ONEOK, Inc. $OKE Shares Sold by Strs Ohio

Strs Ohio cut its position in shares of ONEOK, Inc. (NYSE:OKE) by 6.0% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 108,943 shares of the utilities provider’s stock after selling 6,994 shares during the period. Strs Ohio’s holdings in ONEOK were worth $7,950,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in OKE. Brighton Jones LLC boosted its holdings in shares of ONEOK by 137.1% during the fourth quarter. Brighton Jones LLC now owns 15,278 shares of the utilities provider’s stock valued at $1,534,000 after acquiring an additional 8,834 shares during the period. Empowered Funds LLC lifted its position in 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 purchasing an additional 137 shares during the last quarter. Acadian Asset Management LLC acquired a new position in ONEOK during the 1st quarter valued at about $216,000. TD Private Client Wealth LLC grew its position in ONEOK by 33.9% in the 2nd quarter. TD Private Client Wealth LLC now owns 7,217 shares of the utilities provider’s stock worth $589,000 after purchasing an additional 1,827 shares during the last quarter. Finally, Perigon Wealth Management LLC grew its position in ONEOK by 3.2% in the 2nd quarter. Perigon Wealth Management LLC now owns 11,897 shares of the utilities provider’s stock worth $971,000 after purchasing an additional 371 shares during the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

Analyst Upgrades and Downgrades

OKE has been the subject of several analyst reports. Stifel Nicolaus set a $94.00 price objective on ONEOK in a research report on Thursday, October 30th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $72.00 target price on shares of ONEOK in a research note on Monday, November 3rd. Weiss Ratings reissued a “hold (c)” rating on shares of ONEOK in a research note on Monday, December 29th. Wells Fargo & Company lowered their price target on ONEOK from $90.00 to $82.00 and set an “equal weight” rating on the stock in a report on Thursday, October 30th. Finally, Scotiabank reaffirmed an “outperform” rating and issued a $91.00 price objective on shares of ONEOK in a report on Friday, January 16th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, ONEOK presently has a consensus rating of “Moderate Buy” and a consensus target price of $88.56.

ONEOK Stock Down 0.7%

Shares of ONEOK stock opened at $78.02 on Monday. ONEOK, Inc. has a 12-month low of $64.02 and a 12-month high of $105.86. The firm has a market capitalization of $49.09 billion, a PE ratio of 14.34, a price-to-earnings-growth ratio of 4.42 and a beta of 0.94. The company has a quick ratio of 0.75, a current ratio of 0.90 and a debt-to-equity ratio of 1.44. The stock’s fifty day moving average is $73.12 and its 200-day moving average is $73.44.

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

ONEOK Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Monday, February 2nd will be issued a dividend of $1.07 per share. This is an increase from ONEOK’s previous quarterly dividend of $1.03. This represents a $4.28 dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date is Monday, February 2nd. ONEOK’s dividend payout ratio (DPR) is presently 75.74%.

Insider Activity at ONEOK

In other news, Director Brian L. Derksen acquired 2,500 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The stock was purchased at an average price of $66.00 per share, with a total value of $165,000.00. Following the purchase, 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 position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.20% of the company’s stock.

About ONEOK

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.