Eastern Bank Acquires 338 Shares of ONEOK, Inc. $OKE

Eastern Bank increased its holdings in ONEOK, Inc. (NYSE:OKE) by 2.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,723 shares of the utilities provider’s stock after purchasing an additional 338 shares during the period. Eastern Bank’s holdings in ONEOK were worth $1,120,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Presima Securities ULC boosted its holdings in ONEOK by 1.4% in the first quarter. Presima Securities ULC now owns 9,477 shares of the utilities provider’s stock worth $940,000 after purchasing an additional 127 shares in the last quarter. Morey & Quinn Wealth Partners LLC boosted its holdings in ONEOK by 0.8% in the first quarter. Morey & Quinn Wealth Partners LLC now owns 15,722 shares of the utilities provider’s stock worth $1,560,000 after purchasing an additional 130 shares in the last quarter. Clearstead Trust LLC boosted its holdings in ONEOK by 5.0% in the first quarter. Clearstead Trust LLC now owns 2,792 shares of the utilities provider’s stock worth $277,000 after purchasing an additional 133 shares in the last quarter. BankPlus Wealth Management LLC boosted its holdings in ONEOK by 2.8% in the first quarter. BankPlus Wealth Management LLC now owns 4,884 shares of the utilities provider’s stock worth $485,000 after purchasing an additional 134 shares in the last quarter. Finally, Capital Investment Advisory Services LLC lifted its position in ONEOK by 4.5% during the 1st quarter. Capital Investment Advisory Services LLC now owns 3,132 shares of the utilities provider’s stock worth $311,000 after acquiring an additional 134 shares during the last quarter. 69.13% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on OKE shares. Mizuho cut their target price on shares of ONEOK from $87.00 to $82.00 and set a “neutral” rating for the company in a research report on Friday, August 29th. JPMorgan Chase & Co. boosted their target price on shares of ONEOK from $94.00 to $97.00 and gave the stock an “overweight” rating in a research report on Thursday, July 3rd. TD Cowen started coverage on shares of ONEOK in a research report on Monday, July 7th. They set a “hold” rating and a $91.00 target price for the company. Barclays cut their target price on shares of ONEOK from $83.00 to $78.00 and set an “equal weight” rating for the company in a research report on Thursday. Finally, Morgan Stanley cut their target price on shares of ONEOK from $122.00 to $110.00 and set an “overweight” rating for the company in a research report on Tuesday, August 26th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $98.69.

ONEOK Stock Down 2.9%

Shares of OKE opened at $69.22 on Friday. The company has a 50-day simple moving average of $73.67 and a 200-day simple moving average of $79.94. The firm has a market capitalization of $43.59 billion, a P/E ratio of 13.49, a P/E/G ratio of 1.70 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. ONEOK, Inc. has a 52 week low of $69.08 and a 52 week high of $118.07.

ONEOK (NYSE:OKE) last announced 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. 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 business earned $1.33 earnings per share. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. On average, equities research analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Friday, August 1st were paid a $1.03 dividend. The ex-dividend date of this dividend was Friday, August 1st. This represents a $4.12 dividend on an annualized basis and a yield of 6.0%. ONEOK’s 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.