ONEOK, Inc. $OKE Position Boosted by Ramirez Asset Management Inc.

Ramirez Asset Management Inc. raised its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 128.9% during the 2nd quarter, HoldingsChannel reports. The fund owned 22,817 shares of the utilities provider’s stock after purchasing an additional 12,848 shares during the period. Ramirez Asset Management Inc.’s holdings in ONEOK were worth $1,863,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. First Pacific Financial purchased a new position in ONEOK during the 1st quarter valued at about $34,000. Financial Network Wealth Advisors LLC grew its stake in ONEOK by 2,466.7% during the 1st quarter. Financial Network Wealth Advisors LLC now owns 385 shares of the utilities provider’s stock valued at $38,000 after acquiring an additional 370 shares in the last quarter. MorganRosel Wealth Management LLC purchased a new position in ONEOK during the 1st quarter valued at about $39,000. Financial Gravity Asset Management Inc. acquired a new stake in shares of ONEOK during the 1st quarter valued at about $40,000. Finally, Rakuten Securities Inc. lifted its holdings in shares of ONEOK by 152.1% during the 1st quarter. Rakuten Securities Inc. now owns 421 shares of the utilities provider’s stock valued at $42,000 after buying an additional 254 shares during the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on OKE shares. TD Cowen started coverage on ONEOK in a report on Monday, July 7th. They set a “hold” rating and a $91.00 price target for the company. JPMorgan Chase & Co. lifted their price target on ONEOK from $94.00 to $97.00 and gave the company an “overweight” rating in a report on Thursday, July 3rd. Barclays reduced their price target on ONEOK from $83.00 to $78.00 and set an “equal weight” rating for the company in a report on Thursday. Royal Bank Of Canada reduced their price target on ONEOK from $94.00 to $88.00 and set a “sector perform” rating for the company in a report on Wednesday, August 13th. Finally, Mizuho reduced their price target on ONEOK from $87.00 to $82.00 and set a “neutral” rating for the company in a report on Friday, August 29th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat, ONEOK currently has a consensus rating of “Moderate Buy” and a consensus target price of $98.69.

ONEOK Stock Down 1.5%

OKE opened at $71.32 on Friday. ONEOK, Inc. has a twelve month low of $70.63 and a twelve month high of $118.07. The firm has a market cap of $44.91 billion, a P/E ratio of 13.90, a price-to-earnings-growth ratio of 1.78 and a beta of 1.01. The business has a 50 day moving average price of $73.87 and a 200 day moving average price of $80.32. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.46 and a current ratio of 0.59.

ONEOK (NYSE:OKE) last issued its quarterly earnings results on Monday, August 4th. The utilities provider reported $1.34 EPS for the quarter, topping 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 period in the previous year, the company earned $1.33 earnings per share. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. Research analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Friday, August 1st were issued a dividend of $1.03 per share. The ex-dividend date was Friday, August 1st. This represents a $4.12 dividend on an annualized basis and a dividend yield of 5.8%. ONEOK’s payout ratio is 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.