ONEOK, Inc. $OKE Shares Purchased by OLD National Bancorp IN

OLD National Bancorp IN lifted its holdings in ONEOK, Inc. (NYSE:OKE) by 21.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,361 shares of the utilities provider’s stock after acquiring an additional 592 shares during the quarter. OLD National Bancorp IN’s holdings in ONEOK were worth $274,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Presima Securities ULC boosted its holdings in ONEOK by 1.4% during the first quarter. Presima Securities ULC now owns 9,477 shares of the utilities provider’s stock worth $940,000 after buying an additional 127 shares in the last quarter. Morey & Quinn Wealth Partners LLC boosted its holdings in ONEOK by 0.8% during the first quarter. Morey & Quinn Wealth Partners LLC now owns 15,722 shares of the utilities provider’s stock worth $1,560,000 after buying an additional 130 shares in the last quarter. Clearstead Trust LLC boosted its holdings in ONEOK by 5.0% during the first quarter. Clearstead Trust LLC now owns 2,792 shares of the utilities provider’s stock worth $277,000 after buying an additional 133 shares in the last quarter. BankPlus Wealth Management LLC boosted its holdings in ONEOK by 2.8% during the first quarter. BankPlus Wealth Management LLC now owns 4,884 shares of the utilities provider’s stock worth $485,000 after buying an additional 134 shares in the last quarter. Finally, Capital Investment Advisory Services LLC boosted its holdings in ONEOK by 4.5% during the first quarter. Capital Investment Advisory Services LLC now owns 3,132 shares of the utilities provider’s stock worth $311,000 after buying an additional 134 shares in the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

ONEOK Stock Performance

NYSE:OKE opened at $72.42 on Wednesday. The company’s 50-day moving average price is $74.28 and its 200-day moving average price is $80.59. 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 company has a market cap of $45.61 billion, a P/E ratio of 14.12, a P/E/G ratio of 1.79 and a beta of 1.01. ONEOK, Inc. has a twelve month low of $70.63 and a twelve month high of $118.07.

ONEOK (NYSE:OKE) last posted its quarterly earnings results on Monday, August 4th. The utilities provider reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.01. The firm had revenue of $8.21 billion for 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 period last year, the firm posted $1.33 earnings per share. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. On average, sell-side analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on OKE shares. JPMorgan Chase & Co. increased their price target on shares of ONEOK from $94.00 to $97.00 and gave the stock an “overweight” rating in a report on Thursday, July 3rd. Barclays set a $83.00 price objective on shares of ONEOK in a report on Thursday, August 14th. Scotiabank set a $92.00 price objective on shares of ONEOK and gave the company a “sector outperform” rating in a report on Tuesday, July 15th. TD Cowen initiated coverage on shares of ONEOK in a report on Monday, July 7th. They set a “hold” rating and a $91.00 price objective on the stock. Finally, Mizuho decreased their price objective on shares of ONEOK from $87.00 to $82.00 and set a “neutral” rating on the stock in a report on Friday, August 29th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $99.00.

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.