Insider Buying: ONEOK (NYSE:OKE) Director Buys 2,500 Shares of Stock

ONEOK, Inc. (NYSE:OKE) Director Brian Derksen acquired 2,500 shares of ONEOK stock in a transaction dated Monday, November 3rd. The stock was purchased at an average cost of $66.00 per share, for a total transaction of $165,000.00. Following the completion of the purchase, the director owned 21,200 shares in the company, valued at approximately $1,399,200. The trade was a 13.37% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

ONEOK Trading Up 3.1%

Shares of ONEOK stock traded up $1.97 on Wednesday, reaching $66.28. 5,946,403 shares of the company’s stock were exchanged, compared to its average volume of 3,910,615. The company has a market capitalization of $41.71 billion, a P/E ratio of 12.18, a price-to-earnings-growth ratio of 2.62 and a beta of 1.01. ONEOK, Inc. has a 52 week low of $64.02 and a 52 week high of $118.07. The firm’s 50-day moving average is $71.42 and its two-hundred day moving average is $77.50. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.46 and a current ratio of 0.90.

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 the consensus estimate of $1.48 by $0.01. The business had revenue of $9.17 billion for the quarter, compared to analyst estimates of $8.23 billion. ONEOK had a net margin of 10.58% and a return on equity of 15.12%. During the same period in the prior year, the firm earned $1.18 earnings per share. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. Sell-side analysts predict that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Monday, November 3rd will be paid a dividend of $1.03 per share. The ex-dividend date of this dividend is Monday, November 3rd. This represents a $4.12 annualized dividend and a yield of 6.2%. ONEOK’s dividend payout ratio is currently 75.74%.

Analyst Upgrades and Downgrades

OKE has been the topic of several research analyst reports. Weiss Ratings reissued a “hold (c+)” rating on shares of ONEOK in a research note on Wednesday, October 8th. TD Cowen cut their target price on shares of ONEOK from $78.00 to $76.00 and set a “hold” rating on the stock in a research note on Thursday, October 30th. Citigroup cut their target price on shares of ONEOK from $102.00 to $95.00 and set a “buy” rating on the stock in a research note on Friday, October 31st. Raymond James Financial reissued an “outperform” rating and set a $82.00 target price (down from $100.00) on shares of ONEOK in a research note on Friday, October 24th. Finally, Stifel Nicolaus set a $94.00 target price on shares of ONEOK in a research note on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, ONEOK currently has a consensus rating of “Moderate Buy” and a consensus target price of $92.80.

Institutional Trading of ONEOK

Institutional investors and hedge funds have recently made changes to their positions in the company. City Holding Co. purchased a new stake in shares of ONEOK in the third quarter valued at about $28,000. Winnow Wealth LLC purchased a new stake in shares of ONEOK in the third quarter valued at about $28,000. Global Wealth Strategies & Associates purchased a new stake in shares of ONEOK in the third quarter valued at about $29,000. Financial Consulate Inc. purchased a new stake in ONEOK during the third quarter worth about $29,000. Finally, Access Investment Management LLC bought a new stake in ONEOK in the second quarter worth about $33,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

About ONEOK

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.