West Tower Group LLC Makes New $408,000 Investment in ONEOK, Inc. $OKE

Key Points

• West Tower Group LLC invested $408,000 in ONEOK, acquiring 5,000 shares in the second quarter, according to their Form 13F filing.
• ONEOK reported $1.34 earnings per share (EPS) for the most recent quarter, surpassing the analyst estimate of $1.33.
• The company declared a quarterly dividend of $1.03 per share, resulting in a yield of 6.1%, to be paid on November 14th.

West Tower Group LLC bought a new position in ONEOK, Inc. (NYSE:OKE - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 5,000 shares of the utilities provider's stock, valued at approximately $408,000.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of ONEOK by 7.2% in the first quarter. Vanguard Group Inc. now owns 75,196,969 shares of the utilities provider's stock valued at $7,461,043,000 after purchasing an additional 5,076,705 shares in the last quarter. Nuveen LLC purchased a new position in shares of ONEOK in the first quarter valued at $440,535,000. Boston Partners purchased a new position in shares of ONEOK in the first quarter valued at $353,596,000. Charles Schwab Investment Management Inc. grew its position in shares of 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 valued at $2,079,376,000 after purchasing an additional 2,542,449 shares in the last quarter. Finally, Wellington Management Group LLP grew its position in shares of ONEOK by 51.9% in the first quarter. Wellington Management Group LLP now owns 6,388,987 shares of the utilities provider's stock valued at $633,915,000 after purchasing an additional 2,182,081 shares in the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

ONEOK Price Performance

NYSE:OKE opened at $68.08 on Monday. The firm has a market capitalization of $42.88 billion, a price-to-earnings ratio of 13.27, a P/E/G ratio of 1.67 and a beta of 1.01. ONEOK, Inc. has a 52-week low of $66.56 and a 52-week high of $118.07. The stock has a fifty day moving average of $72.92 and a 200 day moving average of $78.78. 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 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 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 analyst estimates of $7.20 billion. During the same quarter 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. On average, research analysts expect that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Monday, November 3rd will be paid 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 yield of 6.1%. ONEOK's payout ratio is 80.31%.

Analyst Ratings Changes

OKE has been the subject of several recent research reports. Weiss Ratings reiterated a "hold (c+)" rating on shares of ONEOK in a research report on Wednesday, October 8th. TD Cowen began coverage on ONEOK in a research report on Monday, July 7th. They issued a "hold" rating and a $91.00 price target for the company. Scotiabank set a $92.00 price objective on ONEOK and gave the company a "sector outperform" rating in a research note on Tuesday, July 15th. Raymond James Financial reissued an "outperform" rating on shares of ONEOK in a research note on Friday, August 1st. 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 investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $98.27.

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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