GWN Securities Inc. Buys 685 Shares of ONEOK, Inc. $OKE

GWN Securities Inc. lifted its stake in ONEOK, Inc. (NYSE:OKE) by 26.5% in the 2nd quarter, HoldingsChannel reports. The firm owned 3,268 shares of the utilities provider’s stock after buying an additional 685 shares during the quarter. GWN Securities Inc.’s holdings in ONEOK were worth $268,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in ONEOK by 7.2% in the first quarter. Vanguard Group Inc. now owns 75,196,969 shares of the utilities provider’s stock worth $7,461,043,000 after buying an additional 5,076,705 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of ONEOK by 13.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 20,957,230 shares of the utilities provider’s stock worth $2,079,376,000 after acquiring an additional 2,542,449 shares in the last quarter. Invesco Ltd. lifted its stake in shares of ONEOK by 25.1% in the 1st quarter. Invesco Ltd. now owns 8,339,939 shares of the utilities provider’s stock valued at $827,489,000 after purchasing an additional 1,674,706 shares during the period. Tortoise Capital Advisors L.L.C. boosted its position in shares of ONEOK by 17.1% during the first quarter. Tortoise Capital Advisors L.L.C. now owns 7,171,795 shares of the utilities provider’s stock valued at $711,586,000 after purchasing an additional 1,047,810 shares in the last quarter. Finally, Northern Trust Corp grew its stake in ONEOK by 5.3% in the first quarter. Northern Trust Corp now owns 6,879,863 shares of the utilities provider’s stock worth $682,620,000 after purchasing an additional 344,002 shares during the period. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Analysts Set New Price Targets

OKE has been the subject of a number of recent research reports. JPMorgan Chase & Co. lifted their price target on shares of ONEOK from $94.00 to $97.00 and gave the company an “overweight” rating in a research report on Thursday, July 3rd. Mizuho reduced their price target on ONEOK from $87.00 to $82.00 and set a “neutral” rating for the company in a report on Friday, August 29th. Scotiabank set a $92.00 price target on ONEOK and gave the stock a “sector outperform” rating in a research report on Tuesday, July 15th. Barclays dropped their price target on shares of ONEOK from $83.00 to $78.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 9th. Finally, The Goldman Sachs Group began coverage on shares of ONEOK in a research note on Tuesday, September 30th. They set a “neutral” rating and a $75.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, ONEOK currently has a consensus rating of “Moderate Buy” and an average target price of $96.40.

ONEOK Price Performance

NYSE OKE opened at $67.23 on Thursday. 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 has a market capitalization of $42.34 billion, a price-to-earnings ratio of 12.36, a PEG ratio of 2.70 and a beta of 1.01. The stock has a 50-day moving average of $72.10 and a 200 day moving average of $78.08. ONEOK, Inc. has a one year low of $66.56 and a one year high of $118.07.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Tuesday, October 28th. The utilities provider reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.48 by $0.01. ONEOK had a net margin of 10.58% and a return on equity of 15.14%. The firm had revenue of $9.17 billion during the quarter, compared to analyst estimates of $8.23 billion. During the same period in the previous year, the business posted $1.18 earnings per share. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. On average, sell-side analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Announces Dividend

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