Diversified Trust Co Increases Stock Position in ONEOK, Inc. $OKE

Diversified Trust Co lifted its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 9.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,864 shares of the utilities provider’s stock after buying an additional 585 shares during the quarter. Diversified Trust Co’s holdings in ONEOK were worth $560,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of OKE. Brighton Jones LLC lifted its stake in shares of ONEOK by 137.1% during the 4th quarter. Brighton Jones LLC now owns 15,278 shares of the utilities provider’s stock valued at $1,534,000 after buying an additional 8,834 shares in the last quarter. State of Wyoming purchased a new stake in ONEOK in the 4th quarter worth approximately $66,000. Mackenzie Financial Corp lifted its stake in ONEOK by 2.8% in the 4th quarter. Mackenzie Financial Corp now owns 95,599 shares of the utilities provider’s stock worth $9,598,000 after purchasing an additional 2,562 shares in the last quarter. Ameriflex Group Inc. purchased a new stake in ONEOK in the 4th quarter worth approximately $83,000. Finally, Jefferies Financial Group Inc. purchased a new stake in ONEOK in the 4th quarter worth approximately $1,107,000. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

ONEOK Price Performance

OKE stock opened at $72.52 on Wednesday. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.46 and a current ratio of 0.59. ONEOK, Inc. has a 52 week low of $70.63 and a 52 week high of $118.07. The firm’s fifty day moving average is $75.99 and its 200 day moving average is $82.21. The firm has a market cap of $45.67 billion, a P/E ratio of 14.14, a P/E/G ratio of 1.76 and a beta of 1.04.

ONEOK (NYSE:OKE) last released its earnings results on Monday, August 4th. The utilities provider reported $1.34 EPS for the quarter, beating the consensus estimate of $1.33 by $0.01. ONEOK had a net margin of 11.06% and a return on equity of 14.90%. The company had revenue of $8.21 billion for the quarter, compared to analyst estimates of $7.20 billion. During the same quarter last year, the firm earned $1.33 EPS. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. Research analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Friday, August 1st were issued a dividend of $1.03 per share. The ex-dividend date of this dividend was Friday, August 1st. This represents a $4.12 annualized dividend and a dividend yield of 5.7%. ONEOK’s dividend payout ratio (DPR) is currently 80.31%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on OKE. Morgan Stanley lowered their target price on shares of ONEOK from $122.00 to $110.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 26th. Raymond James Financial reiterated an “outperform” rating on shares of ONEOK in a research note on Friday, August 1st. Barclays set a $83.00 target price on shares of ONEOK in a research note on Thursday, August 14th. Mizuho lowered their target price 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. Finally, Scotiabank set a $92.00 target price on shares of ONEOK and gave the stock a “sector outperform” rating in a research note on Tuesday, July 15th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, ONEOK has a consensus rating of “Moderate Buy” and a consensus target price of $100.60.

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.