Adamsbrown Wealth Consultants LLC Raises Stake in ONEOK, Inc. $OKE

Adamsbrown Wealth Consultants LLC grew its position in ONEOK, Inc. (NYSE:OKE) by 11.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,028 shares of the utilities provider’s stock after purchasing an additional 1,691 shares during the quarter. Adamsbrown Wealth Consultants LLC’s holdings in ONEOK were worth $1,390,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of OKE. First Pacific Financial bought a new position in ONEOK in the 1st quarter worth $34,000. Vermillion Wealth Management Inc. purchased a new position in shares of ONEOK in the fourth quarter valued at about $37,000. Financial Network Wealth Advisors LLC boosted its stake in shares of ONEOK by 2,466.7% in the first quarter. Financial Network Wealth Advisors LLC now owns 385 shares of the utilities provider’s stock worth $38,000 after acquiring an additional 370 shares during the period. MorganRosel Wealth Management LLC purchased a new stake in shares of ONEOK during the first quarter worth about $39,000. Finally, Financial Gravity Asset Management Inc. purchased a new stake in shares of ONEOK during the first quarter worth about $40,000. 69.13% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. TD Cowen assumed coverage on ONEOK in a report on Monday, July 7th. They issued a “hold” rating and a $91.00 price target on the stock. Royal Bank Of Canada lowered their target price on shares of ONEOK from $94.00 to $88.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 13th. 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 research report on Tuesday, August 26th. Barclays set a $83.00 target price on shares of ONEOK in a research note on Thursday, August 14th. Finally, JPMorgan Chase & Co. boosted their price target on shares of ONEOK from $94.00 to $97.00 and gave the stock an “overweight” rating in a research note on Thursday, July 3rd. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $100.60.

ONEOK Price Performance

OKE stock opened at $73.10 on Monday. The company has a fifty day simple moving average of $77.18 and a two-hundred day simple moving average of $83.16. ONEOK, Inc. has a 52 week low of $70.63 and a 52 week high of $118.07. 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 firm has a market capitalization of $46.04 billion, a P/E ratio of 14.25, a price-to-earnings-growth ratio of 1.74 and a beta of 1.04.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Monday, August 4th. The utilities provider reported $1.34 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 firm had revenue of $8.21 billion during the quarter, compared to the consensus estimate of $7.20 billion. During the same quarter last year, the firm earned $1.33 EPS. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. Analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The business 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. The ex-dividend date of this dividend was Friday, August 1st. This represents a $4.12 annualized dividend and a dividend yield of 5.6%. ONEOK’s 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.