Center for Financial Planning Inc. Acquires 993 Shares of ONEOK, Inc. $OKE

Center for Financial Planning Inc. grew its position in ONEOK, Inc. (NYSE:OKE) by 142.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,690 shares of the utilities provider’s stock after acquiring an additional 993 shares during the period. Center for Financial Planning Inc.’s holdings in ONEOK were worth $138,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of OKE. Vanguard Group Inc. raised its stake in shares of ONEOK by 7.2% in the first quarter. Vanguard Group Inc. now owns 75,196,969 shares of the utilities provider’s stock valued at $7,461,043,000 after acquiring an additional 5,076,705 shares during the last quarter. Nuveen LLC bought a new position in shares of ONEOK in the first quarter valued at approximately $440,535,000. Boston Partners bought a new position in shares of ONEOK in the first quarter valued at approximately $353,596,000. Charles Schwab Investment Management Inc. raised its stake in shares of ONEOK by 13.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 20,957,230 shares of the utilities provider’s stock valued at $2,079,376,000 after acquiring an additional 2,542,449 shares during the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of ONEOK by 51.9% in the first quarter. Wellington Management Group LLP now owns 6,388,987 shares of the utilities provider’s stock valued at $633,915,000 after acquiring an additional 2,182,081 shares during the last quarter. Institutional investors own 69.13% of the company’s stock.

ONEOK Price Performance

OKE opened at $67.09 on Friday. The company has a fifty day moving average price of $71.81 and a two-hundred day moving average price of $77.89. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.46 and a current ratio of 0.90. ONEOK, Inc. has a 52 week low of $65.89 and a 52 week high of $118.07. The firm has a market capitalization of $42.25 billion, a PE ratio of 12.33, a P/E/G ratio of 2.62 and a beta of 1.01.

ONEOK (NYSE:OKE) last released its 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. ONEOK had a net margin of 10.58% and a return on equity of 15.12%. The firm had revenue of $9.17 billion during the quarter, compared to analyst estimates of $8.23 billion. During the same quarter in the previous year, the business earned $1.18 EPS. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. As a group, analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Monday, November 3rd will be issued a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 6.1%. The ex-dividend date of this dividend is Monday, November 3rd. ONEOK’s payout ratio is currently 75.74%.

Wall Street Analyst Weigh In

OKE has been the subject of a number of research analyst reports. Stifel Nicolaus set a $94.00 target price on shares of ONEOK in a research note on Thursday. Royal Bank Of Canada cut their target price on shares of ONEOK from $94.00 to $88.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 13th. Morgan Stanley dropped their price objective on shares of ONEOK from $122.00 to $110.00 and set an “overweight” rating for the company in a research report on Tuesday, August 26th. Wells Fargo & Company dropped their price objective on shares of ONEOK from $90.00 to $82.00 and set an “equal weight” rating for the company in a research report on Thursday. Finally, Raymond James Financial restated an “outperform” rating and issued a $82.00 price objective (down previously from $100.00) on shares of ONEOK in a research report on Friday, October 24th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $93.33.

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.