ONEOK, Inc. $OKE is Kayne Anderson Capital Advisors LP’s 7th Largest Position

Kayne Anderson Capital Advisors LP increased its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 24.1% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,458,508 shares of the utilities provider’s stock after purchasing an additional 670,928 shares during the quarter. ONEOK accounts for about 6.5% of Kayne Anderson Capital Advisors LP’s investment portfolio, making the stock its 7th largest holding. Kayne Anderson Capital Advisors LP owned approximately 0.55% of ONEOK worth $282,318,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Golden State Wealth Management LLC lifted its position in shares of ONEOK by 13,350.0% during the second quarter. Golden State Wealth Management LLC now owns 807 shares of the utilities provider’s stock worth $66,000 after purchasing an additional 801 shares during the last quarter. Commonwealth Equity Services LLC lifted its position in shares of ONEOK by 4.6% during the second quarter. Commonwealth Equity Services LLC now owns 719,429 shares of the utilities provider’s stock worth $58,727,000 after purchasing an additional 31,934 shares during the last quarter. Sienna Gestion lifted its position in shares of ONEOK by 11.0% during the second quarter. Sienna Gestion now owns 58,683 shares of the utilities provider’s stock worth $4,373,000 after purchasing an additional 5,834 shares during the last quarter. Resona Asset Management Co. Ltd. lifted its position in shares of ONEOK by 3.9% during the second quarter. Resona Asset Management Co. Ltd. now owns 210,005 shares of the utilities provider’s stock worth $17,130,000 after purchasing an additional 7,904 shares during the last quarter. Finally, Atlantic Union Bankshares Corp bought a new position in ONEOK in the second quarter worth about $957,000. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on OKE. Citigroup cut their price target on ONEOK from $102.00 to $95.00 and set a “buy” rating on the stock in a report on Friday, October 31st. Mizuho dropped their price target on ONEOK from $87.00 to $82.00 and set a “neutral” rating on the stock in a report on Friday, August 29th. Wells Fargo & Company cut their target price on shares of ONEOK from $90.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 30th. Royal Bank Of Canada cut their target price on shares of ONEOK from $94.00 to $88.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 13th. Finally, Scotiabank cut their target price on shares of ONEOK from $88.00 to $87.00 and set a “sector outperform” rating on the stock in a research note on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, ONEOK presently has an average rating of “Moderate Buy” and an average target price of $92.80.

ONEOK Trading Up 3.1%

Shares of NYSE:OKE opened at $66.28 on Thursday. The stock has a market capitalization of $41.71 billion, a PE ratio of 12.18, a P/E/G ratio of 2.62 and a beta of 1.01. ONEOK, Inc. has a 1 year low of $64.02 and a 1 year high of $118.07. The firm has a fifty day moving average price of $71.24 and a 200 day moving average price of $77.42. 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 issued its quarterly earnings data on Tuesday, October 28th. The utilities provider reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 $9.17 billion during the quarter, compared to analysts’ expectations of $8.23 billion. During the same period in the prior year, the company posted $1.18 earnings per share. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. Analysts expect 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 will be paid on Friday, November 14th. Stockholders of record on Monday, November 3rd will be given a dividend of $1.03 per share. The ex-dividend date of this dividend is Monday, November 3rd. This represents a $4.12 dividend on an annualized basis and a dividend yield of 6.2%. ONEOK’s dividend payout ratio is currently 75.74%.

Insider Activity at ONEOK

In related news, Director Brian L. Derksen acquired 2,500 shares of the business’s stock in a transaction dated Monday, November 3rd. The stock was acquired at an average price of $66.00 per share, with a total value 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 represents a 13.37% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.21% of the company’s stock.

ONEOK Profile

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.