Linden Thomas Advisory Services LLC Raises Stock Holdings in ONEOK, Inc. $OKE

Linden Thomas Advisory Services LLC raised its holdings in ONEOK, Inc. (NYSE:OKE) by 4.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 25,813 shares of the utilities provider’s stock after buying an additional 1,072 shares during the quarter. Linden Thomas Advisory Services LLC’s holdings in ONEOK were worth $2,107,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Financial Network Wealth Advisors LLC raised its stake in ONEOK by 2,466.7% in the first quarter. Financial Network Wealth Advisors LLC now owns 385 shares of the utilities provider’s stock valued at $38,000 after buying an additional 370 shares during the last quarter. MorganRosel Wealth Management LLC purchased a new stake in ONEOK in the first quarter valued at about $39,000. Financial Gravity Asset Management Inc. purchased a new stake in ONEOK in the first quarter valued at about $40,000. Cheviot Value Management LLC purchased a new stake in ONEOK in the first quarter valued at about $46,000. Finally, North Capital Inc. purchased a new stake in ONEOK in the first quarter valued at about $48,000. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

ONEOK Stock Down 1.7%

Shares of OKE stock opened at $68.60 on Friday. The stock has a 50 day moving average of $72.40 and a 200 day moving average of $78.42. The company has a current ratio of 0.59, a quick ratio of 0.46 and a debt-to-equity ratio of 1.35. The stock has a market cap of $43.20 billion, a P/E ratio of 13.37, a P/E/G ratio of 2.68 and a beta of 1.01. ONEOK, Inc. has a twelve month low of $66.56 and a twelve month high of $118.07.

ONEOK (NYSE:OKE) last announced its quarterly 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 company had revenue of $8.21 billion during the quarter, compared to analysts’ expectations of $7.20 billion. ONEOK had a return on equity of 14.90% and a net margin of 11.06%.During the same period 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 expect that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Monday, November 3rd will be given a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 6.0%. The ex-dividend date is Monday, November 3rd. ONEOK’s dividend payout ratio (DPR) is currently 80.31%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on OKE. TD Cowen began coverage on ONEOK in a research note on Monday, July 7th. They issued a “hold” rating and a $91.00 price target for the company. Mizuho cut their price objective on ONEOK from $87.00 to $82.00 and set a “neutral” rating on the stock in a report on Friday, August 29th. Weiss Ratings reissued a “hold (c+)” rating on shares of ONEOK in a report on Saturday. Morgan Stanley cut their price objective on ONEOK from $122.00 to $110.00 and set an “overweight” rating on the stock in a report on Tuesday, August 26th. Finally, The Goldman Sachs Group assumed coverage on ONEOK in a report on Tuesday, September 30th. They issued a “neutral” rating and a $75.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, ONEOK presently has an average rating of “Moderate Buy” and an average price target of $96.40.

About ONEOK

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.