Carret Asset Management LLC Acquires 4,291 Shares of ONEOK, Inc. $OKE

Carret Asset Management LLC lifted its stake in ONEOK, Inc. (NYSE:OKE) by 21.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,327 shares of the utilities provider’s stock after buying an additional 4,291 shares during the period. Carret Asset Management LLC’s holdings in ONEOK were worth $1,986,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of OKE. Financial Network Wealth Advisors LLC lifted its position 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 purchasing an additional 370 shares during the last quarter. Financial Gravity Asset Management Inc. purchased a new position in shares of ONEOK in the first quarter worth $40,000. Trust Co. of Toledo NA OH bought a new stake in ONEOK during the 2nd quarter valued at $42,000. Cheviot Value Management LLC bought a new stake in ONEOK in the 1st quarter worth $46,000. Finally, North Capital Inc. bought a new stake in ONEOK in the 1st quarter worth $48,000. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

ONEOK Trading Down 2.7%

ONEOK stock opened at $67.23 on Thursday. ONEOK, Inc. has a 12 month low of $66.56 and a 12 month high of $118.07. The company has a market capitalization of $42.34 billion, a price-to-earnings ratio of 12.36, a price-to-earnings-growth ratio of 2.70 and a beta of 1.01. The business’s fifty day simple moving average is $72.10 and its two-hundred day simple moving average is $78.08. The company has a current ratio of 0.59, a quick ratio of 0.46 and a debt-to-equity ratio of 1.35.

ONEOK (NYSE:OKE) last posted its quarterly earnings results on Tuesday, October 28th. The utilities provider reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.48 by $0.01. ONEOK had a return on equity of 15.14% and a net margin of 10.58%.The firm had revenue of $9.17 billion during the quarter, compared to analyst estimates of $8.23 billion. During the same quarter in the previous year, the firm earned $1.18 EPS. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. As a group, equities analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The company 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. The ex-dividend date of this dividend is Monday, November 3rd. This represents a $4.12 annualized dividend and a dividend yield of 6.1%. ONEOK’s dividend payout ratio (DPR) is 80.31%.

Wall Street Analyst Weigh In

OKE has been the topic of several recent analyst reports. TD Cowen assumed coverage on ONEOK in a research note on Monday, July 7th. They issued a “hold” rating and a $91.00 target price on the stock. JPMorgan Chase & Co. boosted their price objective 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. Morgan Stanley reduced their price target 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. Mizuho cut their price objective on ONEOK from $87.00 to $82.00 and set a “neutral” rating on the stock in a research report on Friday, August 29th. Finally, Scotiabank set a $92.00 target price on 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, eight have given a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus 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.