Fractal Investments LLC Sells 45,064 Shares of ONEOK, Inc. $OKE

Fractal Investments LLC cut its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 17.8% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 207,693 shares of the utilities provider’s stock after selling 45,064 shares during the period. ONEOK accounts for 2.2% of Fractal Investments LLC’s holdings, making the stock its 14th biggest holding. Fractal Investments LLC’s holdings in ONEOK were worth $15,155,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of OKE. Sippican Capital Advisors lifted its holdings in ONEOK by 13.6% during the third quarter. Sippican Capital Advisors now owns 3,526 shares of the utilities provider’s stock worth $257,000 after buying an additional 423 shares during the period. Quent Capital LLC purchased a new stake in shares of ONEOK during the 3rd quarter worth $44,000. Pinion Investment Advisors LLC boosted its position in ONEOK by 17.2% during the third quarter. Pinion Investment Advisors LLC now owns 14,516 shares of the utilities provider’s stock valued at $996,000 after purchasing an additional 2,134 shares in the last quarter. Birch Capital Management LLC boosted its position in ONEOK by 21.4% during the third quarter. Birch Capital Management LLC now owns 17,540 shares of the utilities provider’s stock valued at $1,280,000 after purchasing an additional 3,086 shares in the last quarter. Finally, Nordea Investment Management AB grew its stake in ONEOK by 7.5% in the third quarter. Nordea Investment Management AB now owns 777,262 shares of the utilities provider’s stock valued at $55,885,000 after purchasing an additional 54,444 shares during the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

ONEOK Trading Down 0.2%

Shares of ONEOK stock opened at $72.53 on Tuesday. The firm’s 50 day simple moving average is $71.79 and its two-hundred day simple moving average is $73.82. The firm has a market capitalization of $45.64 billion, a price-to-earnings ratio of 13.33, a PEG ratio of 4.06 and a beta of 0.94. ONEOK, Inc. has a 12-month low of $64.02 and a 12-month high of $111.02. The company has a current ratio of 0.90, a quick ratio of 0.75 and a debt-to-equity ratio of 1.44.

ONEOK (NYSE:OKE) last announced its quarterly earnings data 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 net margin of 10.58% and a return on equity of 15.12%. The firm had revenue of $8.63 billion for the quarter, compared to analyst estimates of $8.23 billion. During the same period in the previous year, the company earned $1.18 earnings per share. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. Analysts predict that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Monday, November 3rd were issued a $1.03 dividend. The ex-dividend date of this dividend was Monday, November 3rd. This represents a $4.12 dividend on an annualized basis and a dividend yield of 5.7%. ONEOK’s dividend payout ratio is currently 75.74%.

Insider Activity

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

Analysts Set New Price Targets

Several analysts have commented on OKE shares. Weiss Ratings reissued a “hold (c)” rating on shares of ONEOK in a research report on Monday, December 29th. Barclays decreased their target price on shares of ONEOK from $83.00 to $78.00 and set an “equal weight” rating for the company in a research report on Thursday, October 9th. Raymond James Financial restated an “outperform” rating and issued a $82.00 target price (down from $100.00) on shares of ONEOK in a research note on Friday, October 24th. Wells Fargo & Company cut their price target on shares of ONEOK from $90.00 to $82.00 and set an “equal weight” rating on the stock in a report on Thursday, October 30th. Finally, TD Cowen decreased their price objective on ONEOK from $78.00 to $76.00 and set a “hold” rating for the company in a report on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $88.00.

ONEOK 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.