Stratos Wealth Partners LTD. Grows Position in ONEOK, Inc. $OKE

Stratos Wealth Partners LTD. raised its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 13.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 77,312 shares of the utilities provider’s stock after buying an additional 9,370 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in ONEOK were worth $6,311,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of OKE. First Pacific Financial purchased a new stake in shares of ONEOK in the first quarter valued at about $34,000. Financial Network Wealth Advisors LLC grew its holdings 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 purchasing an additional 370 shares during the period. MorganRosel Wealth Management LLC purchased a new stake in shares of ONEOK in the first quarter valued at about $39,000. Financial Gravity Asset Management Inc. purchased a new stake in shares of ONEOK in the first quarter valued at about $40,000. Finally, Trust Co. of Toledo NA OH purchased a new stake in shares of ONEOK in the second quarter valued at about $42,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. upped their price objective on shares of ONEOK from $94.00 to $97.00 and gave the company an “overweight” rating in a report on Thursday, July 3rd. Barclays dropped their price objective on shares of ONEOK from $83.00 to $78.00 and set an “equal weight” rating for the company in a report on Thursday, October 9th. Morgan Stanley dropped their price objective on shares of ONEOK from $122.00 to $110.00 and set an “overweight” rating for the company in a report on Tuesday, August 26th. TD Cowen initiated coverage on shares of ONEOK in a research report on Monday, July 7th. They issued a “hold” rating and a $91.00 target price on the stock. Finally, Scotiabank set a $92.00 target price on shares of ONEOK and gave the company a “sector outperform” rating in a research report on Tuesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $98.27.

ONEOK Stock Up 1.3%

Shares of OKE opened at $68.08 on Friday. The stock has a market capitalization of $42.88 billion, a PE ratio of 13.27, a P/E/G ratio of 1.64 and a beta of 1.01. ONEOK, Inc. has a 1 year low of $66.56 and a 1 year high of $118.07. 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 company’s 50-day simple moving average is $72.92 and its 200-day simple moving average is $79.03.

ONEOK (NYSE:OKE) last issued its quarterly earnings results on Monday, August 4th. The utilities provider reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.01. The business had revenue of $8.21 billion for the quarter, compared to analysts’ expectations 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 company earned $1.33 earnings per share. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. Analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

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