SG Americas Securities and Opal Wealth Advisors adjusted their holdings in ONEOK (OKE), while EverSource Wealth Advisors acquired additional shares. OKE announced Q2 2024 earnings with revenues missing the estimates but EPS beating. Their stock outperformed competitors and received an upgraded Composite Rating. The company increased its quarterly dividend and launched a share repurchase program, revealing plans to expand its pipeline connectivity to Denver. Margins at Williston processing remain a concern. Other important developments include the acquisition of Easton's NGL Pipeline System for $280M, and raised earnings guidance for FY 2024. The company remains favored by institutional owners, holding 70% of OKE. The stock has brought decent returns of 72% over three years. Concerns have been raised over the high multiples and low dividends. Market slips have not deterred the gain in OKE's market value. A continuous rise in earnings estimates suggests financial stability, and the upcoming dividend yield is 4.9%. ONEOK plans to maintain the dividend at 99 cents per share.
Oneok OKE News Analytics from Wed, 17 Jan 2024 08:00:00 GMT to Sun, 11 Aug 2024 15:32:06 GMT -
Rating 8
- Innovation -2
- Information 7
- Rumor -1
