Belpointe Asset Management LLC Raises Stock Position in ONEOK, Inc. $OKE

Belpointe Asset Management LLC raised its stake in ONEOK, Inc. (NYSE:OKE) by 6.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,490 shares of the utilities provider’s stock after buying an additional 874 shares during the period. Belpointe Asset Management LLC’s holdings in ONEOK were worth $1,183,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in OKE. Brighton Jones LLC increased its holdings in ONEOK by 137.1% in the fourth quarter. Brighton Jones LLC now owns 15,278 shares of the utilities provider’s stock valued at $1,534,000 after buying an additional 8,834 shares in the last quarter. UMB Bank n.a. grew its position in shares of ONEOK by 3.8% in the first quarter. UMB Bank n.a. now owns 7,289 shares of the utilities provider’s stock valued at $723,000 after purchasing an additional 268 shares during the last quarter. Patriot Financial Group Insurance Agency LLC grew its position in shares of ONEOK by 16.3% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 2,461 shares of the utilities provider’s stock valued at $244,000 after purchasing an additional 345 shares during the last quarter. Park Avenue Securities LLC grew its position in shares of ONEOK by 2.8% in the first quarter. Park Avenue Securities LLC now owns 7,816 shares of the utilities provider’s stock valued at $776,000 after purchasing an additional 214 shares during the last quarter. Finally, Portside Wealth Group LLC grew its position in shares of ONEOK by 5.2% in the first quarter. Portside Wealth Group LLC now owns 11,136 shares of the utilities provider’s stock valued at $1,105,000 after purchasing an additional 555 shares during the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

ONEOK Stock Down 0.4%

Shares of NYSE OKE opened at $72.42 on Wednesday. ONEOK, Inc. has a 1 year low of $70.63 and a 1 year high of $118.07. The firm’s 50 day moving average price is $74.28 and its 200 day moving average price is $80.59. The firm has a market cap of $45.61 billion, a P/E ratio of 14.12, a price-to-earnings-growth ratio of 1.79 and a beta of 1.01. 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 announced its earnings results on Monday, August 4th. The utilities provider reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.01. The firm had revenue of $8.21 billion for 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 last year, the business earned $1.33 earnings per share. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. As a group, sell-side analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Friday, August 1st were paid a dividend of $1.03 per share. The ex-dividend date of this dividend was Friday, August 1st. This represents a $4.12 dividend on an annualized basis and a yield of 5.7%. ONEOK’s dividend payout ratio (DPR) is currently 80.31%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on OKE shares. The Goldman Sachs Group started coverage on shares of ONEOK in a research report on Tuesday, September 30th. They issued a “neutral” rating and a $75.00 price target on the stock. Raymond James Financial reiterated an “outperform” rating on shares of ONEOK in a research report on Friday, August 1st. JPMorgan Chase & Co. increased their price target on shares of ONEOK from $94.00 to $97.00 and gave the company an “overweight” rating in a research report on Thursday, July 3rd. Scotiabank set a $92.00 price target on shares of ONEOK and gave the company a “sector outperform” rating in a research report on Tuesday, July 15th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of ONEOK in a research report on Saturday, September 27th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, ONEOK presently has a consensus rating of “Moderate Buy” and an average target price of $99.00.

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.