ONEOK, Inc. $OKE Shares Purchased by SFE Investment Counsel

SFE Investment Counsel increased its position in ONEOK, Inc. (NYSE:OKE) by 16.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 164,059 shares of the utilities provider’s stock after purchasing an additional 22,779 shares during the quarter. ONEOK makes up 2.4% of SFE Investment Counsel’s portfolio, making the stock its 9th largest holding. SFE Investment Counsel’s holdings in ONEOK were worth $13,392,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Access Investment Management LLC bought a new position in shares of ONEOK during the 2nd quarter worth approximately $33,000. Financial Network Wealth Advisors LLC boosted its holdings in shares of ONEOK by 2,466.7% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 385 shares of the utilities provider’s stock worth $38,000 after acquiring an additional 370 shares in the last quarter. Trust Co. of Toledo NA OH bought a new stake in ONEOK during the 2nd quarter worth approximately $42,000. Cheviot Value Management LLC acquired a new stake in ONEOK during the 1st quarter valued at $46,000. Finally, CNB Bank bought a new position in ONEOK in the 2nd quarter valued at $51,000. Institutional investors own 69.13% of the company’s stock.

Insider Buying and Selling

In other ONEOK news, Director Brian L. Derksen bought 2,500 shares of the company’s stock in a transaction on Monday, November 3rd. The stock was bought at an average price of $66.00 per share, for a total transaction of $165,000.00. Following the transaction, the director owned 21,200 shares of the company’s stock, valued at approximately $1,399,200. The trade was a 13.37% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.21% of the company’s stock.

ONEOK Price Performance

ONEOK stock opened at $68.15 on Friday. The business’s 50-day simple moving average is $70.92 and its 200 day simple moving average is $77.21. The company has a quick ratio of 0.46, a current ratio of 0.90 and a debt-to-equity ratio of 1.44. The stock has a market cap of $42.88 billion, a price-to-earnings ratio of 12.53, a P/E/G 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.

ONEOK (NYSE:OKE) last released its earnings results on Tuesday, October 28th. The utilities provider reported $1.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.48 by $0.01. The company 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 company posted $1.18 EPS. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. As a group, research analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Monday, November 3rd will be paid a $1.03 dividend. The ex-dividend date of this dividend is Monday, November 3rd. This represents a $4.12 dividend on an annualized basis and a yield of 6.0%. ONEOK’s dividend payout ratio (DPR) is presently 75.74%.

Wall Street Analysts Forecast Growth

OKE has been the topic of several research analyst reports. Wells Fargo & Company decreased their target price on ONEOK from $90.00 to $82.00 and set an “equal weight” rating on the stock in a report on Thursday, October 30th. Mizuho reduced their price target on shares of ONEOK from $87.00 to $82.00 and set a “neutral” rating on the stock in a research report on Friday, August 29th. Stifel Nicolaus set a $94.00 price objective on shares of ONEOK in a report on Thursday, October 30th. Royal Bank Of Canada lowered their price objective on shares of ONEOK from $94.00 to $88.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 13th. Finally, Scotiabank reduced 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 report on Tuesday, November 4th. 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’s stock. Based on data from MarketBeat, the company currently 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.