Wealth Preservation Advisors LLC Acquires Shares of 1,018 ONEOK, Inc. $OKE

Wealth Preservation Advisors LLC acquired a new stake in ONEOK, Inc. (NYSE:OKE) during the first quarter, HoldingsChannel.com reports. The fund acquired 1,018 shares of the utilities provider’s stock, valued at approximately $101,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in OKE. Greenline Partners LLC acquired a new stake in ONEOK during the fourth quarter worth approximately $32,000. First Pacific Financial acquired a new stake in ONEOK during the first quarter worth approximately $34,000. Vermillion Wealth Management Inc. acquired a new stake in ONEOK during the fourth quarter worth approximately $37,000. Financial Network Wealth Advisors LLC raised its holdings in ONEOK by 2,466.7% during the first quarter. Financial Network Wealth Advisors LLC now owns 385 shares of the utilities provider’s stock worth $38,000 after purchasing an additional 370 shares in the last quarter. Finally, MorganRosel Wealth Management LLC acquired a new stake in ONEOK during the first quarter worth approximately $39,000. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Stock Performance

Shares of OKE opened at $75.12 on Thursday. The company’s 50 day simple moving average is $78.93 and its 200-day simple moving average is $85.35. ONEOK, Inc. has a 12-month low of $72.18 and a 12-month high of $118.07. 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 cap of $47.31 billion, a PE ratio of 14.64, a price-to-earnings-growth ratio of 1.76 and a beta of 0.99.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Monday, August 4th. The utilities provider reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.33 by $0.01. ONEOK had a net margin of 11.06% and a return on equity of 14.90%. The firm had revenue of $8.21 billion for the quarter, compared to analyst estimates of $7.20 billion. During the same period last year, the firm posted $1.33 EPS. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. As a group, equities analysts predict that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Friday, August 1st were given a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 5.5%. The ex-dividend date was Friday, August 1st. ONEOK’s dividend payout ratio (DPR) is 80.31%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Royal Bank Of Canada cut their price objective on shares of ONEOK from $94.00 to $88.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 13th. JPMorgan Chase & Co. raised their price objective on shares of ONEOK from $94.00 to $97.00 and gave the stock an “overweight” rating in a report on Thursday, July 3rd. Barclays set a $83.00 price objective on shares of ONEOK in a report on Thursday, August 14th. Citigroup lowered their target price on shares of ONEOK from $110.00 to $102.00 and set a “buy” rating on the stock in a research report on Tuesday, May 6th. Finally, Raymond James Financial restated an “outperform” rating on shares of ONEOK in a research report on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $101.93.

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.