U.S. Capital Wealth Advisors LLC Increases Holdings in ONEOK, Inc. $OKE

Key Points

• U.S. Capital Wealth Advisors LLC increased its stake in ONEOK, Inc. by 14.8%, owning 116,721 shares, valued at approximately $9.53 million as of the end of the second quarter.
• Analyst ratings for ONEOK are mixed, with Royal Bank of Canada and Mizuho lowering their price targets, while JPMorgan Chase raised its target, reflecting varied market sentiment.
• ONEOK recently announced a quarterly dividend of $1.03 per share, yielding 5.8%, with a payout ratio of 80.31%.

U.S. Capital Wealth Advisors LLC raised its stake in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 14.8% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 116,721 shares of the utilities provider's stock after buying an additional 15,016 shares during the period. U.S. Capital Wealth Advisors LLC's holdings in ONEOK were worth $9,528,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. First Pacific Financial purchased a new stake in shares of ONEOK in the first quarter valued at approximately $34,000. Vermillion Wealth Management Inc. purchased a new stake in ONEOK during the 4th quarter valued at about $37,000. Financial Network Wealth Advisors LLC grew its position in shares of ONEOK by 2,466.7% in the first 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 in the last quarter. MorganRosel Wealth Management LLC purchased a new stake in ONEOK in the 1st quarter valued at $39,000. Finally, Financial Gravity Asset Management Inc. purchased a new stake in shares of ONEOK in the first quarter valued at about $40,000. 69.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on OKE. Royal Bank Of Canada dropped their price target on shares of ONEOK from $94.00 to $88.00 and set a "sector perform" rating for the company in a research note on Wednesday, August 13th. Mizuho lowered their target price on shares of ONEOK from $87.00 to $82.00 and set a "neutral" rating for the company in a research note on Friday, August 29th. Raymond James Financial restated an "outperform" rating on shares of ONEOK in a research report on Friday, August 1st. Barclays set a $83.00 price objective on shares of ONEOK in a research note on Thursday, August 14th. Finally, JPMorgan Chase & Co. lifted their price objective on ONEOK from $94.00 to $97.00 and gave the company an "overweight" rating in a research note on Thursday, July 3rd. One research 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 stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $100.60.

ONEOK Price Performance

ONEOK stock opened at $71.63 on Monday. ONEOK, Inc. has a 1 year low of $70.63 and a 1 year high of $118.07. The firm has a 50 day moving average price of $76.34 and a 200 day moving average price of $82.40. The company has a market cap of $45.11 billion, a price-to-earnings ratio of 13.96, a PEG ratio of 1.76 and a beta of 1.04. 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 (NYSE:OKE - Get Free Report) last issued its earnings results on Monday, August 4th. The utilities provider reported $1.34 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.33 by $0.01. ONEOK had a return on equity of 14.90% and a net margin of 11.06%.The business 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 earned $1.33 EPS. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. Sell-side analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Friday, August 1st were issued a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 5.8%. The ex-dividend date of this dividend was Friday, August 1st. ONEOK's dividend payout ratio (DPR) is currently 80.31%.

ONEOK 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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