AlphaStar Capital Management LLC Buys Shares of 3,505 ONEOK, Inc. $OKE

AlphaStar Capital Management LLC bought a new stake in ONEOK, Inc. (NYSE:OKE) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 3,505 shares of the utilities provider’s stock, valued at approximately $286,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Creative Financial Designs Inc. ADV raised its position in ONEOK by 7.5% in the second quarter. Creative Financial Designs Inc. ADV now owns 4,756 shares of the utilities provider’s stock valued at $388,000 after purchasing an additional 332 shares during the period. Simon Quick Advisors LLC increased its position in shares of ONEOK by 25.4% during the second quarter. Simon Quick Advisors LLC now owns 3,502 shares of the utilities provider’s stock worth $286,000 after acquiring an additional 709 shares during the period. Strs Ohio increased its position in shares of ONEOK by 54.6% during the second quarter. Strs Ohio now owns 115,937 shares of the utilities provider’s stock worth $9,464,000 after acquiring an additional 40,937 shares during the period. Atria Investments Inc increased its position in shares of ONEOK by 17.2% during the second quarter. Atria Investments Inc now owns 34,928 shares of the utilities provider’s stock worth $2,851,000 after acquiring an additional 5,133 shares during the period. Finally, Carret Asset Management LLC increased its position in shares of ONEOK by 21.4% during the second quarter. Carret Asset Management LLC now owns 24,327 shares of the utilities provider’s stock worth $1,986,000 after acquiring an additional 4,291 shares during the period. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Stock Performance

NYSE:OKE opened at $67.09 on Friday. The firm has a market capitalization of $42.25 billion, a PE ratio of 12.33, a price-to-earnings-growth ratio of 2.62 and a beta of 1.01. The business’s fifty day moving average price is $71.81 and its 200 day moving average price is $77.85. The company has a debt-to-equity ratio of 1.44, a current ratio of 0.90 and a quick ratio of 0.46. ONEOK, Inc. has a 12 month low of $65.89 and a 12 month high of $118.07.

ONEOK (NYSE:OKE) last posted its earnings results on Tuesday, October 28th. The utilities provider reported $1.49 EPS for the quarter, beating the consensus estimate of $1.48 by $0.01. The firm had revenue of $9.17 billion for the quarter, compared to analyst estimates of $8.23 billion. ONEOK had a return on equity of 15.12% and a net margin of 10.58%.During the same quarter in the prior year, the company posted $1.18 earnings per share. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. On average, sell-side analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Monday, November 3rd will be paid a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 6.1%. The ex-dividend date is Monday, November 3rd. ONEOK’s dividend payout ratio is currently 75.74%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on OKE shares. Wells Fargo & Company cut their price objective on ONEOK from $90.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Thursday. Morgan Stanley cut their price objective on ONEOK from $122.00 to $110.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 26th. Raymond James Financial reaffirmed an “outperform” rating and set a $82.00 price objective (down previously from $100.00) on shares of ONEOK in a research report on Friday, October 24th. 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, Barclays dropped their target price on ONEOK from $83.00 to $78.00 and set an “equal weight” rating on the stock in a report on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $93.33.

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.