Ashton Thomas Private Wealth LLC Acquires 3,775 Shares of ONEOK, Inc. $OKE

Ashton Thomas Private Wealth LLC grew its holdings in ONEOK, Inc. (NYSE:OKE) by 20.9% in the second quarter, HoldingsChannel reports. The fund owned 21,799 shares of the utilities provider’s stock after buying an additional 3,775 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in ONEOK were worth $1,779,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of OKE. Financial Network Wealth Advisors LLC boosted its position in shares of ONEOK by 2,466.7% in the first quarter. Financial Network Wealth Advisors LLC now owns 385 shares of the utilities provider’s stock valued at $38,000 after acquiring an additional 370 shares during the period. MorganRosel Wealth Management LLC acquired a new position in ONEOK in the first quarter valued at about $39,000. Financial Gravity Asset Management Inc. acquired a new position in ONEOK in the first quarter valued at about $40,000. Trust Co. of Toledo NA OH acquired a new position in ONEOK in the second quarter valued at about $42,000. Finally, Cheviot Value Management LLC acquired a new position in ONEOK in the first quarter valued at about $46,000. Institutional investors own 69.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on OKE. Barclays dropped their price target on ONEOK from $83.00 to $78.00 and set an “equal weight” rating for the company in a research note on Thursday, October 9th. Scotiabank set a $92.00 price target on ONEOK and gave the company a “sector outperform” rating in a research note on Tuesday, July 15th. TD Cowen began coverage on ONEOK in a research note on Monday, July 7th. They issued a “hold” rating and a $91.00 price target for the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of ONEOK in a research note on Wednesday, October 8th. Finally, Royal Bank Of Canada dropped their price target on ONEOK from $94.00 to $88.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $96.40.

ONEOK Stock Down 0.3%

Shares of NYSE OKE opened at $69.05 on Wednesday. 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 $43.49 billion, a price-to-earnings ratio of 13.46, a PEG ratio of 2.70 and a beta of 1.01. ONEOK, Inc. has a 12 month low of $66.56 and a 12 month high of $118.07. The stock has a 50-day moving average price of $72.23 and a two-hundred day moving average price of $78.19.

ONEOK (NYSE:OKE) last issued its earnings results on Tuesday, October 28th. The utilities provider reported $1.49 EPS for the quarter, topping the consensus estimate of $1.48 by $0.01. The firm had revenue of $9.17 billion during the quarter, compared to the consensus estimate of $8.23 billion. ONEOK had a return on equity of 14.90% and a net margin of 11.06%.During the same quarter in the previous year, the firm earned $1.18 earnings per share. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. As a group, analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Monday, November 3rd will be issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 6.0%. The ex-dividend date is Monday, November 3rd. ONEOK’s payout ratio is 80.31%.

ONEOK 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.