Legacy Trust Makes New $206,000 Investment in ONEOK, Inc. $OKE

Legacy Trust bought a new stake in ONEOK, Inc. (NYSE:OKE) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,526 shares of the utilities provider’s stock, valued at approximately $206,000.

Several other hedge funds also recently modified their holdings of OKE. Brighton Jones LLC boosted its holdings in ONEOK by 137.1% during the 4th quarter. Brighton Jones LLC now owns 15,278 shares of the utilities provider’s stock worth $1,534,000 after acquiring an additional 8,834 shares during the last quarter. NBC Securities Inc. raised its holdings in shares of ONEOK by 114,650.0% in the first quarter. NBC Securities Inc. now owns 2,295 shares of the utilities provider’s stock valued at $227,000 after purchasing an additional 2,293 shares during the last quarter. Merit Financial Group LLC lifted its position in shares of ONEOK by 11.4% during the first quarter. Merit Financial Group LLC now owns 11,505 shares of the utilities provider’s stock valued at $1,142,000 after purchasing an additional 1,180 shares in the last quarter. Curat Global LLC purchased a new position in ONEOK during the first quarter worth about $150,000. Finally, Tower Wealth Partners Inc. grew its position in ONEOK by 3.6% in the 1st quarter. Tower Wealth Partners Inc. now owns 5,428 shares of the utilities provider’s stock worth $539,000 after purchasing an additional 187 shares in the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Barclays set a $83.00 target price on shares of ONEOK in a research report on Thursday, August 14th. JPMorgan Chase & Co. increased their price target on ONEOK from $94.00 to $97.00 and gave the company an “overweight” rating in a research report on Thursday, July 3rd. Royal Bank Of Canada dropped their price target on ONEOK from $94.00 to $88.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 13th. Morgan Stanley reduced their price objective on ONEOK from $122.00 to $110.00 and set an “overweight” rating for the company in a research note on Tuesday, August 26th. Finally, The Goldman Sachs Group assumed coverage on ONEOK in a research report on Tuesday, September 30th. They set a “neutral” rating and a $75.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $99.00.

ONEOK Price Performance

Shares of NYSE OKE opened at $72.88 on Friday. 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 stock has a fifty day simple moving average of $74.69 and a two-hundred day simple moving average of $80.97. ONEOK, Inc. has a 1-year low of $70.63 and a 1-year high of $118.07. The firm has a market cap of $45.89 billion, a price-to-earnings ratio of 14.21, a price-to-earnings-growth ratio of 1.79 and a beta of 1.01.

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

ONEOK Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Friday, August 1st were paid a $1.03 dividend. The ex-dividend date was Friday, August 1st. This represents a $4.12 annualized dividend and a dividend yield of 5.7%. ONEOK’s dividend payout ratio (DPR) is presently 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.