ONEOK, Inc. $OKE Shares Bought by Vestmark Advisory Solutions Inc.

Key Points

• Vestmark Advisory Solutions Inc. significantly increased its stake in ONEOK, Inc. by 95.5%, owning 18,302 shares valued at approximately $1.8 million as of the latest SEC filing.
• Wall Street analysts generally rate ONEOK as a "Moderate Buy," with price targets ranging from $83.00 to $102.00, reflecting a cautious outlook compared to previous values.
• ONEOK recently announced a quarterly dividend of $1.03 per share, providing an annualized yield of 5.6%, with a payout ratio of 80.31%.

Vestmark Advisory Solutions Inc. grew its stake in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 95.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,302 shares of the utilities provider's stock after buying an additional 8,940 shares during the period. Vestmark Advisory Solutions Inc.'s holdings in ONEOK were worth $1,816,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Merit Financial Group LLC raised its holdings 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 acquiring an additional 1,180 shares in the last quarter. Capital Investment Advisors LLC raised its holdings in ONEOK by 3.9% during the 1st quarter. Capital Investment Advisors LLC now owns 289,997 shares of the utilities provider's stock valued at $28,774,000 after buying an additional 10,957 shares during the period. Kentucky Retirement Systems Insurance Trust Fund raised its holdings in 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 valued at $1,789,000 after buying an additional 10,728 shares during the period. Ensign Peak Advisors Inc raised its holdings in ONEOK by 6.0% during the 4th quarter. Ensign Peak Advisors Inc now owns 340,480 shares of the utilities provider's stock valued at $34,184,000 after buying an additional 19,199 shares during the period. Finally, Advisor Resource Council purchased a new stake in ONEOK during the 1st quarter valued at $511,000. 69.13% of the stock is owned by hedge funds and other institutional investors.

ONEOK Stock Performance

Shares of NYSE:OKE traded up $0.3690 during trading on Tuesday, hitting $73.4090. The stock had a trading volume of 2,382,585 shares, compared to its average volume of 3,955,031. ONEOK, Inc. has a 12-month low of $72.18 and a 12-month high of $118.07. The stock has a market capitalization of $46.23 billion, a price-to-earnings ratio of 14.31, a price-to-earnings-growth ratio of 1.75 and a beta of 0.99. The company has a quick ratio of 0.46, a current ratio of 0.59 and a debt-to-equity ratio of 1.35. The stock has a 50-day simple moving average of $80.04 and a two-hundred day simple moving average of $86.29.

ONEOK (NYSE:OKE - Get Free Report) last announced its quarterly earnings data 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 return on equity of 14.90% and a net margin of 11.06%.The firm had revenue of $8.21 billion during the quarter, compared to analysts' expectations of $7.20 billion. During the same period last year, the business posted $1.33 earnings per share. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. On average, equities research analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Friday, August 1st were given a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 5.6%. The ex-dividend date was Friday, August 1st. ONEOK's dividend payout ratio (DPR) is currently 80.31%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on OKE shares. Barclays set a $83.00 price target on ONEOK in a report on Thursday, August 14th. JPMorgan Chase & Co. increased their price target on ONEOK from $94.00 to $97.00 and gave the company an "overweight" rating in a report on Thursday, July 3rd. Stifel Nicolaus cut their price objective on ONEOK from $110.00 to $107.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Citigroup cut their price objective on ONEOK from $110.00 to $102.00 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. Finally, TD Cowen started coverage on ONEOK in a research report on Monday, July 7th. They issued a "hold" rating and a $91.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat, ONEOK currently has an average rating of "Moderate Buy" and a consensus target price of $103.57.

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.