ONEOK, Inc. $OKE Shares Acquired by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC lifted its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 4.6% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 719,429 shares of the utilities provider’s stock after acquiring an additional 31,934 shares during the period. Commonwealth Equity Services LLC’s holdings in ONEOK were worth $58,727,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in ONEOK by 7.2% in the 1st quarter. Vanguard Group Inc. now owns 75,196,969 shares of the utilities provider’s stock worth $7,461,043,000 after purchasing an additional 5,076,705 shares in the last quarter. Nuveen LLC acquired a new stake in shares of ONEOK during the first quarter worth $440,535,000. Boston Partners acquired a new stake in shares of ONEOK during the first quarter worth $353,596,000. Charles Schwab Investment Management Inc. grew its holdings in shares of ONEOK by 13.8% during 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 buying an additional 2,542,449 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in shares of ONEOK by 51.9% in the 1st quarter. Wellington Management Group LLP now owns 6,388,987 shares of the utilities provider’s stock valued at $633,915,000 after acquiring an additional 2,182,081 shares during the period. 69.13% of the stock is owned by hedge funds and other institutional investors.

ONEOK Stock Up 0.5%

Shares of OKE stock opened at $68.15 on Friday. ONEOK, Inc. has a twelve month low of $64.02 and a twelve month high of $118.07. The stock has a market cap of $42.88 billion, a P/E ratio of 12.53, a P/E/G ratio of 2.62 and a beta of 1.05. The stock has a 50 day moving average of $70.92 and a 200 day moving average of $77.25. The company has a current ratio of 0.90, a quick ratio of 0.46 and a debt-to-equity ratio of 1.44.

ONEOK (NYSE:OKE) last released its quarterly earnings data on Tuesday, October 28th. The utilities provider reported $1.49 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 return on equity of 15.12% and a net margin of 10.58%.During the same quarter in the prior year, the firm posted $1.18 EPS. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. As a group, sell-side analysts expect that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Monday, November 3rd will be given a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 6.0%. The ex-dividend date is Monday, November 3rd. ONEOK’s dividend payout ratio (DPR) is currently 75.74%.

Insiders Place Their Bets

In other news, Director Brian L. Derksen acquired 2,500 shares of the business’s stock in a transaction on Monday, November 3rd. The stock was bought 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 owned 21,200 shares of the company’s stock, valued at approximately $1,399,200. This represents a 13.37% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.21% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of ONEOK in a research report on Wednesday, October 8th. Wells Fargo & Company decreased their target price on ONEOK from $90.00 to $82.00 and set an “equal weight” rating for the company in a report on Thursday, October 30th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $72.00 target price on shares of ONEOK in a research report on Monday. Stifel Nicolaus set a $94.00 price target on shares of ONEOK in a research report on Thursday, October 30th. Finally, Morgan Stanley decreased their price objective on shares of ONEOK from $122.00 to $110.00 and set an “overweight” rating for the company in a research note on Tuesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $91.94.

ONEOK 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.