Paradiem LLC Buys Shares of 11,284 ONEOK, Inc. $OKE

Paradiem LLC purchased a new position in shares of ONEOK, Inc. (NYSE:OKE) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 11,284 shares of the utilities provider’s stock, valued at approximately $823,000.

Several other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. grew its holdings in shares of ONEOK by 1.7% in the second quarter. Vanguard Group Inc. now owns 76,510,971 shares of the utilities provider’s stock valued at $6,245,591,000 after purchasing an additional 1,314,002 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in ONEOK by 2.9% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 21,570,904 shares of the utilities provider’s stock valued at $1,760,833,000 after buying an additional 613,674 shares during the period. Geode Capital Management LLC grew its stake in shares of ONEOK by 2.3% in the second quarter. Geode Capital Management LLC now owns 15,800,797 shares of the utilities provider’s stock worth $1,284,303,000 after acquiring an additional 355,751 shares in the last quarter. Invesco Ltd. increased its position in shares of ONEOK by 0.6% during the second quarter. Invesco Ltd. now owns 8,386,831 shares of the utilities provider’s stock worth $684,617,000 after acquiring an additional 46,892 shares during the period. Finally, Norges Bank acquired a new stake in shares of ONEOK in the second quarter valued at $562,832,000. Institutional investors and hedge funds own 69.13% of the company’s stock.

Analysts Set New Price Targets

OKE has been the subject of several analyst reports. Wells Fargo & Company lowered their target price on ONEOK from $90.00 to $82.00 and set an “equal weight” rating for the company in a research note on Thursday, October 30th. Argus raised ONEOK from a “hold” rating to a “buy” rating and set a $79.00 price objective for the company in a research report on Thursday, November 6th. Citigroup reduced their target price on shares of ONEOK from $102.00 to $95.00 and set a “buy” rating on the stock in a report on Friday, October 31st. TD Cowen lowered their price target on shares of ONEOK from $78.00 to $76.00 and set a “hold” rating for the company in a report on Thursday, October 30th. Finally, Scotiabank dropped their price objective on shares of ONEOK from $88.00 to $87.00 and set a “sector outperform” rating on the stock in a research report on Tuesday, November 4th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $88.00.

Insider Activity

In other news, Director Brian L. Derksen bought 2,500 shares of the business’s stock in a transaction dated 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 completion of the transaction, the director owned 21,200 shares of the company’s stock, valued at approximately $1,399,200. This trade represents a 13.37% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.21% of the company’s stock.

ONEOK Stock Performance

Shares of ONEOK stock opened at $72.83 on Friday. The company has a quick ratio of 0.75, a current ratio of 0.90 and a debt-to-equity ratio of 1.44. ONEOK, Inc. has a 52 week low of $64.02 and a 52 week high of $111.02. The firm’s 50 day moving average is $70.76 and its two-hundred day moving average is $74.54. The firm has a market capitalization of $45.82 billion, a P/E ratio of 13.39, a P/E/G ratio of 4.45 and a beta of 0.95.

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

ONEOK Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Monday, November 3rd were paid a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 5.7%. The ex-dividend date was Monday, November 3rd. ONEOK’s dividend payout ratio is currently 75.74%.

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.