BankPlus Trust Department Acquires 2,777 Shares of ONEOK, Inc. $OKE

BankPlus Trust Department raised its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 10.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,636 shares of the utilities provider’s stock after purchasing an additional 2,777 shares during the period. BankPlus Trust Department’s holdings in ONEOK were worth $2,338,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of OKE. Brighton Jones LLC raised its position in ONEOK by 137.1% during the 4th quarter. Brighton Jones LLC now owns 15,278 shares of the utilities provider’s stock valued at $1,534,000 after purchasing an additional 8,834 shares during the last quarter. UMB Bank n.a. raised its position in ONEOK by 3.8% during the 1st quarter. UMB Bank n.a. now owns 7,289 shares of the utilities provider’s stock valued at $723,000 after purchasing an additional 268 shares during the last quarter. Patriot Financial Group Insurance Agency LLC raised its position in ONEOK by 16.3% during the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 2,461 shares of the utilities provider’s stock valued at $244,000 after purchasing an additional 345 shares during the last quarter. Park Avenue Securities LLC grew its holdings in shares of ONEOK by 2.8% during the 1st quarter. Park Avenue Securities LLC now owns 7,816 shares of the utilities provider’s stock worth $776,000 after acquiring an additional 214 shares during the period. Finally, Portside Wealth Group LLC grew its holdings in shares of ONEOK by 5.2% during the 1st quarter. Portside Wealth Group LLC now owns 11,136 shares of the utilities provider’s stock worth $1,105,000 after acquiring an additional 555 shares during the period. Institutional investors own 69.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. The Goldman Sachs Group assumed coverage on ONEOK in a report on Tuesday, September 30th. They set a “neutral” rating and a $75.00 target price on the stock. Barclays set a $83.00 target price on ONEOK in a report on Thursday, August 14th. JPMorgan Chase & Co. upped their target price on ONEOK from $94.00 to $97.00 and gave the stock an “overweight” rating in a report on Thursday, July 3rd. Weiss Ratings reiterated a “hold (c+)” rating on shares of ONEOK in a report on Saturday, September 27th. Finally, Scotiabank set a $92.00 target price on ONEOK and gave the stock a “sector outperform” rating in a report on Tuesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $99.00.

ONEOK Stock Down 0.4%

OKE stock opened at $72.42 on Wednesday. ONEOK, Inc. has a twelve month low of $70.63 and a twelve month high of $118.07. The company has a quick ratio of 0.46, a current ratio of 0.59 and a debt-to-equity ratio of 1.35. The firm has a market cap of $45.61 billion, a PE ratio of 14.12, a price-to-earnings-growth ratio of 1.79 and a beta of 1.01. The business has a 50 day moving average of $74.28 and a 200 day moving average of $80.59.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Monday, August 4th. The utilities provider reported $1.34 earnings per share 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 company had revenue of $8.21 billion during the quarter, compared to analyst estimates of $7.20 billion. During the same quarter last year, the company earned $1.33 EPS. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. On average, research analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Friday, August 1st were issued a $1.03 dividend. The ex-dividend date of this dividend was Friday, August 1st. This represents a $4.12 dividend on an annualized basis and a dividend yield of 5.7%. ONEOK’s dividend payout ratio (DPR) is presently 80.31%.

ONEOK Company 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.