Wealth Advisors LLC's holdings in ONEOK were worth $1,476,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Presima Securities ULC increased its stake in shares of ONEOK by 1.4% in the 1st quarter. Presima Securities ULC now owns 9,477 shares of the utilities provider's stock valued at $940,000 after buying an additional 127 shares during the period. Clearstead Trust LLC grew its stake in ONEOK by 5.0% in the first quarter. Clearstead Trust LLC now owns 2,792 shares of the utilities provider's stock valued at $277,000 after acquiring an additional 133 shares during the period. BankPlus Wealth Management LLC grew its stake in ONEOK by 2.8% in the first quarter. BankPlus Wealth Management LLC now owns 4,884 shares of the utilities provider's stock valued at $485,000 after acquiring an additional 134 shares during the period. Capital Investment Advisory Services LLC grew its stake in ONEOK by 4.5% in the first quarter. Capital Investment Advisory Services LLC now owns 3,132 shares of the utilities provider's stock valued at $311,000 after acquiring an additional 134 shares during the period. Finally, Empowered Funds LLC grew its stake in ONEOK by 0.8% in the first quarter. Empowered Funds LLC now owns 17,957 shares of the utilities provider's stock valued at $1,782,000 after acquiring an additional 137 shares during the period. Institutional investors and hedge funds own 69.13% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. TD Cowen assumed coverage on ONEOK in a research note on Monday, July 7th. They issued a "hold" rating and a $91.00 target price for the company. Raymond James Financial reissued an "outperform" rating on shares of ONEOK in a research note on Friday, August 1st. Barclays decreased their target price on ONEOK from $83.00 to $78.00 and set an "equal weight" rating for the company in a research note on Thursday, October 9th. Mizuho decreased their target price on ONEOK from $87.00 to $82.00 and set a "neutral" rating for the company in a research note on Friday, August 29th. Finally, Royal Bank Of Canada decreased their target price on ONEOK from $94.00 to $88.00 and set a "sector perform" rating for the company in a research note on Wednesday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, ONEOK has an average rating of "Moderate Buy" and a consensus target price of $98.69.

ONEOK Stock Performance

Shares of ONEOK stock opened at $68.89 on Thursday. The firm has a market cap of $43.38 billion, a price-to-earnings ratio of 13.43, a price-to-earnings-growth ratio of 1.70 and a beta of 1.01. The stock's 50-day moving average is $73.21 and its 200-day moving average is $79.46. ONEOK, Inc. has a one year low of $68.25 and a one year high of $118.07. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.59 and a quick ratio of 0.46.

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

ONEOK Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Monday, November 3rd will be given a dividend of $1.03 per share. The ex-dividend date of this dividend is Monday, November 3rd. This represents a $4.12 annualized dividend and a dividend yield of 6.0%. 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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