Howard Capital Management Inc. Has $483,000 Stake in ONEOK, Inc. $OKE

Howard Capital Management Inc. raised its position in ONEOK, Inc. (NYSE:OKE) by 15.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,920 shares of the utilities provider’s stock after purchasing an additional 775 shares during the quarter. Howard Capital Management Inc.’s holdings in ONEOK were worth $483,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of OKE. Vanguard Group Inc. raised its position in ONEOK by 7.2% in the 1st quarter. Vanguard Group Inc. now owns 75,196,969 shares of the utilities provider’s stock valued at $7,461,043,000 after buying an additional 5,076,705 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of 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 purchasing an additional 2,542,449 shares during the last quarter. Invesco Ltd. raised its holdings in shares of ONEOK by 25.1% in the first 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 last quarter. Tortoise Capital Advisors L.L.C. raised its holdings in shares of ONEOK by 17.1% in 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 during the last quarter. Finally, Northern Trust Corp raised its holdings in shares of ONEOK by 5.3% in the first quarter. Northern Trust Corp now owns 6,879,863 shares of the utilities provider’s stock valued at $682,620,000 after purchasing an additional 344,002 shares during the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of ONEOK in a research note on Wednesday, October 8th. Morgan Stanley lowered their target price on ONEOK from $122.00 to $110.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 26th. Mizuho lowered their target price on ONEOK from $87.00 to $82.00 and set a “neutral” rating on the stock in a research 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. Finally, JPMorgan Chase & Co. boosted their price target on ONEOK from $94.00 to $97.00 and gave the stock an “overweight” rating in a research report on Thursday, July 3rd. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $96.40.

ONEOK Stock Down 2.7%

OKE stock opened at $67.23 on Thursday. The company has a current ratio of 0.59, a quick ratio of 0.46 and a debt-to-equity ratio of 1.35. The firm has a market capitalization of $42.34 billion, a PE ratio of 12.36, a PEG ratio of 2.70 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 business’s 50 day simple moving average is $72.10 and its 200 day simple moving average is $78.08.

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

ONEOK Announces Dividend

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