Global Retirement Partners LLC Acquires Shares of 49,711 ONEOK, Inc. $OKE

Global Retirement Partners LLC acquired a new position in shares of ONEOK, Inc. (NYSE:OKE) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 49,711 shares of the utilities provider’s stock, valued at approximately $4,058,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in ONEOK by 7.2% during the 1st quarter. Vanguard Group Inc. now owns 75,196,969 shares of the utilities provider’s stock worth $7,461,043,000 after buying an additional 5,076,705 shares during the last quarter. Nuveen LLC acquired a new stake in shares of ONEOK during the 1st quarter worth about $440,535,000. Boston Partners purchased a new stake in ONEOK during the first quarter worth approximately $353,596,000. First Eagle Investment Management LLC boosted its holdings in ONEOK by 130.8% in the second quarter. First Eagle Investment Management LLC now owns 6,256,173 shares of the utilities provider’s stock valued at $510,691,000 after purchasing an additional 3,545,256 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in ONEOK by 13.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 20,957,230 shares of the utilities provider’s stock valued at $2,079,376,000 after purchasing an additional 2,542,449 shares during the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Price Performance

Shares of NYSE:OKE opened at $70.36 on Tuesday. ONEOK, Inc. has a 52 week low of $64.02 and a 52 week high of $117.55. The company has a 50-day moving average price of $70.05 and a 200 day moving average price of $76.08. The company has a market cap of $44.27 billion, a P/E ratio of 12.93, a PEG ratio of 2.62 and a beta of 1.05. The company has a quick ratio of 0.46, a current ratio of 0.90 and a debt-to-equity ratio of 1.44.

ONEOK (NYSE:OKE) last issued its 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 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 in the prior year, the business posted $1.18 EPS. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. Research analysts predict 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 was paid on Friday, November 14th. Shareholders of record on Monday, November 3rd were given a $1.03 dividend. The ex-dividend date was Monday, November 3rd. This represents a $4.12 annualized dividend and a yield of 5.9%. ONEOK’s dividend payout ratio is presently 75.74%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Citigroup reduced their price objective on shares of ONEOK from $102.00 to $95.00 and set a “buy” rating for the company in a research report on Friday, October 31st. Scotiabank cut their price target on shares of ONEOK from $88.00 to $87.00 and set a “sector outperform” rating on the stock in a research note on Tuesday, November 4th. The Goldman Sachs Group restated a “neutral” rating and issued a $72.00 price objective on shares of ONEOK in a research note on Monday, November 3rd. Argus raised ONEOK from a “hold” rating to a “buy” rating and set a $79.00 price objective on the stock in a report on Thursday, November 6th. Finally, Mizuho cut their target price on ONEOK from $87.00 to $82.00 and set a “neutral” rating on the stock in a research report on Friday, August 29th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, ONEOK presently has a consensus rating of “Moderate Buy” and an average target price of $89.27.

Insider Buying and Selling

In related news, Director Brian L. Derksen bought 2,500 shares of the firm’s stock in a transaction on Monday, November 3rd. The shares were bought at an average cost 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. This trade represents a 13.37% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.21% of the company’s stock.

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.