Gateway Wealth Partners LLC Purchases 8,364 Shares of ONEOK, Inc. $OKE

Gateway Wealth Partners LLC raised its position in shares of ONEOK, Inc. (NYSE:OKE) by 130.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,798 shares of the utilities provider’s stock after acquiring an additional 8,364 shares during the period. Gateway Wealth Partners LLC’s holdings in ONEOK were worth $1,338,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Zions Bancorporation National Association UT boosted its stake in ONEOK by 73.3% during the 4th quarter. Zions Bancorporation National Association UT now owns 338 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 143 shares during the period. Elyxium Wealth LLC acquired a new position in ONEOK during the fourth quarter worth $29,000. Cornerstone Financial Management LLC bought a new position in shares of ONEOK during the fourth quarter valued at $29,000. SRH Advisors LLC lifted its holdings 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 acquiring an additional 241 shares during the period. Finally, Portus Wealth Advisors LLC acquired a new stake in shares of ONEOK in the 1st quarter valued at $33,000. 69.13% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on OKE. Raymond James Financial reaffirmed an “outperform” rating and issued a $92.00 target price on shares of ONEOK in a report on Thursday, April 30th. Jefferies Financial Group lifted their price target on shares of ONEOK from $98.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, April 8th. TD Cowen upped their price objective on shares of ONEOK from $85.00 to $90.00 and gave the stock a “hold” rating in a research note on Thursday, July 16th. Truist Financial upped their price objective on shares of ONEOK from $91.00 to $93.00 and gave the stock a “hold” rating in a research note on Monday, May 4th. Finally, Wall Street Zen upgraded shares of ONEOK from a “sell” rating to a “hold” rating in a research note on Tuesday, May 26th. Eight analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, ONEOK currently has an average rating of “Hold” and an average target price of $92.44.

ONEOK Stock Down 0.5%

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

ONEOK (NYSE:OKE) last released its earnings results on Tuesday, April 28th. The utilities provider reported $1.23 earnings per share for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.07). ONEOK had a return on equity of 16.06% and a net margin of 10.03%.The firm had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $8.23 billion. During the same quarter in the previous year, the firm earned $1.04 EPS. On average, analysts predict that ONEOK, Inc. will post 5.65 earnings per share for the current year.

ONEOK Announces Dividend

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

ONEOK News Summary

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.