AlphaStar Capital Management LLC Acquires Shares of 3,505 ONEOK, Inc. $OKE

AlphaStar Capital Management LLC acquired a new stake in ONEOK, Inc. (NYSE:OKE) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,505 shares of the utilities provider’s stock, valued at approximately $286,000.

Several other large investors also recently bought and sold shares of OKE. Vanguard Group Inc. boosted its stake in shares of ONEOK by 7.2% during the first quarter. Vanguard Group Inc. now owns 75,196,969 shares of the utilities provider’s stock worth $7,461,043,000 after buying an additional 5,076,705 shares during the period. Nuveen LLC acquired a new stake in shares of ONEOK during the first quarter worth about $440,535,000. Boston Partners acquired a new stake in shares of ONEOK during the first quarter worth about $353,596,000. Charles Schwab Investment Management Inc. boosted its stake in shares of ONEOK by 13.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 20,957,230 shares of the utilities provider’s stock worth $2,079,376,000 after buying an additional 2,542,449 shares during the period. Finally, Wellington Management Group LLP boosted its stake in shares of ONEOK by 51.9% during the first quarter. Wellington Management Group LLP now owns 6,388,987 shares of the utilities provider’s stock worth $633,915,000 after buying an additional 2,182,081 shares during the period. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Trading Up 0.6%

Shares of ONEOK stock opened at $67.09 on Friday. ONEOK, Inc. has a 12-month low of $65.89 and a 12-month high of $118.07. The company has a current ratio of 0.90, a quick ratio of 0.46 and a debt-to-equity ratio of 1.44. The stock has a market cap of $42.25 billion, a PE ratio of 12.33, a price-to-earnings-growth ratio of 2.62 and a beta of 1.01. The company has a 50-day moving average of $71.81 and a two-hundred day moving average of $77.85.

ONEOK (NYSE:OKE) last issued its earnings results on Tuesday, October 28th. The utilities provider reported $1.49 earnings per share (EPS) for the quarter, beating 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 company had revenue of $9.17 billion during the quarter, compared to analysts’ expectations of $8.23 billion. During the same period last year, the company posted $1.18 earnings per share. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. On average, research analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Dividend Announcement

The firm also recently disclosed 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. This represents a $4.12 dividend on an annualized basis and a dividend yield of 6.1%. The ex-dividend date of this dividend is Monday, November 3rd. ONEOK’s dividend payout ratio (DPR) is 75.74%.

Analysts Set New Price Targets

OKE has been the subject of several recent research reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of ONEOK in a research note on Wednesday, October 8th. Royal Bank Of Canada decreased 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. Raymond James Financial reiterated an “outperform” rating and set a $82.00 target price (down previously from $100.00) on shares of ONEOK in a research note on Friday, October 24th. Citigroup reduced their price objective on shares of ONEOK from $102.00 to $95.00 and set a “buy” rating for the company in a research report on Friday. Finally, Barclays reduced their price objective on shares of ONEOK from $83.00 to $78.00 and set an “equal weight” rating for the company in a research report on Thursday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price 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.