Bank of Nova Scotia Has $10.83 Million Position in ONEOK, Inc. $OKE

Bank of Nova Scotia reduced its stake in shares of ONEOK, Inc. (NYSE:OKE) by 17.0% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 132,679 shares of the utilities provider’s stock after selling 27,223 shares during the quarter. Bank of Nova Scotia’s holdings in ONEOK were worth $10,830,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Bogart Wealth LLC raised its holdings in ONEOK by 3.1% during the 2nd quarter. Bogart Wealth LLC now owns 4,031 shares of the utilities provider’s stock worth $329,000 after buying an additional 122 shares during the period. Presima Securities ULC raised its holdings in shares of ONEOK by 1.4% during the first quarter. Presima Securities ULC now owns 9,477 shares of the utilities provider’s stock worth $940,000 after acquiring an additional 127 shares during the period. Empowered Funds LLC raised its holdings in shares of ONEOK by 0.8% during the first quarter. Empowered Funds LLC now owns 17,957 shares of the utilities provider’s stock worth $1,782,000 after acquiring an additional 137 shares during the period. MJT & Associates Financial Advisory Group Inc. lifted its position in ONEOK by 5.8% in the 2nd quarter. MJT & Associates Financial Advisory Group Inc. now owns 2,540 shares of the utilities provider’s stock valued at $207,000 after acquiring an additional 140 shares in the last quarter. Finally, SouthState Corp boosted its stake in ONEOK by 14.0% in the 1st quarter. SouthState Corp now owns 1,162 shares of the utilities provider’s stock worth $115,000 after purchasing an additional 143 shares during the period. Institutional investors and hedge funds own 69.13% of the company’s stock.

Insider Buying and Selling at ONEOK

In related news, Director Brian L. Derksen bought 2,500 shares of the company’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 transaction, the director directly owned 21,200 shares of the company’s stock, valued at approximately $1,399,200. The trade was a 13.37% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.21% of the stock is owned by corporate insiders.

ONEOK Stock Down 1.6%

Shares of NYSE:OKE opened at $73.75 on Thursday. ONEOK, Inc. has a 52-week low of $64.02 and a 52-week high of $111.02. The company has a market capitalization of $46.41 billion, a PE ratio of 13.56, a price-to-earnings-growth ratio of 4.59 and a beta of 0.95. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.75 and a current ratio of 0.90. The company has a fifty day moving average of $70.23 and a 200-day moving average of $75.27.

ONEOK (NYSE:OKE) last released its quarterly earnings results 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. The company had revenue of $8.63 billion for the quarter, compared to analysts’ expectations 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 previous year, the business posted $1.18 earnings per share. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. On average, equities analysts predict that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Monday, November 3rd were given a dividend of $1.03 per share. The ex-dividend date of this dividend was Monday, November 3rd. This represents a $4.12 annualized dividend and a dividend yield of 5.6%. ONEOK’s dividend payout ratio (DPR) is 75.74%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on OKE shares. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $72.00 price target on shares of ONEOK in a research note on Monday, November 3rd. Raymond James Financial reaffirmed an “outperform” rating and issued a $82.00 target price (down previously from $100.00) on shares of ONEOK in a research report on Friday, October 24th. 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 report on Tuesday, November 4th. Morgan Stanley decreased their price objective on ONEOK from $122.00 to $110.00 and set an “overweight” rating for the company in a report on Tuesday, August 26th. Finally, Stifel Nicolaus set a $94.00 target price on ONEOK in a research report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $88.00.

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.