ONEOK, Inc. $OKE Shares Purchased by Occidental Asset Management LLC

Occidental Asset Management LLC increased its stake in shares of ONEOK, Inc. (NYSE:OKE) by 16.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,961 shares of the utilities provider’s stock after buying an additional 562 shares during the quarter. Occidental Asset Management LLC’s holdings in ONEOK were worth $323,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in OKE. First Pacific Financial purchased a new position in shares of ONEOK in the 1st quarter valued at approximately $34,000. Financial Network Wealth Advisors LLC grew its position 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 buying an additional 370 shares during the last quarter. MorganRosel Wealth Management LLC acquired a new position in ONEOK in the 1st quarter valued at $39,000. Financial Gravity Asset Management Inc. purchased a new position in ONEOK during the 1st quarter worth $40,000. Finally, Rakuten Securities Inc. lifted its stake in shares of ONEOK by 152.1% in the 1st quarter. Rakuten Securities Inc. now owns 421 shares of the utilities provider’s stock worth $42,000 after acquiring an additional 254 shares during the period. 69.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on OKE. TD Cowen assumed coverage on shares of ONEOK in a research note on Monday, July 7th. They set a “hold” rating and a $91.00 price target on the stock. JPMorgan Chase & Co. increased their price target on shares of ONEOK from $94.00 to $97.00 and gave the company an “overweight” rating in a report on Thursday, July 3rd. Barclays set a $83.00 target price on shares of ONEOK in a research report on Thursday, August 14th. Scotiabank set a $92.00 price target on shares of ONEOK and gave the company a “sector outperform” rating in a research report on Tuesday, July 15th. Finally, Morgan Stanley lowered their price target on ONEOK from $122.00 to $110.00 and set an “overweight” rating on the stock in a report on Tuesday, August 26th. 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. Based on data from MarketBeat, ONEOK currently has a consensus rating of “Moderate Buy” and an average price target of $100.60.

ONEOK Stock Performance

ONEOK stock opened at $72.52 on Wednesday. ONEOK, Inc. has a fifty-two week low of $70.63 and a fifty-two week high of $118.07. The company has a market capitalization of $45.67 billion, a price-to-earnings ratio of 14.14, a PEG ratio of 1.76 and a beta of 1.04. The stock has a fifty day moving average of $75.99 and a two-hundred day moving average of $82.21. 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) last posted its quarterly earnings data 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 return on equity of 14.90% and a net margin of 11.06%.The business had revenue of $8.21 billion for the quarter, compared to analyst estimates of $7.20 billion. During the same quarter last year, the company earned $1.33 earnings per share. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. On average, analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Dividend Announcement

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 $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date of this dividend was Friday, August 1st. 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.