Sky Investment Group LLC Makes New Investment in ONEOK, Inc. $OKE

Sky Investment Group LLC bought a new stake in ONEOK, Inc. (NYSE:OKE) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 8,785 shares of the utilities provider’s stock, valued at approximately $641,000.

Several other large investors also recently modified their holdings of the stock. Global Wealth Strategies & Associates purchased a new position in ONEOK in the third quarter valued at approximately $29,000. Access Investment Management LLC bought a new stake in shares of ONEOK in the second quarter valued at $33,000. Twin Peaks Wealth Advisors LLC bought a new stake in shares of ONEOK in the second quarter valued at $34,000. Trust Co. of Toledo NA OH purchased a new position in shares of ONEOK during the 2nd quarter valued at $42,000. Finally, MTM Investment Management LLC bought a new position in shares of ONEOK during the 2nd quarter worth $44,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Stock Down 0.0%

Shares of NYSE OKE opened at $71.68 on Friday. 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 business has a 50-day moving average of $70.32 and a 200-day moving average of $74.89. The firm has a market capitalization of $45.11 billion, a price-to-earnings ratio of 13.18, a PEG ratio of 4.38 and a beta of 0.95. ONEOK, Inc. has a 12 month low of $64.02 and a 12 month high of $111.02.

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

ONEOK Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Monday, November 3rd were given a $1.03 dividend. The ex-dividend date was Monday, November 3rd. This represents a $4.12 annualized dividend and a yield of 5.7%. ONEOK’s payout ratio is 75.74%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Weiss Ratings restated a “hold (c)” rating on shares of ONEOK in a research note on Monday. Wells Fargo & Company lowered their price target on shares of ONEOK from $90.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 30th. Barclays cut their price objective on shares of ONEOK from $83.00 to $78.00 and set an “equal weight” rating for the company in a report on Thursday, October 9th. Mizuho lowered their target price on shares of ONEOK from $87.00 to $82.00 and set a “neutral” rating on the stock in a report on Friday, August 29th. Finally, Morgan Stanley dropped their target price on ONEOK from $122.00 to $110.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $88.00.

Insider Buying and Selling

In other news, Director Brian L. Derksen purchased 2,500 shares of the stock in a transaction on Monday, November 3rd. The shares were acquired at an average price of $66.00 per share, for a total transaction of $165,000.00. Following the completion of the transaction, 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 acquisition was disclosed in a filing with the SEC, which is available through this link. 0.21% of the stock is currently owned by corporate insiders.

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.