Date: September 19, 2023
Advisory Resource Group Increases Stake in ONEOK, Inc.
Advisory Resource Group, an institutional investor, has recently disclosed its increased position in ONEOK, Inc. (NYSE:OKE). According to the company’s most recent disclosure with the Securities & Exchange Commission, Advisory Resource Group raised its stake by 31.4% during the second quarter. This move saw the institutional investor acquire an additional 1,940 shares of the utilities provider’s stock, bringing their total holdings to 8,120 shares. As of the last SEC filing, these shares were valued at $501,000.
ONEOK (NYSE:OKE) is a prominent utilities provider that recently reported its quarterly earnings results on Monday, August 7th. The company surpassed analysts’ consensus estimates for the quarter with earnings per share of $1.04, exceeding expectations by $0.04 per share. However, despite beating on earnings, ONEOK fell short on revenue expectations for the same period. The utilities provider reported revenue of $3.73 billion compared to the consensus estimate of $4.13 billion.
Despite this discrepancy in revenue figures, ONEOK maintains a healthy net margin of 12.68% and a return on equity of 35.84%. These numbers showcase the company’s ability to generate profits while efficiently utilizing shareholder investments.
Comparing this quarter’s performance to the same period last year reveals significant growth for ONEOK. In Q2 of the previous year, EPS stood at $0.92 while it reached an impressive $1.04 this time around.
Equity analysts are closely monitoring ONEOK’s performance and anticipate that it will post earnings per share of approximately $5.63 for the current fiscal year.
This latest report on ONEOK provides valuable insights into the company’s financial standing and recent developments that may influence market sentiment towards its stock. Investors and analysts alike will keenly observe how the increased stake by Advisory Resource Group and ONEOK’s upcoming earnings announcements shape the future trajectory of this utilities provider.
Please refer to our comprehensive report on ONEOK for further analysis and a more in-depth view of its financials and potential growth prospects.
Disclaimer: The information provided is based on publicly available sources deemed reliable. This article does not constitute financial advice. Readers are encouraged to conduct their own research and seek professional guidance before making any investment decisions.
Royal Bank of Canada
RY
Strong Buy
Updated on: 19/09/2023
Financial Health
Very Healthy
Debt to equity ratio: Strong Buy
Price to earnings ratio: Strong Buy
Price to book ratio: Strong Buy
DCF: Strong Buy
ROE: Neutral
Institutional Investors Raise Questions about ONEOK’s Future Trajectory
In recent months, several notable investors have made significant moves with their stakes in ONEOK, Inc. (NYSE:OKE), leaving many in the financial community perplexed about the company’s future trajectory. Resurgent Financial Advisors LLC and WealthPLAN Partners LLC both acquired new stakes in ONEOK during the first quarter of this year, each worth around $29,000. Additionally, Grove Bank & Trust increased their stake by an astonishing 211.2% during the same period.
One cannot overlook Worth Asset Management LLC’s acquisition of a stake in ONEOK for a sum of $30,000 in the first quarter. Quarry LP also joined the bandwagon by purchasing a new position worth approximately $31,000. These actions by prominent institutional investors have raised eyebrows within the investment realm.
As it stands today, institutional investors own an astounding 68.87% of ONEOK’s stock – a figure that demands attention and raises questions about market dynamics. It is unclear what exactly is driving these large-scale investment decisions and whether they are indicative of forthcoming changes within the company itself.
NYSE:OKE opened at $68.19 on September 19th, marking another day in which uncertainty looms over its future prospects. The utilities provider boasts a current ratio of 1.23 and a quick ratio of 0.92, indicating that it possesses sufficient liquidity to meet its short-term obligations promptly.
With a debt-to-equity ratio standing at 1.77, ONEOK has relied moderately on borrowed funds to finance its operations and growth initiatives. This steady reliance may raise concerns among potential investors who prefer companies with lower levels of debt.
ONEOK has experienced price volatility over the past year, with its stock ranging from a low of $50.50 to a high of $71.57 during this period. Currently valued at $30.53 billion, the company operates with a price-to-earnings ratio of 12.58 and a PEG ratio of 1.82. These figures may suggest that ONEOK is relatively undervalued compared to its industry peers.
Technical analysis reveals a 50-day moving average price of $65.45, slightly below the stock’s two-hundred day moving average of $63.30. This suggests potential short-term fluctuations in the stock’s value, which investors should take into consideration when making their investment decisions.
Shareholders were recently pleased to receive a quarterly dividend on Monday, August 14th, after being recorded on Tuesday, August 1st. The amount distributed per share was $0.955, resulting in an annualized dividend of $3.82 and an attractive yield of 5.60%. These factors contribute to the strong reputation ONEOK holds as a reliable dividend-paying stock.
Various equities research analysts have chimed in on the company’s prospects. StockNews.com downgraded ONEOK from a “buy” rating to a “hold” rating in their report released on August 16th. Conversely, Raymond James raised their price target for ONEOK from $75.00 to $78.00 and designated it as an “outperform” rating on August 14th.
Firms such as Truist Financial and Wells Fargo & Company have also provided their insights, increasing their price objectives for ONEOK to $68.00 and dropping them to $73.00 respectively during separate research reports in early August this year.
In conclusion, there exists a certain degree of perplexity surrounding recent activities involving investors’ stakes in ONEOK, Inc., leaving some uncertain about what lies ahead for the company’s welfare and direction in the financial market ecosystem. It remains critical for investors and analysts alike to closely monitor developments regarding institutional investment decisions by influential stakeholders as they strive to decipher potential implications for future outcomes within the industry sector.
Please note that this article is based on facts and figures available as of September 19, 2023, and the information provided should not be taken as financial advice.
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