Advisors Capital Management LLC Has $57.91 Million Holdings in ONEOK, Inc. $OKE

Advisors Capital Management LLC raised its stake in ONEOK, Inc. (NYSE:OKE) by 0.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 583,611 shares of the utilities provider’s stock after acquiring an additional 711 shares during the quarter. ONEOK comprises approximately 0.9% of Advisors Capital Management LLC’s investment portfolio, making the stock its 29th biggest holding. Advisors Capital Management LLC owned approximately 0.09% of ONEOK worth $57,906,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. WBI Investments LLC acquired a new stake in ONEOK in the 1st quarter valued at about $541,000. Acadian Asset Management LLC acquired a new stake in ONEOK in the 1st quarter valued at about $216,000. Geneos Wealth Management Inc. increased its position in ONEOK by 6.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 44,115 shares of the utilities provider’s stock valued at $4,377,000 after acquiring an additional 2,612 shares in the last quarter. Belpointe Asset Management LLC increased its position in ONEOK by 3.1% in the 1st quarter. Belpointe Asset Management LLC now owns 13,616 shares of the utilities provider’s stock valued at $1,351,000 after acquiring an additional 404 shares in the last quarter. Finally, Intech Investment Management LLC increased its position in ONEOK by 212.7% in the 1st quarter. Intech Investment Management LLC now owns 100,803 shares of the utilities provider’s stock valued at $10,002,000 after acquiring an additional 68,566 shares in the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on OKE. Morgan Stanley lowered 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. Raymond James Financial restated an “outperform” rating on shares of ONEOK in a research report on Friday, August 1st. Mizuho reduced their target price on shares of ONEOK from $87.00 to $82.00 and set a “neutral” rating on the stock in a research note on Friday, August 29th. JPMorgan Chase & Co. raised their target price on shares of ONEOK from $94.00 to $97.00 and gave the company an “overweight” rating in a research note on Thursday, July 3rd. Finally, Barclays set a $83.00 target price on shares of ONEOK in a research note on Thursday, August 14th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, ONEOK presently has an average rating of “Moderate Buy” and a consensus price target of $100.60.

ONEOK Stock Up 1.9%

Shares of NYSE OKE opened at $73.24 on Thursday. The firm’s 50-day moving average is $77.52 and its 200-day moving average is $83.67. ONEOK, Inc. has a 1 year low of $70.63 and a 1 year high of $118.07. The firm has a market capitalization of $46.12 billion, a PE ratio of 14.28, a price-to-earnings-growth ratio of 1.71 and a beta of 1.04. The company has a current ratio of 0.59, a quick ratio of 0.46 and a debt-to-equity ratio of 1.35.

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

ONEOK Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Friday, August 1st were paid a dividend of $1.03 per share. The ex-dividend date of this dividend was Friday, August 1st. This represents a $4.12 annualized dividend and a yield of 5.6%. 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.