Csenge Advisory Group Invests $584,000 in ONEOK, Inc. $OKE

by · The Markets Daily

Csenge Advisory Group acquired a new position in shares of ONEOK, Inc. (NYSE:OKE – Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 6,714 shares of the utilities provider’s stock, valued at approximately $584,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Johnson Financial Group Inc. bought a new stake in ONEOK in the 2nd quarter valued at approximately $39,000. Tocqueville Asset Management L.P. bought a new position in shares of ONEOK during the 2nd quarter worth approximately $336,000. Denali Advisors LLC acquired a new stake in shares of ONEOK in the second quarter valued at approximately $522,000. NewEdge Wealth LLC bought a new stake in shares of ONEOK in the second quarter worth $1,182,000. Finally, Amplify Investments LLC acquired a new position in ONEOK during the second quarter worth $56,000. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Trading Down 1.4%

Shares of NYSE:OKE opened at $94.69 on Friday. ONEOK, Inc. has a 52-week low of $64.02 and a 52-week high of $97.90. The company has a market capitalization of $59.69 billion, a P/E ratio of 16.33, a price-to-earnings-growth ratio of 2.69 and a beta of 0.73. The company has a 50-day simple moving average of $90.03 and a 200 day simple moving average of $88.16. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.59 and a current ratio of 0.74.

ONEOK (NYSE:OKE – Get Free Report) last posted its quarterly earnings results on Monday, August 3rd. The utilities provider reported $1.53 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.07. The business had revenue of $12.05 billion during the quarter, compared to analysts’ expectations of $8.95 billion. ONEOK had a return on equity of 16.41% and a net margin of 9.29%.During the same quarter last year, the company posted $1.34 earnings per share. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. Sell-side analysts forecast that ONEOK, Inc. will post 5.82 earnings per share for the current year.

ONEOK Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Monday, August 3rd were paid a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a dividend yield of 4.5%. The ex-dividend date was Monday, August 3rd. ONEOK’s payout ratio is currently 73.79%.

Analyst Ratings Changes

Several brokerages have commented on OKE. Raymond James Financial reissued an “outperform” rating and set a $92.00 price target on shares of ONEOK in a research report on Thursday, April 30th. JPMorgan Chase & Co. upped their target price on ONEOK from $91.00 to $92.00 and gave the stock a “neutral” rating in a report on Friday, May 8th. Scotiabank cut ONEOK from a “sector outperform” rating to a “sector perform” rating and reduced their price target for the company from $92.00 to $89.00 in a research report on Thursday, April 30th. Wells Fargo & Company decreased their price target on ONEOK from $100.00 to $98.00 and set an “overweight” rating for the company in a research note on Thursday, April 30th. Finally, Morgan Stanley upped their price objective on ONEOK from $103.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $91.94.

View Our Latest Stock Analysis on ONEOK

ONEOK Company Profile

(Free Report)

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.

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