ONEOK, Inc. $OKE Shares Purchased by Hudson Edge Investment Partners Inc.

Hudson Edge Investment Partners Inc. raised its position in ONEOK, Inc. (NYSE:OKE) by 34.1% during the third quarter, HoldingsChannel reports. The firm owned 87,667 shares of the utilities provider’s stock after purchasing an additional 22,282 shares during the period. Hudson Edge Investment Partners Inc.’s holdings in ONEOK were worth $6,397,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of OKE. Bogart Wealth LLC boosted its position in ONEOK by 3.1% during the second quarter. Bogart Wealth LLC now owns 4,031 shares of the utilities provider’s stock worth $329,000 after acquiring an additional 122 shares during the last quarter. Empowered Funds LLC grew its holdings in ONEOK by 0.8% in the 1st quarter. Empowered Funds LLC now owns 17,957 shares of the utilities provider’s stock valued at $1,782,000 after buying an additional 137 shares in the last quarter. MJT & Associates Financial Advisory Group Inc. increased its stake in shares of ONEOK by 5.8% in the 2nd quarter. MJT & Associates Financial Advisory Group Inc. now owns 2,540 shares of the utilities provider’s stock worth $207,000 after acquiring an additional 140 shares during the last quarter. Focused Wealth Management Inc raised its holdings in shares of ONEOK by 4.3% during the 3rd quarter. Focused Wealth Management Inc now owns 3,441 shares of the utilities provider’s stock worth $251,000 after acquiring an additional 142 shares during the period. Finally, Fidelis Capital Partners LLC boosted its position in shares of ONEOK by 4.2% during the 2nd quarter. Fidelis Capital Partners LLC now owns 3,589 shares of the utilities provider’s stock valued at $270,000 after acquiring an additional 144 shares during the last quarter. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently commented on OKE shares. Citigroup reduced their price target on shares of ONEOK from $102.00 to $95.00 and set a “buy” rating on the stock in a research report on Friday, October 31st. Raymond James Financial reaffirmed an “outperform” rating and issued a $82.00 price target (down previously from $100.00) on shares of ONEOK in a research note on Friday, October 24th. TD Cowen lowered their price target on ONEOK from $78.00 to $76.00 and set a “hold” rating for the company in a report on Thursday, October 30th. Barclays reduced their price objective on shares of ONEOK from $78.00 to $76.00 and set an “equal weight” rating on the stock in a report on Thursday, January 15th. Finally, Scotiabank reaffirmed an “outperform” rating and set a $91.00 target price on shares of ONEOK in a research note on Friday, January 16th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $87.60.

Insider Buying and Selling at ONEOK

In other ONEOK 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 purchased 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 directly 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 acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 0.21% of the stock is currently owned by company insiders.

ONEOK Stock Performance

Shares of OKE opened at $75.83 on Thursday. The company has a quick ratio of 0.75, a current ratio of 0.90 and a debt-to-equity ratio of 1.44. ONEOK, Inc. has a 52-week low of $64.02 and a 52-week high of $110.62. The stock has a 50 day moving average price of $72.79 and a 200 day moving average price of $73.53. The company has a market capitalization of $47.72 billion, a price-to-earnings ratio of 13.94, a price-to-earnings-growth ratio of 4.16 and a beta of 0.94.

ONEOK (NYSE:OKE) last posted its earnings results on Tuesday, October 28th. The utilities provider reported $1.49 EPS 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 quarter in the previous year, the firm earned $1.18 earnings per share. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. Research analysts predict that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Monday, February 2nd will be issued a dividend of $1.07 per share. This is an increase from ONEOK’s previous quarterly dividend of $1.03. This represents a $4.28 annualized dividend and a yield of 5.6%. The ex-dividend date of this dividend is Monday, February 2nd. ONEOK’s dividend payout ratio is currently 75.74%.

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.