LMG Wealth Partners LLC Buys New Position in ONEOK, Inc. $OKE

LMG Wealth Partners LLC bought a new stake in shares of ONEOK, Inc. (NYSE:OKE) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,254 shares of the utilities provider’s stock, valued at approximately $266,000.

Several other large investors also recently added to or reduced their stakes in OKE. Brighton Jones LLC grew its position in ONEOK by 137.1% during the fourth quarter. Brighton Jones LLC now owns 15,278 shares of the utilities provider’s stock valued at $1,534,000 after buying an additional 8,834 shares during the period. QRG Capital Management Inc. grew its position in ONEOK by 5.4% during the first quarter. QRG Capital Management Inc. now owns 7,467 shares of the utilities provider’s stock valued at $741,000 after buying an additional 384 shares during the period. Retirement Systems of Alabama grew its position in ONEOK by 5.4% during the first quarter. Retirement Systems of Alabama now owns 133,325 shares of the utilities provider’s stock valued at $13,229,000 after buying an additional 6,843 shares during the period. Advisor Resource Council bought a new stake in ONEOK during the first quarter valued at approximately $511,000. Finally, Nilsine Partners LLC grew its position in ONEOK by 34.7% during the first quarter. Nilsine Partners LLC now owns 10,865 shares of the utilities provider’s stock valued at $1,078,000 after buying an additional 2,800 shares during the period. 69.13% of the stock is currently owned by institutional investors.

ONEOK Price Performance

ONEOK stock opened at $68.08 on Monday. 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 $66.56 and a 52-week high of $118.07. The company has a market cap of $42.88 billion, a price-to-earnings ratio of 13.27, a PEG ratio of 1.67 and a beta of 1.01. The firm’s fifty day moving average is $72.92 and its 200 day moving average is $78.78.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Monday, August 4th. The utilities provider reported $1.34 earnings per share 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 business had revenue of $8.21 billion for the quarter, compared to analysts’ expectations of $7.20 billion. During the same quarter in the previous year, the business posted $1.33 earnings per share. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. Sell-side analysts forecast 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 will be paid on Friday, November 14th. Shareholders of record on Monday, November 3rd will be given a dividend of $1.03 per share. The ex-dividend date is Monday, November 3rd. This represents a $4.12 dividend on an annualized basis and a yield of 6.1%. ONEOK’s payout ratio is 80.31%.

Analysts Set New Price Targets

OKE has been the subject of several recent research reports. JPMorgan Chase & Co. boosted their target price on shares of ONEOK from $94.00 to $97.00 and gave the company an “overweight” rating in a research report on Thursday, July 3rd. Royal Bank Of Canada lowered their price target 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. Raymond James Financial reaffirmed an “outperform” rating on shares of ONEOK in a report on Friday, August 1st. Barclays lowered their price target on shares of ONEOK from $83.00 to $78.00 and set an “equal weight” rating on the stock in a report on Thursday, October 9th. Finally, The Goldman Sachs Group began coverage on shares of ONEOK in a 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, eight have issued a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, ONEOK has a consensus rating of “Moderate Buy” and an average price target of $98.27.

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.