ONEOK, Inc. $OKE Shares Purchased by Forum Financial Management LP

Forum Financial Management LP increased its position in shares of ONEOK, Inc. (NYSE:OKE) by 13.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,503 shares of the utilities provider’s stock after acquiring an additional 1,351 shares during the period. Forum Financial Management LP’s holdings in ONEOK were worth $939,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Morningstar Investment Management LLC lifted its stake in ONEOK by 18.2% during the 2nd quarter. Morningstar Investment Management LLC now owns 27,375 shares of the utilities provider’s stock worth $2,235,000 after acquiring an additional 4,206 shares in the last quarter. Dark Forest Capital Management LP lifted its stake in ONEOK by 409.5% during the 1st quarter. Dark Forest Capital Management LP now owns 40,372 shares of the utilities provider’s stock worth $4,006,000 after acquiring an additional 32,448 shares in the last quarter. Andrew Hill Investment Advisors Inc. acquired a new position in ONEOK during the 2nd quarter worth about $3,671,000. Banco Santander S.A. lifted its stake in ONEOK by 22.2% during the 1st quarter. Banco Santander S.A. now owns 26,824 shares of the utilities provider’s stock worth $2,661,000 after acquiring an additional 4,880 shares in the last quarter. Finally, Amundi lifted its stake in ONEOK by 27.7% during the 1st quarter. Amundi now owns 5,242,524 shares of the utilities provider’s stock worth $485,982,000 after acquiring an additional 1,136,928 shares in the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on OKE. JPMorgan Chase & Co. upped their price target on ONEOK from $94.00 to $97.00 and gave the stock an “overweight” rating in a report on Thursday, July 3rd. Mizuho cut their price target on ONEOK from $87.00 to $82.00 and set a “neutral” rating on the stock in a report on Friday, August 29th. Morgan Stanley cut 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. Scotiabank set a $92.00 price target on ONEOK and gave the stock a “sector outperform” rating in a report on Tuesday, July 15th. Finally, TD Cowen began coverage on ONEOK in a report on Monday, July 7th. They set a “hold” rating and a $91.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $98.27.

ONEOK Trading Up 0.4%

OKE opened at $69.84 on Friday. ONEOK, Inc. has a one year low of $66.56 and a one year high of $118.07. The company has a market cap of $43.98 billion, a P/E ratio of 13.61, a PEG ratio of 2.72 and a beta of 1.01. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.46 and a current ratio of 0.59. The business’s 50-day simple moving average is $72.50 and its 200-day simple moving average is $78.49.

ONEOK (NYSE:OKE) last released 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 the consensus estimate of $7.20 billion. During the same quarter in the prior year, the business posted $1.33 EPS. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. As a group, equities research analysts expect that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Monday, November 3rd will be issued a $1.03 dividend. The ex-dividend date is Monday, November 3rd. This represents a $4.12 dividend on an annualized basis and a dividend yield of 5.9%. ONEOK’s dividend payout ratio is presently 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.