Modera Wealth Management LLC Acquires 1,729 Shares of ONEOK, Inc. $OKE

Modera Wealth Management LLC grew its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 46.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,444 shares of the utilities provider’s stock after acquiring an additional 1,729 shares during the quarter. Modera Wealth Management LLC’s holdings in ONEOK were worth $444,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Brighton Jones LLC lifted its stake in ONEOK by 137.1% in the 4th quarter. Brighton Jones LLC now owns 15,278 shares of the utilities provider’s stock valued at $1,534,000 after purchasing an additional 8,834 shares during the last quarter. Arizona State Retirement System grew its stake in shares of ONEOK by 10.1% during the first quarter. Arizona State Retirement System now owns 186,812 shares of the utilities provider’s stock worth $18,535,000 after buying an additional 17,167 shares during the last quarter. Mutual of America Capital Management LLC increased its holdings in shares of ONEOK by 3.1% during the first quarter. Mutual of America Capital Management LLC now owns 72,140 shares of the utilities provider’s stock worth $7,158,000 after buying an additional 2,166 shares in the last quarter. New York State Common Retirement Fund lifted its stake in shares of ONEOK by 6.5% in the 1st quarter. New York State Common Retirement Fund now owns 364,686 shares of the utilities provider’s stock valued at $36,184,000 after acquiring an additional 22,200 shares during the last quarter. Finally, Schechter Investment Advisors LLC lifted its stake in shares of ONEOK by 29.4% in the 1st quarter. Schechter Investment Advisors LLC now owns 11,132 shares of the utilities provider’s stock valued at $1,105,000 after acquiring an additional 2,528 shares during the last quarter. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

OKE has been the topic of a number of research reports. Scotiabank reduced their price objective on ONEOK from $88.00 to $87.00 and set a “sector outperform” rating on the stock in a research report on Tuesday, November 4th. Wells Fargo & Company cut their price target on ONEOK from $90.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 30th. Raymond James Financial restated an “outperform” rating and set a $82.00 price target (down from $100.00) on shares of ONEOK in a report on Friday, October 24th. Weiss Ratings reiterated a “hold (c+)” rating on shares of ONEOK in a report on Wednesday, October 8th. Finally, Barclays cut their target price on shares of ONEOK from $83.00 to $78.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 9th. One 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $91.94.

ONEOK Stock Up 0.5%

Shares of NYSE OKE opened at $68.15 on Monday. The company’s 50 day moving average price is $70.92 and its 200-day moving average price is $77.15. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.46 and a current ratio of 0.90. ONEOK, Inc. has a 52-week low of $64.02 and a 52-week high of $118.07. The company has a market capitalization of $42.88 billion, a P/E ratio of 12.53, a price-to-earnings-growth ratio of 2.62 and a beta of 1.05.

ONEOK (NYSE:OKE) last posted its quarterly earnings data 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 company 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. Equities analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Announces Dividend

The firm 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 $1.03 dividend. The ex-dividend date of this dividend is Monday, November 3rd. This represents a $4.12 annualized dividend and a dividend yield of 6.0%. ONEOK’s dividend payout ratio (DPR) is 75.74%.

Insider Activity

In other ONEOK news, Director Brian L. Derksen acquired 2,500 shares of the company’s stock in a transaction dated Monday, November 3rd. The shares were bought at an average cost of $66.00 per share, with a total value of $165,000.00. Following the purchase, the director directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.21% of the stock is owned by corporate insiders.

About ONEOK

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.