ONEOK, Inc. $OKE Shares Sold by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC lowered its holdings in ONEOK, Inc. (NYSE:OKE) by 9.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 208,939 shares of the utilities provider’s stock after selling 22,713 shares during the quarter. Gateway Investment Advisers LLC’s holdings in ONEOK were worth $15,246,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Bogart Wealth LLC boosted its holdings in ONEOK by 3.1% in the second quarter. Bogart Wealth LLC now owns 4,031 shares of the utilities provider’s stock valued at $329,000 after purchasing an additional 122 shares during the last quarter. Presima Securities ULC lifted its holdings in shares of ONEOK by 1.4% in the 1st quarter. Presima Securities ULC now owns 9,477 shares of the utilities provider’s stock valued at $940,000 after buying an additional 127 shares during the period. Empowered Funds LLC lifted its holdings in shares of ONEOK by 0.8% in the 1st quarter. Empowered Funds LLC now owns 17,957 shares of the utilities provider’s stock valued at $1,782,000 after buying an additional 137 shares during the period. MJT & Associates Financial Advisory Group Inc. boosted its stake in shares of ONEOK by 5.8% in the second quarter. MJT & Associates Financial Advisory Group Inc. now owns 2,540 shares of the utilities provider’s stock worth $207,000 after buying an additional 140 shares during the last quarter. Finally, Focused Wealth Management Inc grew its holdings in ONEOK by 4.3% during the third quarter. Focused Wealth Management Inc now owns 3,441 shares of the utilities provider’s stock worth $251,000 after acquiring an additional 142 shares during the period. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Insider Activity

In other news, Director Brian L. Derksen purchased 2,500 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The stock was purchased at an average cost 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 $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 SEC, which is available through the SEC website. 0.21% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

OKE has been the subject of a number of analyst reports. Argus raised ONEOK from a “hold” rating to a “buy” rating and set a $79.00 price target for the company in a report on Thursday, November 6th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $72.00 target price on shares of ONEOK in a research note on Monday, November 3rd. Stifel Nicolaus set a $94.00 price target on shares of ONEOK in a report on Thursday, October 30th. Raymond James Financial reaffirmed an “outperform” rating and issued a $82.00 price objective (down previously from $100.00) on shares of ONEOK in a report on Friday, October 24th. Finally, Scotiabank decreased their price objective on shares of ONEOK from $88.00 to $87.00 and set a “sector outperform” rating for the company in a research report on Tuesday, November 4th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, ONEOK presently has an average rating of “Moderate Buy” and a consensus target price of $88.00.

ONEOK Stock Up 1.1%

Shares of NYSE OKE opened at $74.28 on Friday. The firm has a market cap of $46.74 billion, a price-to-earnings ratio of 13.65, a price-to-earnings-growth ratio of 4.15 and a beta of 0.94. The company’s 50-day simple moving average is $71.22 and its 200-day simple moving average is $74.24. 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.

ONEOK (NYSE:OKE) last released 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 net margin of 10.58% and a return on equity of 15.12%. The firm had revenue of $8.63 billion during the quarter, compared to the consensus estimate of $8.23 billion. During the same quarter in the prior year, the firm earned $1.18 EPS. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. Equities analysts predict that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Monday, November 3rd were given a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 5.5%. The ex-dividend date was Monday, November 3rd. ONEOK’s dividend payout ratio (DPR) is 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.