Tyche Wealth Partners LLC Boosts Position in ONEOK, Inc. $OKE

Key Points

• Tyche Wealth Partners LLC increased its investment in ONEOK, Inc. by 167.5% during the second quarter, bringing its total holdings to 14,135 shares valued at approximately $1,154,000.
• Institutional ownership of ONEOK stands at 69.13%, with firms like Vanguard Group and Wellington Management significantly increasing their stakes in the company.
• ONEOK recently declared a quarterly dividend of $1.03 per share, amounting to an annualized dividend of $4.12 and a yield of 5.7%.

Tyche Wealth Partners LLC lifted its position in ONEOK, Inc. (NYSE:OKE - Free Report) by 167.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,135 shares of the utilities provider's stock after purchasing an additional 8,850 shares during the quarter. Tyche Wealth Partners LLC's holdings in ONEOK were worth $1,154,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of ONEOK by 7.2% in the 1st quarter. Vanguard Group Inc. now owns 75,196,969 shares of the utilities provider's stock valued at $7,461,043,000 after buying an additional 5,076,705 shares during the period. Nuveen LLC purchased a new stake in shares of ONEOK during the 1st quarter valued at approximately $440,535,000. Boston Partners acquired a new position in ONEOK in the first quarter valued at approximately $353,596,000. Charles Schwab Investment Management Inc. grew its position in ONEOK by 13.8% in 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 acquiring an additional 2,542,449 shares during the period. Finally, Wellington Management Group LLP grew its position in ONEOK by 51.9% in the first quarter. Wellington Management Group LLP now owns 6,388,987 shares of the utilities provider's stock worth $633,915,000 after acquiring an additional 2,182,081 shares during the period. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. 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 on the stock. Mizuho cut their price objective on ONEOK from $87.00 to $82.00 and set a "neutral" rating for the company in a research report on Friday, August 29th. Royal Bank Of Canada decreased their target price on shares of ONEOK from $94.00 to $88.00 and set a "sector perform" rating on the stock in a research report on Wednesday, August 13th. JPMorgan Chase & Co. increased their target price on shares of ONEOK from $94.00 to $97.00 and gave the stock an "overweight" rating in a research note on Thursday, July 3rd. Finally, Raymond James Financial reiterated an "outperform" rating on shares of ONEOK in a research report on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, ONEOK has an average rating of "Moderate Buy" and a consensus target price of $99.00.

ONEOK Stock Performance

Shares of ONEOK stock opened at $72.72 on Tuesday. The stock has a market capitalization of $45.80 billion, a price-to-earnings ratio of 14.18, a price-to-earnings-growth ratio of 1.79 and a beta of 1.01. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.59 and a quick ratio of 0.46. The business has a 50-day moving average of $74.50 and a 200 day moving average of $80.64. ONEOK, Inc. has a 12 month low of $70.63 and a 12 month high of $118.07.

ONEOK (NYSE:OKE - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The utilities provider reported $1.34 earnings per share (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 business had revenue of $8.21 billion for the quarter, compared to analysts' expectations of $7.20 billion. During the same quarter in the prior year, the company earned $1.33 earnings per share. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. As a group, sell-side analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Friday, August 1st were given a dividend of $1.03 per share. The ex-dividend date of this dividend was Friday, August 1st. This represents a $4.12 dividend on an annualized basis and a dividend yield of 5.7%. ONEOK's dividend 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.

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