Nations Financial Group Inc. IA ADV Decreases Stock Position in ONEOK, Inc. $OKE

Nations Financial Group Inc. IA ADV decreased its position in shares of ONEOK, Inc. (NYSE:OKE) by 55.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,701 shares of the utilities provider’s stock after selling 35,861 shares during the period. Nations Financial Group Inc. IA ADV’s holdings in ONEOK were worth $2,094,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its stake in shares of ONEOK by 137.1% in the fourth quarter. Brighton Jones LLC now owns 15,278 shares of the utilities provider’s stock worth $1,534,000 after acquiring an additional 8,834 shares in the last quarter. Empowered Funds LLC increased its holdings in ONEOK by 0.8% during the 1st quarter. Empowered Funds LLC now owns 17,957 shares of the utilities provider’s stock worth $1,782,000 after purchasing an additional 137 shares during the last quarter. Acadian Asset Management LLC acquired a new position in shares of ONEOK in the 1st quarter valued at approximately $216,000. Focus Financial Network Inc. boosted its stake in shares of ONEOK by 4.5% during the 2nd quarter. Focus Financial Network Inc. now owns 13,671 shares of the utilities provider’s stock valued at $1,116,000 after buying an additional 583 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of ONEOK by 5.8% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 89,956 shares of the utilities provider’s stock worth $7,343,000 after buying an additional 4,942 shares in the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

Insider Activity at ONEOK

In other news, Director Brian L. Derksen acquired 2,500 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The shares were acquired at an average price of $66.00 per share, with a total value of $165,000.00. Following the acquisition, the director directly owned 21,200 shares in the company, valued at approximately $1,399,200. The trade was a 13.37% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

OKE has been the topic of several recent analyst reports. Raymond James Financial reaffirmed an “outperform” rating and issued a $82.00 price target (down from $100.00) on shares of ONEOK in a report on Friday, October 24th. Stifel Nicolaus set a $94.00 price target on shares of ONEOK in a research report on Thursday, October 30th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $72.00 price target on shares of ONEOK in a research note on Monday, November 3rd. TD Cowen cut their price objective on ONEOK from $78.00 to $76.00 and set a “hold” rating on the stock in a research note on Thursday, October 30th. Finally, Argus raised ONEOK from a “hold” rating to a “buy” rating and set a $79.00 target price on the stock in a report on Thursday, November 6th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, ONEOK presently has an average rating of “Moderate Buy” and a consensus price target of $88.14.

ONEOK Stock Performance

Shares of NYSE OKE opened at $74.46 on Friday. The company has a quick ratio of 0.75, a current ratio of 0.90 and a debt-to-equity ratio of 1.44. The firm’s 50-day moving average price is $72.41 and its two-hundred day moving average price is $73.68. ONEOK, Inc. has a 52-week low of $64.02 and a 52-week high of $111.02. The stock has a market capitalization of $46.85 billion, a P/E ratio of 13.69, a P/E/G ratio of 4.15 and a beta of 0.94.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Tuesday, October 28th. The utilities provider reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.48 by $0.01. ONEOK had a return on equity of 15.12% and a net margin of 10.58%.The business had revenue of $8.63 billion for the quarter, compared to analysts’ expectations of $8.23 billion. During the same period in the prior year, the firm earned $1.18 EPS. 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 year.

About ONEOK

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.