Janney Montgomery Scott LLC Purchases 217,404 Shares of ONEOK, Inc. $OKE

Janney Montgomery Scott LLC grew its holdings in ONEOK, Inc. (NYSE:OKE) by 111.0% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 413,189 shares of the utilities provider’s stock after acquiring an additional 217,404 shares during the quarter. Janney Montgomery Scott LLC owned 0.07% of ONEOK worth $35,923,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Zions Bancorporation National Association UT raised its stake in ONEOK by 73.3% in the 4th quarter. Zions Bancorporation National Association UT now owns 338 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 143 shares in the last quarter. Elyxium Wealth LLC acquired a new position in shares of ONEOK during the 4th quarter worth approximately $29,000. Cornerstone Financial Management LLC bought a new position in shares of ONEOK during the fourth quarter worth approximately $29,000. Portus Wealth Advisors LLC acquired a new stake in shares of ONEOK in the first quarter valued at approximately $33,000. Finally, Wilkerson Advisory Group LLC raised its position in shares of ONEOK by 51.4% in the first quarter. Wilkerson Advisory Group LLC now owns 392 shares of the utilities provider’s stock valued at $35,000 after buying an additional 133 shares in the last quarter. 69.13% of the stock is currently owned by institutional investors and hedge funds.

ONEOK Stock Up 2.5%

Shares of NYSE OKE opened at $94.99 on Friday. The company has a market cap of $59.88 billion, a price-to-earnings ratio of 16.38, a PEG ratio of 4.95 and a beta of 0.73. The company has a current ratio of 0.74, a quick ratio of 0.59 and a debt-to-equity ratio of 1.34. ONEOK, Inc. has a 12 month low of $64.02 and a 12 month high of $96.07. The stock has a 50-day moving average price of $89.48 and a two-hundred day moving average price of $87.61.

ONEOK (NYSE:OKE) last posted its quarterly earnings results on Monday, August 3rd. The utilities provider reported $1.53 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.07. The company had revenue of $12.05 billion for the quarter, compared to the consensus estimate of $8.95 billion. ONEOK had a net margin of 9.29% and a return on equity of 16.41%. During the same period last year, the company posted $1.34 EPS. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. As a group, analysts forecast that ONEOK, Inc. will post 5.87 earnings per share for the current fiscal year.

ONEOK Announces Dividend

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

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Truist Financial increased their target price on ONEOK from $91.00 to $93.00 and gave the stock a “hold” rating in a report on Monday, May 4th. Morgan Stanley reaffirmed an “equal weight” rating and set a $103.00 price objective (down from $113.00) on shares of ONEOK in a research report on Wednesday, July 29th. Raymond James Financial reissued an “outperform” rating and issued a $92.00 target price on shares of ONEOK in a report on Thursday, April 30th. Scotiabank cut shares of ONEOK from a “sector outperform” rating to a “sector perform” rating and dropped their target price for the company from $92.00 to $89.00 in a research report on Thursday, April 30th. Finally, Barclays cut their price target 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, seven have assigned a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, ONEOK has an average rating of “Moderate Buy” and a consensus target price of $91.81.

ONEOK Company 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.