Premier Path Wealth Partners LLC Acquires 771 Shares of ONEOK, Inc. $OKE

Premier Path Wealth Partners LLC grew its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 13.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,306 shares of the utilities provider’s stock after acquiring an additional 771 shares during the quarter. Premier Path Wealth Partners LLC’s holdings in ONEOK were worth $515,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Financial Network Wealth Advisors LLC boosted its position in shares of ONEOK by 2,466.7% during the 1st quarter. Financial Network Wealth Advisors LLC now owns 385 shares of the utilities provider’s stock valued at $38,000 after acquiring an additional 370 shares during the last quarter. Financial Gravity Asset Management Inc. bought a new stake in shares of ONEOK during the 1st quarter valued at about $40,000. Trust Co. of Toledo NA OH bought a new stake in shares of ONEOK during the 2nd quarter valued at about $42,000. Cheviot Value Management LLC bought a new stake in shares of ONEOK during the 1st quarter valued at about $46,000. Finally, North Capital Inc. bought a new stake in shares of ONEOK during the 1st quarter valued at about $48,000. Institutional investors own 69.13% of the company’s stock.

ONEOK Price Performance

Shares of ONEOK stock opened at $66.70 on Friday. The company has a debt-to-equity ratio of 1.44, a current ratio of 0.90 and a quick ratio of 0.46. The business’s 50 day simple moving average is $71.96 and its two-hundred day simple moving average is $78.00. The stock has a market capitalization of $42.00 billion, a P/E ratio of 12.26, a price-to-earnings-growth ratio of 2.62 and a beta of 1.01. ONEOK, Inc. has a one year low of $66.35 and a one year high of $118.07.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Tuesday, October 28th. The utilities provider reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.48 by $0.01. The business had revenue of $9.17 billion for the quarter, compared to analysts’ expectations of $8.23 billion. ONEOK had a return on equity of 15.12% and a net margin of 10.58%.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. Analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current 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 paid a dividend of $1.03 per share. The ex-dividend date of this dividend is Monday, November 3rd. This represents a $4.12 annualized dividend and a dividend yield of 6.2%. ONEOK’s payout ratio is 80.31%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on OKE. JPMorgan Chase & Co. raised their price objective on ONEOK from $94.00 to $97.00 and gave the company an “overweight” rating in a report on Thursday, July 3rd. Raymond James Financial reissued an “outperform” rating and set a $82.00 price objective (down from $100.00) on shares of ONEOK in a report on Friday, October 24th. Scotiabank set a $92.00 price objective on ONEOK and gave the company a “sector outperform” rating in a report on Tuesday, July 15th. Stifel Nicolaus set a $94.00 price objective on ONEOK in a report on Thursday. Finally, The Goldman Sachs Group assumed coverage on shares of ONEOK in a research note on Tuesday, September 30th. They issued a “neutral” rating and a $75.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, ONEOK currently has an average rating of “Moderate Buy” and a consensus price target of $93.80.

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.