Vestmark Advisory Solutions Inc. Acquires 1,118 Shares of ONEOK, Inc. $OKE

Vestmark Advisory Solutions Inc. boosted its holdings in ONEOK, Inc. (NYSE:OKE) by 6.1% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 19,420 shares of the utilities provider’s stock after acquiring an additional 1,118 shares during the quarter. Vestmark Advisory Solutions Inc.’s holdings in ONEOK were worth $1,585,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Financial Network Wealth Advisors LLC boosted its stake 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 valued at $38,000 after purchasing an additional 370 shares in the last quarter. Access Investment Management LLC acquired a new position in ONEOK during the 2nd quarter worth approximately $33,000. Cheviot Value Management LLC bought a new position in ONEOK in the 1st quarter valued at approximately $46,000. Trust Co. of Toledo NA OH bought a new position in ONEOK in the 2nd quarter valued at approximately $42,000. Finally, IMA Advisory Services Inc. acquired a new stake in ONEOK in the first quarter valued at approximately $57,000. Institutional investors and hedge funds own 69.13% of the company’s stock.

Insider Activity

In other news, Director Brian L. Derksen acquired 2,500 shares of ONEOK 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 owned 21,200 shares in the company, valued at $1,399,200. This trade represents a 13.37% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Morgan Stanley lowered their price target on shares of ONEOK from $122.00 to $110.00 and set an “overweight” rating for the company in a report on Tuesday, August 26th. Citigroup reduced their price objective on ONEOK from $102.00 to $95.00 and set a “buy” rating on the stock in a research report on Friday, October 31st. Argus upgraded ONEOK from a “hold” rating to a “buy” rating and set a $79.00 target price for the company in a research report on Thursday. Stifel Nicolaus set a $94.00 price target on ONEOK in a research note on Thursday, October 30th. Finally, Scotiabank reduced their price target on ONEOK from $88.00 to $87.00 and set a “sector outperform” rating on the stock in a report on Tuesday, November 4th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $91.94.

ONEOK Stock Up 0.5%

Shares of OKE opened at $68.15 on Monday. The stock’s 50-day moving average price is $70.92 and its two-hundred day moving average price is $77.15. ONEOK, Inc. has a 12 month low of $64.02 and a 12 month high of $118.07. The company has a market capitalization of $42.88 billion, a PE ratio of 12.53, a PEG ratio of 2.62 and a beta of 1.05. 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. The company had revenue of $9.17 billion during the quarter, compared to the consensus estimate of $8.23 billion. ONEOK had a return on equity of 15.12% and a net margin of 10.58%.During the same period last year, the company earned $1.18 earnings per share. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. On average, analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Announces Dividend

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 given a $1.03 dividend. The ex-dividend date is Monday, November 3rd. This represents a $4.12 dividend on an annualized basis and a dividend yield of 6.0%. ONEOK’s payout ratio is 75.74%.

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.