ONEOK, Inc. $OKE Shares Bought by Advisors Capital Management LLC

Advisors Capital Management LLC increased its position in ONEOK, Inc. (NYSE:OKE) by 5.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 614,181 shares of the utilities provider’s stock after acquiring an additional 30,570 shares during the period. Advisors Capital Management LLC owned approximately 0.10% of ONEOK worth $50,136,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of OKE. Vanguard Group Inc. increased its stake in shares of ONEOK by 7.2% in the first quarter. Vanguard Group Inc. now owns 75,196,969 shares of the utilities provider’s stock valued at $7,461,043,000 after purchasing an additional 5,076,705 shares during the period. Nuveen LLC bought a new position in ONEOK in the 1st quarter worth approximately $440,535,000. Boston Partners acquired a new stake in ONEOK in the 1st quarter valued at approximately $353,596,000. First Eagle Investment Management LLC raised its stake in ONEOK by 130.8% during the 2nd quarter. First Eagle Investment Management LLC now owns 6,256,173 shares of the utilities provider’s stock valued at $510,691,000 after acquiring an additional 3,545,256 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in ONEOK by 13.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 20,957,230 shares of the utilities provider’s stock worth $2,079,376,000 after acquiring an additional 2,542,449 shares during the period. 69.13% of the stock is currently owned by institutional investors.

Insider Buying and Selling at ONEOK

In other news, Director Brian L. Derksen purchased 2,500 shares of the business’s stock in a transaction dated 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 acquisition, the director directly owned 21,200 shares of the company’s stock, valued at $1,399,200. The trade was a 13.37% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.21% of the stock is currently owned by company insiders.

ONEOK Stock Performance

Shares of NYSE OKE opened at $69.38 on Friday. The stock’s fifty day simple moving average is $70.44 and its 200 day simple moving average is $76.79. The stock has a market capitalization of $43.66 billion, a price-to-earnings ratio of 12.75, a PEG ratio of 2.62 and a beta of 1.05. The company has a quick ratio of 0.46, 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 $118.07.

ONEOK (NYSE:OKE) last announced its earnings results on Tuesday, October 28th. The utilities provider reported $1.49 EPS for the quarter, beating 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 business had revenue of $8.63 billion during the quarter, compared to the consensus estimate of $8.23 billion. During the same period in the prior year, the business posted $1.18 earnings per share. 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 fiscal year.

ONEOK Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Monday, November 3rd will be issued a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 5.9%. The ex-dividend date is Monday, November 3rd. ONEOK’s dividend payout ratio (DPR) is presently 75.74%.

Analysts Set New Price Targets

A number of research analysts have recently commented on OKE shares. Citigroup lowered their price target on ONEOK from $102.00 to $95.00 and set a “buy” rating on the stock in a report on Friday, October 31st. Wells Fargo & Company lowered their target price 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. Mizuho reduced 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. Weiss Ratings reiterated a “hold (c+)” rating on shares of ONEOK in a report on Wednesday, October 8th. 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 equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $91.94.

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.