ABC Arbitrage SA Buys New Position in ONEOK, Inc. $OKE

ABC Arbitrage SA purchased a new position in ONEOK, Inc. (NYSE:OKE) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 44,714 shares of the utilities provider’s stock, valued at approximately $3,650,000.

Other large investors have also modified their holdings of the company. Financial Network Wealth Advisors LLC increased its stake in ONEOK by 2,466.7% during the 1st quarter. Financial Network Wealth Advisors LLC now owns 385 shares of the utilities provider’s stock valued at $38,000 after purchasing an additional 370 shares in the last quarter. Access Investment Management LLC purchased a new stake in shares of ONEOK during the second quarter valued at $33,000. Cheviot Value Management LLC acquired a new position in shares of ONEOK in the 1st quarter valued at $46,000. Trust Co. of Toledo NA OH purchased a new position in ONEOK in the 2nd quarter worth $42,000. Finally, IMA Advisory Services Inc. acquired a new stake in ONEOK during the 1st quarter worth about $57,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Price Performance

ONEOK stock opened at $69.09 on Wednesday. The stock has a market capitalization of $43.47 billion, a P/E ratio of 12.70, a P/E/G ratio of 2.62 and a beta of 1.05. The company’s fifty day moving average price is $70.64 and its 200 day moving average price is $76.90. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.46 and a current ratio of 0.90. ONEOK, Inc. has a 1 year low of $64.02 and a 1 year high of $118.07.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Tuesday, October 28th. The utilities provider reported $1.49 earnings per share (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 company had revenue of $9.17 billion for the quarter, compared to analysts’ expectations of $8.23 billion. During the same period in the previous year, the firm posted $1.18 EPS. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. As a group, equities research analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Monday, November 3rd will be given a $1.03 dividend. The ex-dividend date is Monday, November 3rd. This represents a $4.12 dividend on an annualized basis and a dividend yield of 6.0%. ONEOK’s dividend payout ratio is 75.74%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on OKE shares. Raymond James Financial restated an “outperform” rating and issued a $82.00 price objective (down from $100.00) on shares of ONEOK in a research note on Friday, October 24th. Barclays decreased their price objective on shares of ONEOK from $83.00 to $78.00 and set an “equal weight” rating for the company in a research note on Thursday, October 9th. Wells Fargo & Company cut their price objective on shares of ONEOK from $90.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 30th. Stifel Nicolaus set a $94.00 target price on shares of ONEOK in a research report on Thursday, October 30th. Finally, Morgan Stanley lowered their price target on shares of ONEOK from $122.00 to $110.00 and set an “overweight” rating on the stock in a report on Tuesday, August 26th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, ONEOK has a consensus rating of “Moderate Buy” and an average price target of $91.94.

Insider Activity at ONEOK

In related news, Director Brian L. Derksen acquired 2,500 shares of ONEOK stock in a transaction that occurred on Monday, November 3rd. The shares were purchased 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 owned 21,200 shares in the company, valued at $1,399,200. This represents a 13.37% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.21% of the company’s stock.

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.