ONEOK, Inc. $OKE Shares Bought by Greenwood Capital Associates LLC

Greenwood Capital Associates LLC lifted its holdings in ONEOK, Inc. (NYSE:OKE) by 8.9% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 24,012 shares of the utilities provider’s stock after purchasing an additional 1,954 shares during the quarter. Greenwood Capital Associates LLC’s holdings in ONEOK were worth $1,960,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Merit Financial Group LLC raised its position in shares of ONEOK by 11.4% during the 1st quarter. Merit Financial Group LLC now owns 11,505 shares of the utilities provider’s stock worth $1,142,000 after buying an additional 1,180 shares in the last quarter. Dark Forest Capital Management LP raised its holdings in ONEOK by 409.5% during the first quarter. Dark Forest Capital Management LP now owns 40,372 shares of the utilities provider’s stock worth $4,006,000 after purchasing an additional 32,448 shares in the last quarter. Capital Investment Advisors LLC lifted its position in ONEOK by 3.9% in the first quarter. Capital Investment Advisors LLC now owns 289,997 shares of the utilities provider’s stock worth $28,774,000 after purchasing an additional 10,957 shares during the period. Kentucky Retirement Systems Insurance Trust Fund lifted its position in ONEOK by 146.9% in the first quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 18,033 shares of the utilities provider’s stock worth $1,789,000 after purchasing an additional 10,728 shares during the period. Finally, Advisor Resource Council bought a new position in ONEOK during the 1st quarter valued at $511,000. 69.13% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on OKE shares. Raymond James Financial reissued an “outperform” rating on shares of ONEOK in a research note on Friday, August 1st. 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 price target on the stock. JPMorgan Chase & Co. raised their price objective 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. Scotiabank set a $92.00 price objective on shares of ONEOK and gave the stock a “sector outperform” rating in a research note on Tuesday, July 15th. Finally, Morgan Stanley cut their target price on shares of ONEOK from $122.00 to $110.00 and set an “overweight” rating for the company in a research note on Tuesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $99.00.

ONEOK Stock Down 0.7%

OKE stock opened at $72.50 on Friday. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.59 and a quick ratio of 0.46. The firm has a market capitalization of $45.66 billion, a P/E ratio of 14.13, a P/E/G ratio of 1.79 and a beta of 1.01. ONEOK, Inc. has a 52-week low of $70.63 and a 52-week high of $118.07. The company’s 50 day simple moving average is $74.86 and its 200-day simple moving average is $81.27.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Monday, August 4th. The utilities provider reported $1.34 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $7.20 billion. During the same quarter last year, the business posted $1.33 EPS. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. As a group, equities research analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Friday, August 1st were issued a dividend of $1.03 per share. The ex-dividend date was Friday, August 1st. This represents a $4.12 dividend on an annualized basis and a dividend yield of 5.7%. ONEOK’s 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.