Castleark Management LLC Sells 7,250 Shares of ONEOK, Inc. $OKE

Castleark Management LLC trimmed its stake in shares of ONEOK, Inc. (NYSE:OKE) by 22.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 25,738 shares of the utilities provider’s stock after selling 7,250 shares during the quarter. Castleark Management LLC’s holdings in ONEOK were worth $2,101,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Brighton Jones LLC grew its position in ONEOK by 137.1% in the fourth quarter. Brighton Jones LLC now owns 15,278 shares of the utilities provider’s stock valued at $1,534,000 after acquiring an additional 8,834 shares during the period. Horizon Investments LLC grew its holdings in shares of ONEOK by 10.7% in the 1st quarter. Horizon Investments LLC now owns 10,498 shares of the utilities provider’s stock worth $1,029,000 after purchasing an additional 1,012 shares during the last quarter. American Century Companies Inc. increased its position in shares of ONEOK by 22.3% during the 1st quarter. American Century Companies Inc. now owns 1,087,920 shares of the utilities provider’s stock worth $107,944,000 after purchasing an additional 198,497 shares in the last quarter. Cresset Asset Management LLC increased its position in shares of ONEOK by 8.2% during the 1st quarter. Cresset Asset Management LLC now owns 56,470 shares of the utilities provider’s stock worth $5,603,000 after purchasing an additional 4,272 shares in the last quarter. Finally, Raymond James Financial Inc. lifted its holdings in ONEOK by 41.6% during the 1st quarter. Raymond James Financial Inc. now owns 2,577,433 shares of the utilities provider’s stock valued at $255,733,000 after purchasing an additional 757,768 shares during the last quarter. 69.13% of the stock is owned by institutional investors and hedge funds.

ONEOK Trading Down 0.1%

Shares of OKE opened at $73.58 on Monday. The stock’s fifty day simple moving average is $70.27 and its 200-day simple moving average is $75.12. The firm has a market capitalization of $46.30 billion, a PE ratio of 13.52, a price-to-earnings-growth ratio of 4.51 and a beta of 0.95. ONEOK, Inc. has a 12-month low of $64.02 and a 12-month high of $111.02. 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 (NYSE:OKE) last announced its earnings results on Tuesday, October 28th. The utilities provider reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.48 by $0.01. The firm had revenue of $8.63 billion during the quarter, compared to analyst estimates of $8.23 billion. ONEOK had a net margin of 10.58% and a return on equity of 15.12%. During the same period in the prior year, the business earned $1.18 EPS. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. As a group, research analysts predict 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 was paid on Friday, November 14th. Investors of record on Monday, November 3rd were paid a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 5.6%. The ex-dividend date was Monday, November 3rd. ONEOK’s dividend payout ratio (DPR) is 75.74%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Citigroup decreased their price objective on shares of ONEOK from $102.00 to $95.00 and set a “buy” rating on the stock in a research note on Friday, October 31st. Argus raised ONEOK from a “hold” rating to a “buy” rating and set a $79.00 price target for the company in a report on Thursday, November 6th. Morgan Stanley reduced their price objective on ONEOK from $122.00 to $110.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 26th. Scotiabank decreased their target price on ONEOK from $88.00 to $87.00 and set a “sector outperform” rating on the stock in a report on Tuesday, November 4th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $72.00 price target on shares of ONEOK in a report on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $88.00.

Insider Transactions at ONEOK

In other ONEOK news, Director Brian L. Derksen acquired 2,500 shares of the business’s stock in a transaction dated Monday, November 3rd. The stock was bought at an average cost of $66.00 per share, with a total value of $165,000.00. Following the completion of the transaction, the director directly owned 21,200 shares in the company, valued at approximately $1,399,200. This represents a 13.37% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.20% 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.