Recently, ONEOK (OKE) has received mixed financial evaluations but continues to be a favorite among institutional investors owning 70% of the company. Despite doing better than competitors in terms of trading, some financial advisors and asset management firms, including Raymond James & Associates and Brookstone Capital Management, decreased their holdings in the midstream service provider. However, others like Diversified Trust Co, QRG Capital Management, Sequoia Financial Advisors, and M&G Plc increased their stock positions. Amid these changes, ONEOK has plans to expand its pipeline infrastructure and recently acquired the Easton NGL pipeline system for $280M. The company's Q2 earnings surpassed estimates but fell short in revenue. Despite earnings and revenues missing estimates in Q4 and Q1, they outperformed competitors in both Q1 and Q2 2024. Evaluations of ONEOK's performance reflect its past three years' return of 72%, and investing three years ago would have offered an 82% gain. While bullish bets worth US$2.00m were placed by insiders and a dividend hike of 3.7% was announced, some nevertheless argue that the multiple is high and the dividend too low. ONEOK is however set to announce quarterly earnings on Monday.
Oneok OKE News Analytics from Thu, 18 Jan 2024 08:00:00 GMT to Sun, 18 Aug 2024 23:26:36 GMT - Rating 4 - Innovation -2 - Information 5 - Rumor -4
