ONEOK, Inc. $OKE Stock Position Lowered by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC decreased its position in ONEOK, Inc. (NYSE:OKE) by 2.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 702,530 shares of the utilities provider’s stock after selling 16,899 shares during the quarter. Commonwealth Equity Services LLC’s holdings in ONEOK were worth $51,264,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. Assetmark Inc. boosted its stake in ONEOK by 84.0% during the 2nd quarter. Assetmark Inc. now owns 4,047 shares of the utilities provider’s stock valued at $330,000 after purchasing an additional 1,848 shares during the period. Morningstar Investment Management LLC lifted its holdings in shares of ONEOK by 18.2% during the second quarter. Morningstar Investment Management LLC now owns 27,375 shares of the utilities provider’s stock worth $2,235,000 after buying an additional 4,206 shares during the last quarter. Meixler Investment Management Ltd. boosted its position in shares of ONEOK by 134.0% in the second quarter. Meixler Investment Management Ltd. now owns 30,937 shares of the utilities provider’s stock valued at $2,525,000 after acquiring an additional 17,714 shares during the period. Balefire LLC acquired a new stake in shares of ONEOK in the second quarter worth $973,000. Finally, Jackson Hole Capital Partners LLC increased its position in ONEOK by 24.6% during the second quarter. Jackson Hole Capital Partners LLC now owns 81,923 shares of the utilities provider’s stock worth $6,687,000 after acquiring an additional 16,151 shares during the period. 69.13% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at ONEOK

In other news, Director Brian L. Derksen purchased 2,500 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The stock was purchased at an average cost of $66.00 per share, with a total value of $165,000.00. Following the acquisition, the director directly owned 21,200 shares of the company’s stock, valued at approximately $1,399,200. This trade represents a 13.37% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.20% of the stock is owned by corporate insiders.

ONEOK Trading Down 3.7%

Shares of OKE opened at $70.92 on Wednesday. The company has a current ratio of 0.90, a quick ratio of 0.75 and a debt-to-equity ratio of 1.44. The stock has a market cap of $44.63 billion, a PE ratio of 13.04, a PEG ratio of 4.11 and a beta of 0.94. ONEOK, Inc. has a 1 year low of $64.02 and a 1 year high of $111.02. The stock has a 50 day simple moving average of $71.35 and a 200-day simple moving average of $74.06.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Tuesday, October 28th. The utilities provider reported $1.49 earnings per share for the quarter, beating analysts’ consensus estimates of $1.48 by $0.01. ONEOK had a return on equity of 15.12% and a net margin of 10.58%.The firm had revenue of $8.63 billion for the quarter, compared to analysts’ expectations of $8.23 billion. During the same period in the prior year, the business posted $1.18 earnings per share. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. On average, sell-side analysts predict that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages have weighed in on OKE. Stifel Nicolaus set a $94.00 price target on shares of ONEOK in a report on Thursday, October 30th. 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 research note on Thursday, October 30th. Barclays lowered their price target on ONEOK from $83.00 to $78.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 9th. Argus upgraded ONEOK from a “hold” rating to a “buy” rating and set a $79.00 price objective for the company in a research report on Thursday, November 6th. Finally, TD Cowen decreased their price objective on ONEOK from $78.00 to $76.00 and set a “hold” rating on the stock in a report on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $88.00.

ONEOK Company Profile

ONEOK, Inc (NYSE: OKE) is a publicly traded midstream energy company headquartered in Tulsa, Oklahoma. The company owns and operates a portfolio of natural gas and natural gas liquids (NGL) pipelines, processing facilities, fractionators and storage and terminal assets. Its operations are focused on gathering, processing, transporting, fractionating and marketing NGLs and interstate natural gas, providing critical infrastructure that connects hydrocarbon production to refineries, petrochemical plants and other end markets.

ONEOK’s asset base includes pipeline systems and processing plants that move and condition natural gas, along with infrastructure for the transportation, storage and fractionation of NGLs such as ethane, propane and butane.