ONEOK (NYSE:OKE) Director Purchases $165,000.00 in Stock

ONEOK, Inc. (NYSE:OKE) Director Brian Derksen acquired 2,500 shares of the stock in a transaction that occurred on Monday, November 3rd. The shares were bought 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 directly owned 21,200 shares of the company’s stock, valued at $1,399,200. This represents a 13.37% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink.

ONEOK Stock Up 0.5%

OKE stock opened at $68.15 on Friday. The company has a 50 day moving average of $70.92 and a two-hundred day moving average of $77.25. The company has a market cap of $42.88 billion, a price-to-earnings ratio of 12.53, a PEG 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 quick ratio of 0.46, a current ratio of 0.90 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 analysts’ consensus estimates of $1.48 by $0.01. The business had revenue of $9.17 billion for the quarter, compared to the consensus estimate of $8.23 billion. ONEOK had a net margin of 10.58% and a return on equity of 15.12%. During the same period in the prior year, the business posted $1.18 earnings per share. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. On average, equities analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Monday, November 3rd will be issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 6.0%. The ex-dividend date is Monday, November 3rd. ONEOK’s payout ratio is currently 75.74%.

Institutional Trading of ONEOK

Hedge funds have recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in ONEOK in the 2nd quarter worth $562,832,000. Vanguard Group Inc. raised its position in shares of ONEOK by 7.2% during the first quarter. Vanguard Group Inc. now owns 75,196,969 shares of the utilities provider’s stock valued at $7,461,043,000 after buying an additional 5,076,705 shares during the last quarter. Nuveen LLC bought a new stake in shares of ONEOK in the first quarter valued at about $440,535,000. Boston Partners acquired a new stake in ONEOK during the first quarter worth about $353,596,000. Finally, First Eagle Investment Management LLC grew its position in ONEOK by 130.8% during the second quarter. First Eagle Investment Management LLC now owns 6,256,173 shares of the utilities provider’s stock worth $510,691,000 after buying an additional 3,545,256 shares in the last quarter. Institutional investors own 69.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Scotiabank lowered their price target on ONEOK from $88.00 to $87.00 and set a “sector outperform” rating for the company in a research note on Tuesday. Stifel Nicolaus set a $94.00 target price on shares of ONEOK in a research report on Thursday, October 30th. Wells Fargo & Company dropped their price target 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. Mizuho reduced their price objective on shares of ONEOK from $87.00 to $82.00 and set a “neutral” rating for the company in a research note on Friday, August 29th. Finally, Argus upgraded shares of ONEOK from a “hold” rating to a “buy” rating and set a $79.00 price objective for the company in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $91.94.

ONEOK Company 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.