Concurrent Investment Advisors LLC Purchases 14,351 Shares of ONEOK, Inc. $OKE

Concurrent Investment Advisors LLC boosted its position in ONEOK, Inc. (NYSE:OKE) by 8.8% during the 2nd quarter, HoldingsChannel reports. The firm owned 176,800 shares of the utilities provider’s stock after purchasing an additional 14,351 shares during the period. Concurrent Investment Advisors LLC’s holdings in ONEOK were worth $15,371,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Pin Oak Investment Advisors Inc. bought a new stake in ONEOK during the second quarter valued at approximately $28,000. Zions Bancorporation National Association UT raised its position in ONEOK by 73.3% in the fourth quarter. Zions Bancorporation National Association UT now owns 338 shares of the utilities provider’s stock worth $25,000 after acquiring an additional 143 shares during the period. Portus Wealth Advisors LLC bought a new position in ONEOK in the first quarter worth approximately $33,000. Transamerica Financial Advisors LLC boosted its stake in shares of ONEOK by 69.6% during the 2nd quarter. Transamerica Financial Advisors LLC now owns 363 shares of the utilities provider’s stock worth $32,000 after acquiring an additional 149 shares during the last quarter. Finally, Elyxium Wealth LLC bought a new stake in shares of ONEOK during the 4th quarter valued at $29,000. 69.13% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Wall Street Zen raised ONEOK from a “sell” rating to a “hold” rating in a report on Sunday, August 9th. US Capital Advisors cut ONEOK from a “strong-buy” rating to a “moderate buy” rating in a research report on Thursday, August 20th. Truist Financial raised their price objective on ONEOK from $93.00 to $104.00 and gave the stock a “hold” rating in a research note on Wednesday. Royal Bank Of Canada boosted their price objective on ONEOK from $84.00 to $90.00 and gave the company a “sector perform” rating in a research note on Tuesday, July 21st. Finally, Barclays reduced their target price on shares of ONEOK from $90.00 to $88.00 and set an “equal weight” rating for the company in a report on Wednesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $95.50.

ONEOK Stock Performance

NYSE OKE opened at $95.25 on Friday. The company has a quick ratio of 0.59, a current ratio of 0.74 and a debt-to-equity ratio of 1.34. ONEOK, Inc. has a twelve month low of $64.02 and a twelve month high of $99.85. The business has a 50-day moving average price of $91.67 and a 200-day moving average price of $89.11. The firm has a market cap of $60.04 billion, a price-to-earnings ratio of 16.42, a price-to-earnings-growth ratio of 2.67 and a beta of 0.74.

ONEOK (NYSE:OKE) last posted its quarterly earnings results on Monday, August 3rd. The utilities provider reported $1.53 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.07. ONEOK had a return on equity of 16.41% and a net margin of 9.29%.The company had revenue of $12.05 billion for the quarter, compared to analysts’ expectations of $8.95 billion. During the same period in the previous year, the firm earned $1.34 EPS. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. As a group, equities research analysts predict that ONEOK, Inc. will post 5.84 EPS for the current fiscal year.

ONEOK Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Monday, August 3rd were issued a $1.07 dividend. This represents a $4.28 annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend was Monday, August 3rd. ONEOK’s payout ratio is 73.79%.

About ONEOK

ONEOK, Inc (NYSE: OKE) is a publicly traded midstream energy company headquartered in Tulsa, Oklahoma. The company owns and operates a portfolio of natural gas and natural gas liquids (NGL) pipelines, processing facilities, fractionators and storage and terminal assets. Its operations are focused on gathering, processing, transporting, fractionating and marketing NGLs and interstate natural gas, providing critical infrastructure that connects hydrocarbon production to refineries, petrochemical plants and other end markets.

ONEOK’s asset base includes pipeline systems and processing plants that move and condition natural gas, along with infrastructure for the transportation, storage and fractionation of NGLs such as ethane, propane and butane.