Advisory Alpha LLC Has $539,000 Stock Holdings in ONEOK, Inc. $OKE

Advisory Alpha LLC increased its holdings in ONEOK, Inc. (NYSE:OKE) by 17.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,596 shares of the utilities provider’s stock after purchasing an additional 993 shares during the period. Advisory Alpha LLC’s holdings in ONEOK were worth $539,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Financial Network Wealth Advisors LLC increased its holdings in shares of ONEOK by 2,466.7% during the first quarter. Financial Network Wealth Advisors LLC now owns 385 shares of the utilities provider’s stock worth $38,000 after buying an additional 370 shares in the last quarter. Financial Gravity Asset Management Inc. acquired a new stake in shares of ONEOK during the first quarter worth approximately $40,000. Trust Co. of Toledo NA OH acquired a new stake in shares of ONEOK during the second quarter worth approximately $42,000. Cheviot Value Management LLC acquired a new stake in shares of ONEOK during the first quarter worth approximately $46,000. Finally, North Capital Inc. acquired a new stake in shares of ONEOK during the first quarter worth approximately $48,000. Institutional investors and hedge funds own 69.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on OKE. JPMorgan Chase & Co. raised their price objective on shares of ONEOK from $94.00 to $97.00 and gave the stock an “overweight” rating in a report on Thursday, July 3rd. Weiss Ratings reissued a “hold (c+)” rating on shares of ONEOK in a research note on Wednesday, October 8th. Raymond James Financial reissued an “outperform” rating and issued a $82.00 price target (down previously from $100.00) on shares of ONEOK in a report on Friday, October 24th. TD Cowen started coverage on shares of ONEOK in a report on Monday, July 7th. They issued a “hold” rating and a $91.00 price target for the company. Finally, Royal Bank Of Canada lowered their price target on shares of ONEOK from $94.00 to $88.00 and set a “sector perform” rating for the company in a report on Wednesday, August 13th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $96.40.

ONEOK Price Performance

Shares of OKE stock opened at $67.23 on Thursday. ONEOK, Inc. has a 52-week low of $66.56 and a 52-week high of $118.07. The stock has a market cap of $42.34 billion, a PE ratio of 12.36, a PEG ratio of 2.70 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 firm’s 50 day moving average price is $72.10 and its two-hundred day moving average price is $78.08.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Tuesday, October 28th. The utilities provider reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.48 by $0.01. The company had revenue of $9.17 billion for the quarter, compared to analysts’ expectations of $8.23 billion. ONEOK had a net margin of 10.58% and a return on equity of 15.14%. During the same period last year, the firm posted $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 EPS for the current year.

ONEOK Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Monday, November 3rd will be paid a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 6.1%. The ex-dividend date is Monday, November 3rd. ONEOK’s payout ratio is presently 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.