Hennessy Advisors Inc. Purchases 65,400 Shares of ONEOK, Inc. $OKE

Hennessy Advisors Inc. grew its position in ONEOK, Inc. (NYSE:OKE) by 20.3% during the second quarter, HoldingsChannel reports. The firm owned 387,154 shares of the utilities provider’s stock after buying an additional 65,400 shares during the period. ONEOK comprises approximately 1.1% of Hennessy Advisors Inc.’s portfolio, making the stock its 24th largest holding. Hennessy Advisors Inc.’s holdings in ONEOK were worth $31,603,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of OKE. Brighton Jones LLC boosted its stake in shares of ONEOK by 137.1% in 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. NBC Securities Inc. boosted its stake in ONEOK by 114,650.0% during the first quarter. NBC Securities Inc. now owns 2,295 shares of the utilities provider’s stock worth $227,000 after acquiring an additional 2,293 shares in the last quarter. Merit Financial Group LLC boosted its stake in ONEOK by 11.4% during the first quarter. Merit Financial Group LLC now owns 11,505 shares of the utilities provider’s stock worth $1,142,000 after acquiring an additional 1,180 shares in the last quarter. Fulton Bank N.A. bought a new position in ONEOK during the first quarter worth $316,000. Finally, Diligent Investors LLC boosted its stake in ONEOK by 2.8% during the first quarter. Diligent Investors LLC now owns 6,305 shares of the utilities provider’s stock worth $626,000 after acquiring an additional 170 shares in the last quarter. 69.13% of the stock is owned by institutional investors.

ONEOK Trading Up 0.6%

NYSE:OKE opened at $72.88 on Friday. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.59 and a quick ratio of 0.46. The firm has a 50-day moving average of $74.69 and a 200-day moving average of $81.10. The company has a market cap of $45.89 billion, a PE ratio of 14.21, a PEG ratio of 1.78 and a beta of 1.01. ONEOK, Inc. has a one year low of $70.63 and a one year high of $118.07.

ONEOK (NYSE:OKE) last posted its earnings results on Monday, August 4th. The utilities provider reported $1.34 EPS for the quarter, topping the consensus estimate of $1.33 by $0.01. The company had revenue of $8.21 billion during the quarter, compared to the consensus estimate of $7.20 billion. ONEOK had a net margin of 11.06% and a return on equity of 14.90%. During the same period in the previous year, the firm posted $1.33 earnings per share. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. As a group, equities research analysts expect that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Announces Dividend

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

Wall Street Analyst Weigh In

Several research analysts recently issued reports on OKE shares. Weiss Ratings reissued a “hold (c+)” rating on shares of ONEOK in a research note on Saturday, September 27th. Scotiabank set a $92.00 target price on shares of ONEOK and gave the stock a “sector outperform” rating in a research note on Tuesday, July 15th. Barclays set a $83.00 target price on shares of ONEOK in a research note on Thursday, August 14th. Morgan Stanley cut their target price on shares of ONEOK from $122.00 to $110.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 26th. Finally, The Goldman Sachs Group started coverage on shares of ONEOK in a research note on Tuesday. They set a “neutral” rating and a $75.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $99.00.

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.