Wealthcare Advisory Partners LLC Purchases 2,181 Shares of ONEOK, Inc. $OKE

Wealthcare Advisory Partners LLC grew its position in shares of ONEOK, Inc. (NYSE:OKE) by 11.1% in the 2nd quarter, HoldingsChannel reports. The fund owned 21,789 shares of the utilities provider’s stock after buying an additional 2,181 shares during the period. Wealthcare Advisory Partners LLC’s holdings in ONEOK were worth $1,779,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in ONEOK by 7.2% during the 1st 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 bought a new stake in shares of ONEOK during the first quarter worth about $440,535,000. Boston Partners bought a new stake in shares of ONEOK during the first quarter worth about $353,596,000. Charles Schwab Investment Management Inc. raised its holdings in shares of ONEOK by 13.8% in the 1st 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 during the last quarter. Finally, Wellington Management Group LLP lifted its position in ONEOK by 51.9% in the 1st quarter. Wellington Management Group LLP now owns 6,388,987 shares of the utilities provider’s stock valued at $633,915,000 after acquiring an additional 2,182,081 shares in the last quarter. 69.13% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have commented on OKE. Mizuho decreased their price objective on ONEOK from $87.00 to $82.00 and set a “neutral” rating for the company in a report on Friday, August 29th. Raymond James Financial reissued an “outperform” rating on shares of ONEOK in a research report on Friday, August 1st. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of ONEOK in a report on Saturday, September 27th. 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. Finally, The Goldman Sachs Group assumed coverage on shares of ONEOK in a research report on Tuesday, September 30th. They set a “neutral” rating and a $75.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, ONEOK currently has an average rating of “Moderate Buy” and an average target price of $99.00.

ONEOK Price Performance

Shares of NYSE OKE opened at $72.72 on Tuesday. The company has a current ratio of 0.59, a quick ratio of 0.46 and a debt-to-equity ratio of 1.35. The stock has a fifty day simple moving average of $74.50 and a two-hundred day simple moving average of $80.64. ONEOK, Inc. has a 1-year low of $70.63 and a 1-year high of $118.07. The firm has a market cap of $45.80 billion, a price-to-earnings ratio of 14.18, a price-to-earnings-growth ratio of 1.79 and a beta of 1.01.

ONEOK (NYSE:OKE) last issued 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. The firm had revenue of $8.21 billion for the quarter, compared to analysts’ expectations of $7.20 billion. ONEOK had a return on equity of 14.90% and a net margin of 11.06%.During the same quarter in the prior 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 year.

ONEOK Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Friday, August 1st were given a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 5.7%. The ex-dividend date was Friday, August 1st. ONEOK’s dividend payout ratio (DPR) is currently 80.31%.

About ONEOK

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.