MGO One Seven LLC Purchases 39,209 Shares of ONEOK, Inc. $OKE

MGO One Seven LLC lifted its position in ONEOK, Inc. (NYSE:OKE) by 957.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 43,306 shares of the utilities provider’s stock after acquiring an additional 39,209 shares during the quarter. MGO One Seven LLC’s holdings in ONEOK were worth $3,535,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in OKE. Vanguard Group Inc. lifted its holdings in ONEOK by 7.2% during the 1st quarter. Vanguard Group Inc. now owns 75,196,969 shares of the utilities provider’s stock valued at $7,461,043,000 after buying an additional 5,076,705 shares in the last quarter. Nuveen LLC bought a new stake in ONEOK during the 1st quarter valued at about $440,535,000. Boston Partners bought a new stake in ONEOK during the 1st quarter valued at about $353,596,000. Charles Schwab Investment Management Inc. lifted its holdings in ONEOK by 13.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 20,957,230 shares of the utilities provider’s stock valued at $2,079,376,000 after buying an additional 2,542,449 shares in the last quarter. Finally, Wellington Management Group LLP lifted its holdings in ONEOK by 51.9% during the 1st quarter. Wellington Management Group LLP now owns 6,388,987 shares of the utilities provider’s stock valued at $633,915,000 after buying an additional 2,182,081 shares in the last quarter. Institutional investors own 69.13% of the company’s stock.

ONEOK Trading Up 0.7%

NYSE OKE opened at $69.60 on Tuesday. 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 $43.83 billion, a PE ratio of 13.57, a price-to-earnings-growth ratio of 1.69 and a beta of 1.01. The company has a 50 day moving average price of $73.47 and a 200 day moving average price of $79.61. ONEOK, Inc. has a 52 week low of $69.05 and a 52 week high of $118.07.

ONEOK (NYSE:OKE) last posted its quarterly earnings data 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 firm had revenue of $8.21 billion during the quarter, compared to analyst estimates of $7.20 billion. ONEOK had a net margin of 11.06% and a return on equity of 14.90%. During the same quarter in the previous year, the business posted $1.33 EPS. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. As a group, sell-side analysts forecast 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 paid a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 5.9%. The ex-dividend date was Friday, August 1st. ONEOK’s payout ratio is 80.31%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on OKE shares. Scotiabank set a $92.00 price objective on shares of ONEOK and gave the company a “sector outperform” rating in a report on Tuesday, July 15th. Weiss Ratings reissued a “hold (c+)” rating on shares of ONEOK in a research report on Wednesday, October 8th. Mizuho cut their target price on shares of ONEOK from $87.00 to $82.00 and set a “neutral” rating on the stock in a research report on Friday, August 29th. The Goldman Sachs Group initiated coverage on shares of ONEOK in a research report on Tuesday, September 30th. They set a “neutral” rating and a $75.00 target price on the stock. Finally, Royal Bank Of Canada cut their target price on shares of ONEOK from $94.00 to $88.00 and set a “sector perform” rating on the stock in a research report 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. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $98.69.

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.