Prudential PLC Acquires 17,585 Shares of ONEOK, Inc. $OKE

Prudential PLC increased its holdings in ONEOK, Inc. (NYSE:OKE) by 6.2% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 299,228 shares of the utilities provider’s stock after purchasing an additional 17,585 shares during the period. Prudential PLC’s holdings in ONEOK were worth $24,426,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Financial Network Wealth Advisors LLC grew its position in shares of ONEOK by 2,466.7% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 385 shares of the utilities provider’s stock valued at $38,000 after buying an additional 370 shares during the last quarter. Access Investment Management LLC bought a new position in shares of ONEOK during the second quarter worth about $33,000. Cheviot Value Management LLC acquired a new position in shares of ONEOK in the first quarter worth approximately $46,000. Trust Co. of Toledo NA OH acquired a new position in shares of ONEOK in the second quarter worth approximately $42,000. Finally, MTM Investment Management LLC bought a new stake in ONEOK in the second quarter valued at approximately $44,000. 69.13% of the stock is currently owned by institutional investors and hedge funds.

ONEOK Stock Up 0.0%

Shares of NYSE OKE opened at $69.46 on Thursday. The company has a quick ratio of 0.46, a current ratio of 0.90 and a debt-to-equity ratio of 1.44. The firm has a market cap of $43.70 billion, a PE ratio of 12.77, a P/E/G ratio of 2.62 and a beta of 1.06. The company’s fifty day simple moving average is $70.22 and its 200 day simple moving average is $76.33. ONEOK, Inc. has a 12-month low of $64.02 and a 12-month high of $118.07.

ONEOK (NYSE:OKE) last posted its quarterly earnings results on Tuesday, October 28th. The utilities provider reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.48 by $0.01. The firm had revenue of $8.63 billion during the quarter, compared to the consensus estimate 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 previous year, the firm posted $1.18 earnings per share. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. As a group, sell-side analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Monday, November 3rd were paid a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 5.9%. The ex-dividend date of this dividend was Monday, November 3rd. ONEOK’s dividend payout ratio is 75.74%.

Insider Transactions at ONEOK

In other news, Director Brian L. Derksen acquired 2,500 shares of ONEOK stock in a transaction 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 purchase, the director owned 21,200 shares of the company’s stock, valued at approximately $1,399,200. The trade was a 13.37% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

OKE has been the subject of several analyst reports. Morgan Stanley lowered their price target on shares of ONEOK from $122.00 to $110.00 and set an “overweight” rating for the company in a report on Tuesday, August 26th. Stifel Nicolaus set a $94.00 target price on shares of ONEOK in a research note on Thursday, October 30th. TD Cowen dropped their target price on shares of ONEOK from $78.00 to $76.00 and set a “hold” rating on the stock in a report on Thursday, October 30th. Raymond James Financial reaffirmed an “outperform” rating and set a $82.00 price target (down previously from $100.00) on shares of ONEOK in a research report on Friday, October 24th. Finally, Barclays decreased their price target on ONEOK from $83.00 to $78.00 and set an “equal weight” rating for the company in a report on Thursday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $89.27.

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.