MJT & Associates Financial Advisory Group Inc. Increases Stock Position in ONEOK, Inc. $OKE

MJT & Associates Financial Advisory Group Inc. increased its position in ONEOK, Inc. (NYSE:OKE) by 5.8% in the 2nd quarter, Holdings Channel.com reports. The firm owned 2,540 shares of the utilities provider’s stock after buying an additional 140 shares during the quarter. MJT & Associates Financial Advisory Group Inc.’s holdings in ONEOK were worth $207,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in OKE. Vanguard Group Inc. boosted its stake in shares of ONEOK by 7.2% in the first quarter. Vanguard Group Inc. now owns 75,196,969 shares of the utilities provider’s stock valued at $7,461,043,000 after purchasing an additional 5,076,705 shares during the period. Nuveen LLC acquired a new stake in ONEOK in the first quarter valued at $440,535,000. Boston Partners acquired a new stake in ONEOK in the first quarter valued at $353,596,000. Charles Schwab Investment Management Inc. raised its holdings in ONEOK by 13.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 20,957,230 shares of the utilities provider’s stock valued at $2,079,376,000 after acquiring an additional 2,542,449 shares in the last quarter. Finally, Wellington Management Group LLP raised its holdings in ONEOK by 51.9% in the first quarter. Wellington Management Group LLP now owns 6,388,987 shares of the utilities provider’s stock valued at $633,915,000 after acquiring an additional 2,182,081 shares in the last quarter. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on OKE shares. Mizuho cut their price target 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. 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 on the stock. Scotiabank set a $92.00 price target on shares of ONEOK and gave the company a “sector outperform” rating in a report on Tuesday, July 15th. Barclays set a $83.00 price target on shares of ONEOK in a report on Thursday, August 14th. Finally, The Goldman Sachs Group initiated coverage on shares of ONEOK in a report on Tuesday. They issued a “neutral” rating and a $75.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, ONEOK currently has an average rating of “Moderate Buy” and a consensus target price of $99.00.

ONEOK Stock Down 0.2%

Shares of NYSE:OKE opened at $72.99 on Wednesday. The company’s fifty day moving average is $75.23 and its two-hundred day moving average is $81.51. The stock has a market capitalization of $45.97 billion, a price-to-earnings ratio of 14.23, a price-to-earnings-growth ratio of 1.79 and a beta of 1.04. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.46 and a current ratio of 0.59. ONEOK, Inc. has a 1-year low of $70.63 and a 1-year high of $118.07.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Monday, August 4th. The utilities provider reported $1.34 EPS for the quarter, topping the consensus estimate of $1.33 by $0.01. The business had revenue of $8.21 billion during the quarter, compared to analyst estimates of $7.20 billion. ONEOK had a net margin of 11.06% and a return on equity of 14.90%. During the same quarter in the prior year, the firm earned $1.33 earnings per share. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. Equities analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Friday, August 1st were given a dividend of $1.03 per share. The ex-dividend date was Friday, August 1st. This represents a $4.12 annualized dividend and a dividend yield of 5.6%. ONEOK’s dividend payout ratio is currently 80.31%.

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.