Talon Private Wealth LLC Buys New Shares in ONEOK, Inc. $OKE

Talon Private Wealth LLC acquired a new stake in shares of ONEOK, Inc. (NYSE:OKE) in the 1st quarter, Holdings Channel.com reports. The institutional investor acquired 19,681 shares of the utilities provider’s stock, valued at approximately $1,779,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Zions Bancorporation National Association UT lifted its position in ONEOK by 73.3% during the 4th 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 in the last quarter. Elyxium Wealth LLC acquired a new stake in ONEOK in the fourth quarter valued at approximately $29,000. Cornerstone Financial Management LLC acquired a new stake in ONEOK in the fourth quarter valued at approximately $29,000. SRH Advisors LLC raised its stake in shares of ONEOK by 122.3% during the fourth quarter. SRH Advisors LLC now owns 438 shares of the utilities provider’s stock valued at $32,000 after purchasing an additional 241 shares during the period. Finally, Portus Wealth Advisors LLC purchased a new stake in shares of ONEOK during the first quarter valued at approximately $33,000. 69.13% of the stock is currently owned by institutional investors and hedge funds.

ONEOK Stock Performance

Shares of NYSE OKE opened at $89.00 on Wednesday. The company has a quick ratio of 0.56, a current ratio of 0.71 and a debt-to-equity ratio of 1.37. The firm’s 50-day moving average price is $89.27 and its two-hundred day moving average price is $86.31. ONEOK, Inc. has a 52-week low of $64.02 and a 52-week high of $96.07. The stock has a market capitalization of $56.08 billion, a P/E ratio of 15.86, a P/E/G ratio of 4.84 and a beta of 0.73.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Tuesday, April 28th. The utilities provider reported $1.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.30 by ($0.07). ONEOK had a net margin of 10.03% and a return on equity of 16.06%. The firm had revenue of $9.62 billion for the quarter, compared to analyst estimates of $8.23 billion. During the same period last year, the firm posted $1.04 EPS. As a group, sell-side analysts forecast that ONEOK, Inc. will post 5.65 earnings per share for the current year.

ONEOK Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Monday, August 3rd will be paid a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date is Monday, August 3rd. ONEOK’s payout ratio is currently 76.29%.

Wall Street Analyst Weigh In

OKE has been the topic of a number of recent analyst reports. Weiss Ratings upgraded shares of ONEOK from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, May 18th. Barclays reduced their price target on ONEOK from $90.00 to $88.00 and set an “equal weight” rating for the company in a report on Wednesday, July 8th. Wall Street Zen upgraded ONEOK from a “sell” rating to a “hold” rating in a research note on Tuesday, May 26th. Freedom Capital upgraded ONEOK from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 5th. Finally, JPMorgan Chase & Co. upped their target price on ONEOK from $91.00 to $92.00 and gave the company a “neutral” rating in a research report on Friday, May 8th. Eight analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $92.44.

Key ONEOK News

Here are the key news stories impacting ONEOK this week:

• Positive Sentiment: ONEOK reaffirmed its quarterly dividend at $1.07 per share, maintaining an annualized payout of $4.28. The commitment supports the stock’s income appeal, particularly as midstream companies continue to generate strong free cash flow that can fund dividends and buybacks. ONEOK affirms dividend ahead of earnings Midstream and MLP free cash flow
• Positive Sentiment: Valuation coverage argues that OKE remains reasonably priced after delivering a roughly 126% total return over five years, with discounted-cash-flow and market-multiple estimates placing fair value above the recent share price. Zacks also identifies the company as attractive for momentum and long-term growth-oriented investors. ONEOK valuation analysis ONEOK momentum stock analysis
• Neutral Sentiment: Analysts expect earnings to grow, but ONEOK’s consensus analyst rating remains “Hold,” suggesting limited conviction ahead of the report. Investors will be watching results and management guidance for confirmation of the growth outlook. ONEOK consensus rating
• Negative Sentiment: Recent trading showed OKE weakening even as the broader market rose. Zacks also noted that the company lacks the two key indicators typically associated with a likely earnings beat, increasing near-term event risk. ONEOK previously reported quarterly EPS below consensus, making the upcoming earnings release especially important. ONEOK earnings expectations

ONEOK Profile

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.