Iron Horse Wealth Management LLC Has $147,000 Position in ONEOK, Inc. $OKE

Iron Horse Wealth Management LLC increased its position in shares of ONEOK, Inc. (NYSE:OKE) by 9.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,805 shares of the utilities provider’s stock after purchasing an additional 150 shares during the period. Iron Horse Wealth Management LLC’s holdings in ONEOK were worth $147,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Presima Securities ULC lifted its holdings in ONEOK by 1.4% during the 1st quarter. Presima Securities ULC now owns 9,477 shares of the utilities provider’s stock worth $940,000 after purchasing an additional 127 shares during the last quarter. Morey & Quinn Wealth Partners LLC increased its stake in ONEOK by 0.8% during the 1st quarter. Morey & Quinn Wealth Partners LLC now owns 15,722 shares of the utilities provider’s stock worth $1,560,000 after acquiring an additional 130 shares during the period. Clearstead Trust LLC increased its stake in ONEOK by 5.0% during the 1st quarter. Clearstead Trust LLC now owns 2,792 shares of the utilities provider’s stock worth $277,000 after acquiring an additional 133 shares during the period. BankPlus Wealth Management LLC increased its stake in ONEOK by 2.8% during the 1st quarter. BankPlus Wealth Management LLC now owns 4,884 shares of the utilities provider’s stock worth $485,000 after acquiring an additional 134 shares during the period. Finally, Capital Investment Advisory Services LLC increased its stake in ONEOK by 4.5% during the 1st quarter. Capital Investment Advisory Services LLC now owns 3,132 shares of the utilities provider’s stock worth $311,000 after acquiring an additional 134 shares during the period. 69.13% of the stock is owned by institutional investors and hedge funds.

ONEOK Trading Up 0.6%

Shares of OKE opened at $72.88 on Friday. ONEOK, Inc. has a 52-week low of $70.63 and a 52-week high of $118.07. The business’s fifty day moving average is $74.69 and its 200-day moving average is $80.97. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.46 and a current ratio of 0.59. The firm has a market cap of $45.89 billion, a price-to-earnings ratio of 14.21, a PEG ratio of 1.79 and a beta of 1.01.

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, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $7.20 billion. During the same quarter last year, the business posted $1.33 EPS. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. Equities analysts anticipate 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. Investors of record on Friday, August 1st were issued 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 dividend yield of 5.7%. ONEOK’s dividend payout ratio (DPR) is 80.31%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Scotiabank set a $92.00 price objective on ONEOK and gave the stock a “sector outperform” rating in a research note on Tuesday, July 15th. TD Cowen assumed coverage on ONEOK in a research note on Monday, July 7th. They set a “hold” rating and a $91.00 price objective on the stock. Barclays set a $83.00 price objective on ONEOK in a research note on Thursday, August 14th. Mizuho lowered their price objective on ONEOK from $87.00 to $82.00 and set a “neutral” rating on the stock in a research note on Friday, August 29th. Finally, Royal Bank Of Canada decreased their price target on ONEOK from $94.00 to $88.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 13th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $99.00.

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.