ONEOK, Inc. $OKE Shares Purchased by Prudent Man Advisors LLC

Prudent Man Advisors LLC boosted its holdings in ONEOK, Inc. (NYSE:OKE) by 83.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,388 shares of the utilities provider’s stock after acquiring an additional 6,082 shares during the quarter. Prudent Man Advisors LLC’s holdings in ONEOK were worth $1,093,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Bogart Wealth LLC increased its position in ONEOK by 3.1% in the 2nd quarter. Bogart Wealth LLC now owns 4,031 shares of the utilities provider’s stock valued at $329,000 after acquiring an additional 122 shares during the period. Presima Securities ULC increased its position in shares of ONEOK by 1.4% during the 1st quarter. Presima Securities ULC now owns 9,477 shares of the utilities provider’s stock valued at $940,000 after purchasing an additional 127 shares during the period. Clearstead Trust LLC increased its position in shares of ONEOK by 5.0% during the 1st quarter. Clearstead Trust LLC now owns 2,792 shares of the utilities provider’s stock valued at $277,000 after purchasing an additional 133 shares during the period. BankPlus Wealth Management LLC increased its position in shares of ONEOK by 2.8% during the 1st quarter. BankPlus Wealth Management LLC now owns 4,884 shares of the utilities provider’s stock valued at $485,000 after purchasing an additional 134 shares during the period. Finally, Capital Investment Advisory Services LLC increased its position in shares of ONEOK by 4.5% during the 1st quarter. Capital Investment Advisory Services LLC now owns 3,132 shares of the utilities provider’s stock valued at $311,000 after purchasing an additional 134 shares during the period. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on OKE. Royal Bank Of Canada lowered their price target on ONEOK from $94.00 to $88.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 13th. The Goldman Sachs Group began coverage on ONEOK in a research report on Tuesday, September 30th. They set a “neutral” rating and a $75.00 price target on the stock. Morgan Stanley lowered their price target on ONEOK from $122.00 to $110.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 26th. Scotiabank set a $92.00 price target on ONEOK and gave the company a “sector outperform” rating in a research report on Tuesday, July 15th. Finally, TD Cowen began coverage on ONEOK in a research report on Monday, July 7th. They set a “hold” rating and a $91.00 price target on the stock. One investment 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’s stock. According to MarketBeat, ONEOK currently has a consensus rating of “Moderate Buy” and a consensus price target of $96.40.

ONEOK Stock Performance

Shares of NYSE OKE opened at $68.60 on Friday. The stock has a market capitalization of $43.20 billion, a price-to-earnings ratio of 13.37, a PEG ratio of 2.68 and a beta of 1.01. The stock’s fifty day simple moving average is $72.40 and its 200 day simple moving average is $78.42. The company has a quick ratio of 0.46, a current ratio of 0.59 and a debt-to-equity ratio of 1.35. ONEOK, Inc. has a 52-week low of $66.56 and a 52-week high of $118.07.

ONEOK (NYSE:OKE) last issued its earnings results on Monday, August 4th. The utilities provider reported $1.34 EPS for the quarter, topping the consensus estimate of $1.33 by $0.01. The business had revenue of $8.21 billion during the quarter, compared to analysts’ expectations of $7.20 billion. ONEOK had a return on equity of 14.90% and a net margin of 11.06%.During the same quarter last year, the firm posted $1.33 earnings per share. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. As a group, sell-side analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Monday, November 3rd will be given a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 6.0%. The ex-dividend date of this dividend is Monday, November 3rd. ONEOK’s dividend payout ratio (DPR) is 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.