Trueblood Wealth Management LLC Has $1.19 Million Stock Position in ONEOK, Inc. $OKE

Trueblood Wealth Management LLC grew its position in ONEOK, Inc. (NYSE:OKE) by 6.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 14,566 shares of the utilities provider’s stock after buying an additional 918 shares during the period. Trueblood Wealth Management LLC’s holdings in ONEOK were worth $1,189,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in OKE. Vanguard Group Inc. raised its position in shares of ONEOK by 7.2% during the first quarter. Vanguard Group Inc. now owns 75,196,969 shares of the utilities provider’s stock worth $7,461,043,000 after purchasing an additional 5,076,705 shares during the period. Nuveen LLC acquired a new stake in shares of ONEOK during the first quarter worth about $440,535,000. Boston Partners acquired a new stake in shares of ONEOK during the first quarter worth about $353,596,000. Charles Schwab Investment Management Inc. raised its position in shares of ONEOK by 13.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 20,957,230 shares of the utilities provider’s stock worth $2,079,376,000 after purchasing an additional 2,542,449 shares during the period. Finally, Wellington Management Group LLP raised its position in shares of ONEOK by 51.9% during the first quarter. Wellington Management Group LLP now owns 6,388,987 shares of the utilities provider’s stock worth $633,915,000 after purchasing an additional 2,182,081 shares during the period. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Trading Down 0.2%

Shares of NYSE:OKE opened at $72.72 on Tuesday. The company’s 50-day moving average price is $74.50 and its two-hundred day moving average price is $80.64. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.59 and a quick ratio of 0.46. ONEOK, Inc. has a one year low of $70.63 and a one year high of $118.07. The stock has a market capitalization of $45.80 billion, a PE ratio of 14.18, a price-to-earnings-growth ratio of 1.79 and a beta of 1.01.

ONEOK (NYSE:OKE) last issued its quarterly 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. ONEOK had a net margin of 11.06% and a return on equity of 14.90%. The firm had revenue of $8.21 billion for the quarter, compared to analysts’ expectations of $7.20 billion. During the same period in the previous year, the firm posted $1.33 EPS. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. On average, equities analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Friday, August 1st were given 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 yield of 5.7%. ONEOK’s payout ratio is 80.31%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of ONEOK in a research report on Saturday, September 27th. Mizuho cut their price objective 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. Royal Bank Of Canada cut their price objective 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. Scotiabank set a $92.00 price objective on shares of ONEOK and gave the company a “sector outperform” rating in a research report on Tuesday, July 15th. Finally, Morgan Stanley cut their price objective on shares of ONEOK from $122.00 to $110.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, ONEOK currently has an average rating of “Moderate Buy” and a consensus target price of $99.00.

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.