WCG Wealth Advisors LLC Grows Stock Position in ONEOK, Inc. $OKE

Key Points

• WCG Wealth Advisors LLC increased its stake in ONEOK, Inc. by 65.0%, owning 81,916 shares valued at approximately $8.13 million as of the latest filing.
• ONEOK reported a quarterly EPS of $1.34, beating estimates, with revenues of $8.21 billion exceeding expectations.
• The company has announced a quarterly dividend of $1.03 per share, reflecting a dividend yield of 5.5% and a payout ratio of 80.31%.

WCG Wealth Advisors LLC grew its holdings in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 65.0% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 81,916 shares of the utilities provider's stock after purchasing an additional 32,261 shares during the quarter. WCG Wealth Advisors LLC's holdings in ONEOK were worth $8,128,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. 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 valued at $1,142,000 after purchasing an additional 1,180 shares during the last quarter. Capital Investment Advisors LLC grew its stake 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 valued at $28,774,000 after acquiring an additional 10,957 shares during the period. Kentucky Retirement Systems Insurance Trust Fund grew its stake 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 valued at $1,789,000 after acquiring an additional 10,728 shares during the period. Ensign Peak Advisors Inc grew its stake in shares of 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 acquiring an additional 19,199 shares during the period. Finally, Advisor Resource Council bought a new position in shares of ONEOK during the 1st quarter valued at approximately $511,000. Hedge funds and other institutional investors own 69.13% of the company's stock.

ONEOK Trading Up 1.0%

Shares of OKE opened at $74.7430 on Monday. 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, Inc. has a 1 year low of $72.18 and a 1 year high of $118.07. The company has a 50 day simple moving average of $79.34 and a two-hundred day simple moving average of $85.64. The firm has a market cap of $47.07 billion, a P/E ratio of 14.57, a price-to-earnings-growth ratio of 1.77 and a beta of 0.99.

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, beating analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $7.20 billion. During the same period last year, the firm posted $1.33 EPS. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. On average, equities analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The company also recently announced 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. This represents a $4.12 dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date was Friday, August 1st. ONEOK's dividend payout ratio is currently 80.31%.

Analysts Set New Price Targets

OKE has been the subject of a number of recent research reports. JPMorgan Chase & Co. boosted 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. TD Cowen initiated coverage on ONEOK in a research note on Monday, July 7th. They set a "hold" rating and a $91.00 price objective for the company. Royal Bank Of Canada cut their price objective 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. Citigroup cut their price objective on ONEOK from $110.00 to $102.00 and set a "buy" rating for the company in a research note on Tuesday, May 6th. Finally, Wells Fargo & Company cut their price objective on ONEOK from $102.00 to $93.00 and set an "equal weight" rating for the company in a research note on Thursday, May 1st. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target 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.

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