Candriam S.C.A. Decreases Stock Position in ONEOK, Inc. $OKE

Candriam S.C.A. lessened its stake in ONEOK, Inc. (NYSE:OKE) by 14.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 48,557 shares of the utilities provider’s stock after selling 7,962 shares during the period. Candriam S.C.A.’s holdings in ONEOK were worth $3,964,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of OKE. Access Investment Management LLC bought a new stake in ONEOK in the second quarter valued at approximately $33,000. Financial Network Wealth Advisors LLC increased its stake in shares of ONEOK by 2,466.7% in the first quarter. Financial Network Wealth Advisors LLC now owns 385 shares of the utilities provider’s stock worth $38,000 after buying an additional 370 shares during the period. Trust Co. of Toledo NA OH bought a new stake in ONEOK during the 2nd quarter valued at $42,000. Cheviot Value Management LLC purchased a new stake in ONEOK during the 1st quarter valued at $46,000. Finally, CNB Bank bought a new stake in ONEOK in the 2nd quarter worth $51,000. 69.13% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on OKE. Barclays lowered their price objective on shares of ONEOK from $83.00 to $78.00 and set an “equal weight” rating for the company in a research note on Thursday, October 9th. Mizuho lowered their price target on ONEOK from $87.00 to $82.00 and set a “neutral” rating for the company in a research report on Friday, August 29th. Raymond James Financial reiterated an “outperform” rating and issued a $82.00 price objective (down from $100.00) on shares of ONEOK in a research report on Friday, October 24th. The Goldman Sachs Group restated a “neutral” rating and set a $72.00 target price on shares of ONEOK in a report on Monday, November 3rd. Finally, TD Cowen cut their price target on shares of ONEOK from $78.00 to $76.00 and set a “hold” rating on the stock in a report on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $89.27.

Insider Activity at ONEOK

In related news, Director Brian L. Derksen purchased 2,500 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The shares were bought at an average price of $66.00 per share, for a total transaction of $165,000.00. Following the purchase, the director directly owned 21,200 shares of the company’s stock, valued at approximately $1,399,200. This represents a 13.37% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.21% of the stock is currently owned by corporate insiders.

ONEOK Stock Performance

Shares of OKE stock opened at $70.55 on Friday. The company’s fifty day moving average price is $70.39 and its 200-day moving average price is $76.60. The stock has a market cap of $44.39 billion, a PE ratio of 12.97, a price-to-earnings-growth 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, Inc. has a 12 month low of $64.02 and a 12 month high of $118.07.

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, beating analysts’ consensus estimates 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 $8.63 billion during the quarter, compared to analysts’ expectations of $8.23 billion. During the same period last year, the company posted $1.18 EPS. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. On average, equities analysts expect that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Monday, November 3rd were issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 5.8%. The ex-dividend date was Monday, November 3rd. ONEOK’s dividend payout ratio (DPR) is presently 75.74%.

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.