ONEOK, Inc. $OKE Shares Purchased by Ipswich Investment Management Co. Inc.

Ipswich Investment Management Co. Inc. increased its stake in shares of ONEOK, Inc. (NYSE:OKE) by 9.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,345 shares of the utilities provider’s stock after acquiring an additional 5,455 shares during the quarter. ONEOK comprises approximately 1.3% of Ipswich Investment Management Co. Inc.’s portfolio, making the stock its 23rd largest holding. Ipswich Investment Management Co. Inc.’s holdings in ONEOK were worth $5,416,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of OKE. First Pacific Financial acquired a new stake in ONEOK during the 1st quarter worth $34,000. Financial Network Wealth Advisors LLC raised 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 worth $38,000 after acquiring an additional 370 shares in the last quarter. MorganRosel Wealth Management LLC acquired a new stake in ONEOK during the 1st quarter worth $39,000. Financial Gravity Asset Management Inc. acquired a new stake in ONEOK during the 1st quarter worth $40,000. Finally, Rakuten Securities Inc. raised its stake in ONEOK by 152.1% during the 1st quarter. Rakuten Securities Inc. now owns 421 shares of the utilities provider’s stock worth $42,000 after acquiring an additional 254 shares in the last quarter. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on OKE shares. Raymond James Financial reiterated an “outperform” rating on shares of ONEOK in a research note on Friday, August 1st. Royal Bank Of Canada dropped 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 note on Wednesday, August 13th. Barclays set a $83.00 price objective on shares of ONEOK in a research note on Thursday, August 14th. Morgan Stanley dropped their price objective 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, Scotiabank set a $92.00 price objective on shares of ONEOK and gave the company a “sector outperform” rating in a research note on Tuesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $100.60.

ONEOK Stock Up 0.6%

Shares of NYSE:OKE opened at $73.86 on Friday. The company has a market cap of $46.51 billion, a price-to-earnings ratio of 14.40, a PEG ratio of 1.80 and a beta of 1.04. The firm’s 50-day simple moving average is $75.53 and its 200-day simple moving average is $81.89. The company has a quick ratio of 0.46, a current ratio of 0.59 and a debt-to-equity ratio of 1.35. ONEOK, Inc. has a fifty-two week low of $70.63 and a fifty-two week high of $118.07.

ONEOK (NYSE:OKE) last issued its earnings results 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. The business had revenue of $8.21 billion for 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 quarter in the previous year, the firm earned $1.33 earnings per share. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. As a group, equities research analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Friday, August 1st were issued a $1.03 dividend. The ex-dividend date of this dividend was Friday, August 1st. This represents a $4.12 annualized dividend and a dividend yield of 5.6%. ONEOK’s payout ratio is presently 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.