Assetmark Inc. Boosts Stock Position in ONEOK, Inc. $OKE

Assetmark Inc. grew its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 84.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,047 shares of the utilities provider’s stock after buying an additional 1,848 shares during the period. Assetmark Inc.’s holdings in ONEOK were worth $330,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in OKE. Vanguard Group Inc. grew its holdings in shares of ONEOK by 7.2% during the 1st quarter. Vanguard Group Inc. now owns 75,196,969 shares of the utilities provider’s stock worth $7,461,043,000 after acquiring an additional 5,076,705 shares during the period. Charles Schwab Investment Management Inc. boosted its position 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 purchasing an additional 2,542,449 shares in the last quarter. Invesco Ltd. grew its stake in ONEOK by 25.1% in the first quarter. Invesco Ltd. now owns 8,339,939 shares of the utilities provider’s stock worth $827,489,000 after purchasing an additional 1,674,706 shares during the period. Tortoise Capital Advisors L.L.C. raised its holdings in ONEOK by 17.1% in the first quarter. Tortoise Capital Advisors L.L.C. now owns 7,171,795 shares of the utilities provider’s stock worth $711,586,000 after purchasing an additional 1,047,810 shares in the last quarter. Finally, Northern Trust Corp lifted its position in ONEOK by 5.3% during the first quarter. Northern Trust Corp now owns 6,879,863 shares of the utilities provider’s stock valued at $682,620,000 after buying an additional 344,002 shares during the period. Institutional investors own 69.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on OKE shares. Mizuho decreased their price target on shares of ONEOK from $87.00 to $82.00 and set a “neutral” rating for the company in a research note on Friday, August 29th. Scotiabank decreased their target price on shares of ONEOK from $88.00 to $87.00 and set a “sector outperform” rating for the company in a research note on Tuesday. The Goldman Sachs Group reiterated a “neutral” rating and set a $72.00 target price on shares of ONEOK in a report on Monday. Weiss Ratings restated a “hold (c+)” rating on shares of ONEOK in a research note on Wednesday, October 8th. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $82.00 price objective (down previously from $100.00) on shares of ONEOK in a research report on Friday, October 24th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, ONEOK currently has an average rating of “Moderate Buy” and a consensus target price of $91.94.

Insider Activity

In related news, Director Brian L. Derksen acquired 2,500 shares of the business’s stock in a transaction on Monday, November 3rd. The stock was acquired at an average cost 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 $1,399,200. This represents a 13.37% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.21% of the company’s stock.

ONEOK Price Performance

NYSE OKE opened at $68.15 on Friday. The company has a 50-day moving average price of $70.92 and a 200-day moving average price of $77.25. ONEOK, Inc. has a 52 week low of $64.02 and a 52 week high of $118.07. 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 capitalization of $42.88 billion, a P/E ratio of 12.53, a PEG ratio of 2.62 and a beta of 1.05.

ONEOK (NYSE:OKE) last posted 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. ONEOK had a return on equity of 15.12% and a net margin of 10.58%.The firm had revenue of $9.17 billion during the quarter, compared to analyst estimates of $8.23 billion. During the same period in the prior year, the business posted $1.18 EPS. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. Equities research analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Dividend Announcement

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

About ONEOK

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.