WBI Investments LLC Makes New $541,000 Investment in ONEOK, Inc. $OKE

WBI Investments LLC acquired a new position in shares of ONEOK, Inc. (NYSE:OKE - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 5,456 shares of the utilities provider's stock, valued at approximately $541,000.

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A number of other large investors have also recently bought and sold shares of OKE. Merit Financial Group LLC boosted its stake in shares of ONEOK by 11.4% in the 1st quarter. Merit Financial Group LLC now owns 11,505 shares of the utilities provider's stock valued at $1,142,000 after purchasing an additional 1,180 shares in the last quarter. Dark Forest Capital Management LP boosted its stake in shares of ONEOK by 409.5% in the 1st quarter. Dark Forest Capital Management LP now owns 40,372 shares of the utilities provider's stock valued at $4,006,000 after purchasing an additional 32,448 shares in the last quarter. Capital Investment Advisors LLC boosted its stake in shares of ONEOK by 3.9% in the 1st quarter. Capital Investment Advisors LLC now owns 289,997 shares of the utilities provider's stock valued at $28,774,000 after purchasing an additional 10,957 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund boosted its stake in shares of ONEOK by 146.9% in the 1st quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 18,033 shares of the utilities provider's stock valued at $1,789,000 after purchasing an additional 10,728 shares in the last quarter. Finally, Advisor Resource Council acquired a new stake in shares of ONEOK in the 1st quarter valued at approximately $511,000. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Scotiabank set a $92.00 price target on shares of ONEOK and gave the company a "sector outperform" rating in a research note on Tuesday, July 15th. Mizuho reduced their price target on shares of ONEOK from $87.00 to $82.00 and set a "neutral" rating on the stock in a research note on Friday, August 29th. JPMorgan Chase & Co. raised their price objective on shares of ONEOK from $94.00 to $97.00 and gave the company an "overweight" rating in a report on Thursday, July 3rd. Morgan Stanley dropped their price objective on shares of ONEOK from $122.00 to $110.00 and set an "overweight" rating for the company in a report on Tuesday, August 26th. Finally, Barclays set a $83.00 price objective on shares of ONEOK in a report on Thursday, August 14th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $100.60.

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Get Our Latest Research Report on OKE

ONEOK Price Performance

Shares of NYSE OKE opened at $73.35 on Friday. The company has a market capitalization of $46.19 billion, a P/E ratio of 14.30, a price-to-earnings-growth ratio of 1.74 and a beta of 1.04. ONEOK, Inc. has a 52-week low of $70.63 and a 52-week high of $118.07. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.46 and a current ratio of 0.59. The company's 50 day moving average price is $77.35 and its 200-day moving average price is $83.50.

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ONEOK (NYSE:OKE - Get Free Report) last issued its quarterly 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 the consensus estimate of $7.20 billion. ONEOK had a net margin of 11.06% and a return on equity of 14.90%. During the same quarter in the previous year, the company earned $1.33 EPS. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. Equities analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Friday, August 1st were paid a $1.03 dividend. The ex-dividend date was Friday, August 1st. This represents a $4.12 annualized dividend and a dividend yield of 5.6%. ONEOK's payout ratio is currently 80.31%.

ONEOK 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.

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