ELCO Management Co. LLC Purchases 1,698 Shares of ONEOK, Inc. $OKE

by · The Cerbat Gem

ELCO Management Co. LLC lifted its position in ONEOK, Inc. (NYSE:OKE – Free Report) by 9.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 18,914 shares of the utilities provider’s stock after acquiring an additional 1,698 shares during the period. ELCO Management Co. LLC’s holdings in ONEOK were worth $1,544,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in OKE. Brighton Jones LLC raised its position in shares of ONEOK by 137.1% in the 4th quarter. Brighton Jones LLC now owns 15,278 shares of the utilities provider’s stock worth $1,534,000 after acquiring an additional 8,834 shares in the last quarter. Golden State Wealth Management LLC raised its position in shares of ONEOK by 4,570.6% in the 1st quarter. Golden State Wealth Management LLC now owns 794 shares of the utilities provider’s stock worth $79,000 after acquiring an additional 777 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of ONEOK by 20.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 353,504 shares of the utilities provider’s stock worth $35,174,000 after acquiring an additional 60,915 shares in the last quarter. Sovran Advisors LLC bought a new position in shares of ONEOK in the 1st quarter worth approximately $269,000. Finally, KBC Group NV raised its position in shares of ONEOK by 2.4% in the 1st quarter. KBC Group NV now owns 49,716 shares of the utilities provider’s stock worth $4,933,000 after acquiring an additional 1,160 shares in the last quarter. Institutional investors own 69.13% of the company’s stock.

Wall Street Analysts Forecast Growth

OKE has been the subject of several research reports. Raymond James Financial reissued an “outperform” rating and issued a $82.00 target price (down previously from $100.00) on shares of ONEOK in a research report on Friday. Barclays reduced their price objective on ONEOK from $83.00 to $78.00 and set an “equal weight” rating for the company in a research report on Thursday, October 9th. The Goldman Sachs Group started coverage on ONEOK in a research report on Tuesday, September 30th. They set a “neutral” rating and a $75.00 price objective for the company. Scotiabank set a $92.00 price objective on ONEOK and gave the company a “sector outperform” rating in a research report on Tuesday, July 15th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of ONEOK in a research report on Wednesday, October 8th. 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 stock. Based on data from MarketBeat, ONEOK has a consensus rating of “Moderate Buy” and a consensus target price of $96.40.

Read Our Latest Stock Report on ONEOK

ONEOK Stock Performance

Shares of OKE opened at $69.05 on Wednesday. The business’s fifty day simple moving average is $72.23 and its two-hundred day simple moving average is $78.19. 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, Inc. has a 12 month low of $66.56 and a 12 month high of $118.07. The company has a market cap of $43.49 billion, a price-to-earnings ratio of 13.46, a P/E/G ratio of 2.70 and a beta of 1.01.

ONEOK (NYSE:OKE – Get Free Report) last issued 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. ONEOK had a return on equity of 14.90% and a net margin of 11.06%.The business had revenue of $9.17 billion for the quarter, compared to the consensus estimate of $8.23 billion. During the same period last year, the business posted $1.18 EPS. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. Research analysts anticipate 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. Stockholders of record on Monday, November 3rd will be paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 6.0%. The ex-dividend date is Monday, November 3rd. ONEOK’s dividend payout ratio (DPR) is 80.31%.

ONEOK Company Profile

(Free Report)

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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