Advisory Alpha LLC Purchases 700 Shares of ONEOK, Inc. $OKE

Advisory Alpha LLC grew its position in ONEOK, Inc. (NYSE:OKE) by 14.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,603 shares of the utilities provider’s stock after purchasing an additional 700 shares during the quarter. Advisory Alpha LLC’s holdings in ONEOK were worth $556,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in ONEOK by 7.2% during the first quarter. Vanguard Group Inc. now owns 75,196,969 shares of the utilities provider’s stock worth $7,461,043,000 after acquiring an additional 5,076,705 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in ONEOK by 13.8% during 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 in the last quarter. Invesco Ltd. boosted its stake in ONEOK by 25.1% during the first quarter. Invesco Ltd. now owns 8,339,939 shares of the utilities provider’s stock worth $827,489,000 after acquiring an additional 1,674,706 shares in the last quarter. Tortoise Capital Advisors L.L.C. boosted its stake in ONEOK by 17.1% during the first quarter. Tortoise Capital Advisors L.L.C. now owns 7,171,795 shares of the utilities provider’s stock worth $711,586,000 after acquiring an additional 1,047,810 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in ONEOK by 5.3% during the first quarter. Northern Trust Corp now owns 6,879,863 shares of the utilities provider’s stock worth $682,620,000 after acquiring an additional 344,002 shares in the last quarter. 69.13% of the stock is owned by institutional investors.

Analysts Set New Price Targets

OKE has been the topic of several research analyst reports. TD Cowen initiated coverage on shares of ONEOK in a research note on Monday, July 7th. They set a “hold” rating and a $91.00 target price on the stock. Mizuho cut their target price on shares of ONEOK from $87.00 to $82.00 and set a “neutral” rating on the stock in a research note on Friday, August 29th. Raymond James Financial reissued an “outperform” rating on shares of ONEOK in a research note on Friday, August 1st. Royal Bank Of Canada dropped their price objective on shares of ONEOK from $94.00 to $88.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 13th. Finally, Morgan Stanley dropped their price objective on shares of ONEOK from $122.00 to $110.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $100.60.

ONEOK Stock Up 0.7%

ONEOK stock opened at $71.87 on Wednesday. The firm’s fifty day moving average price is $77.69 and its two-hundred day moving average price is $83.74. The firm has a market capitalization of $45.26 billion, a price-to-earnings ratio of 14.01, a price-to-earnings-growth ratio of 1.70 and a beta of 1.04. The company has a current ratio of 0.59, a quick ratio of 0.46 and a debt-to-equity ratio of 1.35. ONEOK, Inc. has a 1-year low of $70.63 and a 1-year high of $118.07.

ONEOK (NYSE:OKE) last announced its earnings results on Monday, August 4th. The utilities provider reported $1.34 EPS for the quarter, beating the consensus estimate of $1.33 by $0.01. The company had revenue of $8.21 billion during the quarter, compared to the consensus estimate of $7.20 billion. ONEOK had a net margin of 11.06% and a return on equity of 14.90%. During the same quarter in the prior year, the company posted $1.33 earnings per share. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. On average, equities research analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Friday, August 1st were issued a $1.03 dividend. The ex-dividend date was Friday, August 1st. This represents a $4.12 annualized dividend 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.