Tectonic Advisors LLC Grows Stock Holdings in ONEOK, Inc. $OKE

Tectonic Advisors LLC lifted its holdings in ONEOK, Inc. (NYSE:OKE) by 19.5% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 133,818 shares of the utilities provider’s stock after purchasing an additional 21,790 shares during the period. Tectonic Advisors LLC’s holdings in ONEOK were worth $10,923,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. Columbus Macro LLC lifted its position in shares of ONEOK by 27.6% in the 2nd quarter. Columbus Macro LLC now owns 107,350 shares of the utilities provider’s stock worth $8,763,000 after purchasing an additional 23,243 shares during the period. Vontobel Holding Ltd. lifted its position in shares of ONEOK by 19.9% in the 2nd quarter. Vontobel Holding Ltd. now owns 31,983 shares of the utilities provider’s stock worth $2,611,000 after purchasing an additional 5,302 shares during the period. Maryland State Retirement & Pension System lifted its position in shares of ONEOK by 6.9% in the 2nd quarter. Maryland State Retirement & Pension System now owns 593,282 shares of the utilities provider’s stock worth $48,430,000 after purchasing an additional 38,076 shares during the period. Clear Creek Financial Management LLC lifted its position in shares of ONEOK by 123.8% in the 2nd quarter. Clear Creek Financial Management LLC now owns 13,115 shares of the utilities provider’s stock worth $1,071,000 after purchasing an additional 7,256 shares during the period. Finally, Venturi Wealth Management LLC lifted its position in shares of ONEOK by 20.5% in the 2nd quarter. Venturi Wealth Management LLC now owns 8,772 shares of the utilities provider’s stock worth $716,000 after purchasing an additional 1,492 shares during the period. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Analyst Upgrades and Downgrades

OKE has been the subject of several recent analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of ONEOK from $94.00 to $97.00 and gave the stock an “overweight” rating in a research note on Thursday, July 3rd. Mizuho reduced their price objective on shares of ONEOK from $87.00 to $82.00 and set a “neutral” rating for the company in a research note on Friday, August 29th. Raymond James Financial reiterated an “outperform” rating on shares of ONEOK in a research note on Friday, August 1st. Scotiabank set a $92.00 price objective on shares of ONEOK and gave the stock a “sector outperform” rating in a research note on Tuesday, July 15th. Finally, Barclays set a $83.00 price objective on shares of ONEOK in a research note on Thursday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $99.00.

ONEOK Price Performance

Shares of OKE opened at $72.41 on Thursday. The firm has a market capitalization of $45.60 billion, a PE ratio of 14.12, a price-to-earnings-growth ratio of 1.78 and a beta of 1.01. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.59 and a quick ratio of 0.46. ONEOK, Inc. has a 1-year low of $70.63 and a 1-year high of $118.07. The company’s fifty day moving average price is $74.09 and its 200-day moving average price is $80.53.

ONEOK (NYSE:OKE) last announced 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. The firm had revenue of $8.21 billion for 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 period in the previous year, the company earned $1.33 earnings per share. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. On average, equities research analysts predict that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Friday, August 1st were issued a dividend of $1.03 per share. The ex-dividend date of this dividend was Friday, August 1st. This represents a $4.12 dividend on an annualized basis and a dividend yield of 5.7%. ONEOK’s payout ratio is 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.