ONEOK, Inc. $OKE Shares Acquired by Elevation Point Wealth Partners LLC

Elevation Point Wealth Partners LLC lifted its stake in ONEOK, Inc. (NYSE:OKE) by 79.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,288 shares of the utilities provider’s stock after buying an additional 2,781 shares during the period. Elevation Point Wealth Partners LLC’s holdings in ONEOK were worth $513,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in ONEOK by 1.7% in the second quarter. Vanguard Group Inc. now owns 76,510,971 shares of the utilities provider’s stock valued at $6,245,591,000 after acquiring an additional 1,314,002 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of ONEOK by 2.9% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 21,570,904 shares of the utilities provider’s stock valued at $1,760,833,000 after purchasing an additional 613,674 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of ONEOK by 2.3% in the 2nd quarter. Geode Capital Management LLC now owns 15,800,797 shares of the utilities provider’s stock valued at $1,284,303,000 after purchasing an additional 355,751 shares during the period. Invesco Ltd. grew its stake in ONEOK by 25.1% during the 1st quarter. Invesco Ltd. now owns 8,339,939 shares of the utilities provider’s stock worth $827,489,000 after buying an additional 1,674,706 shares during the last quarter. Finally, Tortoise Capital Advisors L.L.C. grew its stake in ONEOK by 17.1% during the 1st quarter. Tortoise Capital Advisors L.L.C. now owns 7,171,795 shares of the utilities provider’s stock worth $711,586,000 after buying an additional 1,047,810 shares during the last quarter. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at ONEOK

In other ONEOK news, Director Brian L. Derksen purchased 2,500 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The shares were purchased at an average cost of $66.00 per share, for a total transaction of $165,000.00. Following the completion of the purchase, the director directly owned 21,200 shares in the company, valued at $1,399,200. This represents a 13.37% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.21% of the stock is owned by corporate insiders.

ONEOK Stock Up 1.2%

OKE stock opened at $72.35 on Friday. ONEOK, Inc. has a one year low of $64.02 and a one year high of $114.27. The stock has a market capitalization of $45.52 billion, a PE ratio of 13.30, a price-to-earnings-growth ratio of 2.62 and a beta of 1.05. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.46 and a current ratio of 0.90. The company has a fifty day moving average of $69.96 and a 200-day moving average of $75.85.

ONEOK (NYSE:OKE) last issued its quarterly earnings results 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. The business had revenue of $8.63 billion for the quarter, compared to analyst estimates 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 previous year, the business posted $1.18 earnings per share. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. As a group, analysts expect that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Monday, November 3rd were paid a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date of this dividend was Monday, November 3rd. ONEOK’s dividend payout ratio is 75.74%.

Analyst Ratings Changes

A number of brokerages have weighed in on OKE. Morgan Stanley reduced their price objective on ONEOK from $122.00 to $110.00 and set an “overweight” rating for the company in a research note on Tuesday, August 26th. Scotiabank reduced their price target on shares of ONEOK from $88.00 to $87.00 and set a “sector outperform” rating for the company in a research report on Tuesday, November 4th. Mizuho lowered their price objective 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. Wells Fargo & Company reduced their target price on shares of ONEOK from $90.00 to $82.00 and set an “equal weight” rating for the company in a report on Thursday, October 30th. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $72.00 price target on shares of ONEOK in a report on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, ONEOK presently has a consensus rating of “Moderate Buy” and an average price target of $89.27.

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.