Intrua Financial LLC Raises Stock Position in ONEOK, Inc. $OKE

Intrua Financial LLC boosted its stake in ONEOK, Inc. (NYSE:OKE) by 37.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,041 shares of the utilities provider’s stock after purchasing an additional 2,179 shares during the period. Intrua Financial LLC’s holdings in ONEOK were worth $656,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of ONEOK by 7.2% in the first quarter. Vanguard Group Inc. now owns 75,196,969 shares of the utilities provider’s stock worth $7,461,043,000 after acquiring an additional 5,076,705 shares during the period. Nuveen LLC purchased a new position in ONEOK in the first quarter worth about $440,535,000. Boston Partners purchased a new position in ONEOK in the first quarter worth about $353,596,000. First Eagle Investment Management LLC grew its stake in shares of ONEOK by 130.8% during the 2nd quarter. First Eagle Investment Management LLC now owns 6,256,173 shares of the utilities provider’s stock valued at $510,691,000 after purchasing an additional 3,545,256 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of ONEOK by 13.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 20,957,230 shares of the utilities provider’s stock valued at $2,079,376,000 after purchasing an additional 2,542,449 shares during the last quarter. 69.13% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. TD Cowen dropped their price objective on shares of ONEOK from $78.00 to $76.00 and set a “hold” rating on the stock in a report on Thursday, October 30th. Morgan Stanley dropped their price target on shares of ONEOK from $122.00 to $110.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 26th. The Goldman Sachs Group restated a “neutral” rating and issued a $72.00 price objective on shares of ONEOK in a research note on Monday, November 3rd. Citigroup decreased their target price on ONEOK from $102.00 to $95.00 and set a “buy” rating on the stock in a report on Friday, October 31st. Finally, Stifel Nicolaus set a $94.00 target price on ONEOK in a research report on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $89.27.

ONEOK Stock Performance

NYSE:OKE opened at $70.55 on Friday. The stock has a 50-day moving average price of $70.39 and a 200 day moving average price of $76.67. The stock has a market capitalization of $44.39 billion, a P/E ratio of 12.97, a P/E/G ratio of 2.62 and a beta of 1.05. ONEOK, Inc. has a 12-month low of $64.02 and a 12-month high of $118.07. The company has a current ratio of 0.90, a quick ratio of 0.46 and a debt-to-equity ratio of 1.44.

ONEOK (NYSE:OKE) last posted its quarterly earnings results on Tuesday, October 28th. The utilities provider reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.48 by $0.01. ONEOK had a return on equity of 15.12% and a net margin of 10.58%.The business had revenue of $8.63 billion during the quarter, compared to the consensus estimate of $8.23 billion. During the same period in the prior year, the company posted $1.18 EPS. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. Equities research analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Monday, November 3rd were paid a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 5.8%. The ex-dividend date of this dividend was Monday, November 3rd. ONEOK’s dividend payout ratio (DPR) is presently 75.74%.

Insider Transactions at ONEOK

In related news, Director Brian L. Derksen purchased 2,500 shares of the firm’s stock in a transaction on Monday, November 3rd. The shares were acquired at an average price of $66.00 per share, for a total transaction of $165,000.00. Following the purchase, the director directly owned 21,200 shares in the company, valued at $1,399,200. This trade represents a 13.37% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.21% of the company’s stock.

About ONEOK

ONEOK, Inc engages in gathering, processing, fractionation, storage, transportation, and marketing of natural gas and natural gas liquids (NGL) in the United States. It operates through four segments: Natural Gas Gathering and Processing, Natural Gas Liquids, Natural Gas Pipelines, and Refined Products and Crude.