Advisors Asset Management Inc. Buys 10,014 Shares of ONEOK, Inc. $OKE

Advisors Asset Management Inc. lifted its holdings in ONEOK, Inc. (NYSE:OKE) by 10.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 108,945 shares of the utilities provider’s stock after acquiring an additional 10,014 shares during the period. Advisors Asset Management Inc.’s holdings in ONEOK were worth $8,893,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of OKE. Vanguard Group Inc. grew its stake in ONEOK by 1.7% in the second quarter. Vanguard Group Inc. now owns 76,510,971 shares of the utilities provider’s stock valued at $6,245,591,000 after purchasing an additional 1,314,002 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of ONEOK by 2.9% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 21,570,904 shares of the utilities provider’s stock worth $1,760,833,000 after buying an additional 613,674 shares during the period. Geode Capital Management LLC raised its position in shares of ONEOK by 2.3% during the 2nd quarter. Geode Capital Management LLC now owns 15,800,797 shares of the utilities provider’s stock worth $1,284,303,000 after purchasing an additional 355,751 shares during the last quarter. Invesco Ltd. increased its position in shares of ONEOK by 25.1% during 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 in the last quarter. Finally, Tortoise Capital Advisors L.L.C. raised its position in shares of 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 valued at $711,586,000 after buying an additional 1,047,810 shares during the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Stock Performance

Shares of OKE stock opened at $70.82 on Wednesday. ONEOK, Inc. has a one year low of $64.02 and a one year high of $114.27. The firm has a market capitalization of $44.56 billion, a price-to-earnings ratio of 13.02, a price-to-earnings-growth ratio of 2.62 and a beta of 1.05. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.46 and a current ratio of 0.90. The company has a 50 day moving average price of $70.01 and a 200 day moving average price of $76.00.

ONEOK (NYSE:OKE) last issued its earnings results on Tuesday, October 28th. The utilities provider reported $1.49 EPS for the quarter, beating analysts’ consensus estimates of $1.48 by $0.01. The business had revenue of $8.63 billion for the quarter, compared to the consensus estimate of $8.23 billion. ONEOK had a net margin of 10.58% and a return on equity of 15.12%. During the same quarter last year, the firm posted $1.18 EPS. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. Sell-side analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Monday, November 3rd were given a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date was Monday, November 3rd. ONEOK’s dividend payout ratio (DPR) is presently 75.74%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on OKE. Stifel Nicolaus set a $94.00 price target on shares of ONEOK in a research note on Thursday, October 30th. Barclays cut their target price on shares of ONEOK from $83.00 to $78.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 9th. The Goldman Sachs Group restated a “neutral” rating and issued a $72.00 price target on shares of ONEOK in a research note on Monday, November 3rd. Argus upgraded shares of ONEOK from a “hold” rating to a “buy” rating and set a $79.00 target price for the company in a report on Thursday, November 6th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of ONEOK in a research report on Wednesday, November 19th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $89.27.

Insider Buying and Selling

In related news, Director Brian L. Derksen acquired 2,500 shares of ONEOK stock in a transaction that occurred on Monday, November 3rd. The stock was acquired at an average price of $66.00 per share, for a total transaction of $165,000.00. Following the transaction, the director directly owned 21,200 shares of the company’s stock, valued at $1,399,200. This trade represents a 13.37% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.21% of the stock is currently owned by insiders.

ONEOK Company 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.