ONEOK, Inc. $OKE Shares Acquired by Geneos Wealth Management Inc.

Geneos Wealth Management Inc. lifted its position in shares of ONEOK, Inc. (NYSE:OKE) by 6.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 44,115 shares of the utilities provider’s stock after buying an additional 2,612 shares during the period. Geneos Wealth Management Inc.’s holdings in ONEOK were worth $4,377,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. First Pacific Financial acquired a new stake in shares of ONEOK during the 1st quarter worth approximately $34,000. Vermillion Wealth Management Inc. acquired a new stake in ONEOK in the 4th quarter valued at approximately $37,000. Financial Network Wealth Advisors LLC increased its holdings in ONEOK by 2,466.7% in the 1st 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 during the last quarter. MorganRosel Wealth Management LLC acquired a new stake in ONEOK in the 1st quarter valued at approximately $39,000. Finally, Financial Gravity Asset Management Inc. acquired a new stake in ONEOK in the 1st quarter valued at approximately $40,000. Institutional investors and hedge funds own 69.13% of the company’s stock.

Analyst Ratings Changes

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

ONEOK Stock Performance

Shares of OKE stock opened at $73.24 on Thursday. The company has a quick ratio of 0.46, a current ratio of 0.59 and a debt-to-equity ratio of 1.35. ONEOK, Inc. has a 52 week low of $70.63 and a 52 week high of $118.07. The stock has a market capitalization of $46.12 billion, a PE ratio of 14.28, a P/E/G ratio of 1.71 and a beta of 1.04. The firm has a 50 day moving average of $77.52 and a two-hundred day moving average of $83.67.

ONEOK (NYSE:OKE) last issued its quarterly 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. ONEOK had a net margin of 11.06% and a return on equity of 14.90%. The company had revenue of $8.21 billion during the quarter, compared to analysts’ expectations of $7.20 billion. During the same quarter last year, the company posted $1.33 EPS. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. On average, research analysts predict that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Announces Dividend

The company also recently disclosed 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 annualized dividend and a dividend yield of 5.6%. The ex-dividend date of this dividend was Friday, August 1st. ONEOK’s payout ratio is 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.