B. Riley Wealth Advisors Inc. Invests $906,000 in ONEOK, Inc. $OKE

B. Riley Wealth Advisors Inc. bought a new position in ONEOK, Inc. (NYSE:OKE) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 11,104 shares of the utilities provider’s stock, valued at approximately $906,000.

A number of other hedge funds also recently made changes to their positions in the business. Access Investment Management LLC bought a new stake in ONEOK during the 2nd quarter valued at $33,000. Twin Peaks Wealth Advisors LLC bought a new stake in shares of ONEOK during the second quarter valued at about $34,000. Trust Co. of Toledo NA OH acquired a new stake in ONEOK in the second quarter worth about $42,000. MTM Investment Management LLC bought a new position in ONEOK in the 2nd quarter valued at about $44,000. Finally, CNB Bank acquired a new position in ONEOK during the 2nd quarter valued at about $51,000. Institutional investors own 69.13% of the company’s stock.

ONEOK Stock Performance

Shares of OKE stock opened at $72.87 on Tuesday. The company has a market capitalization of $45.85 billion, a price-to-earnings ratio of 13.40, a P/E/G ratio of 4.51 and a beta of 0.95. ONEOK, Inc. has a 1-year low of $64.02 and a 1-year high of $111.02. The company has a current ratio of 0.90, a quick ratio of 0.75 and a debt-to-equity ratio of 1.44. The stock’s fifty day simple moving average is $70.27 and its 200-day simple moving average is $75.06.

ONEOK (NYSE:OKE) last released its earnings results on Tuesday, October 28th. The utilities provider reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.48 by $0.01. ONEOK had a net margin of 10.58% and a return on equity of 15.12%. The company had revenue of $8.63 billion during the quarter, compared to the consensus estimate of $8.23 billion. During the same quarter in the prior year, the firm earned $1.18 EPS. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. On average, sell-side analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The firm also recently disclosed 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 annualized dividend and a dividend yield of 5.7%. The ex-dividend date of this dividend was Monday, November 3rd. ONEOK’s dividend payout ratio is currently 75.74%.

Insiders Place Their Bets

In other ONEOK news, Director Brian L. Derksen purchased 2,500 shares of the firm’s stock in a transaction 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 purchase, the director directly owned 21,200 shares of the company’s stock, valued at approximately $1,399,200. This represents a 13.37% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on OKE shares. 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 report on Thursday, October 9th. Raymond James Financial reiterated an “outperform” rating and set a $82.00 price target (down from $100.00) on shares of ONEOK in a research report on Friday, October 24th. Morgan Stanley dropped 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. Mizuho decreased their target price on ONEOK from $87.00 to $82.00 and set a “neutral” rating for the company in a research note on Friday, August 29th. Finally, Citigroup dropped their price target on shares of ONEOK from $102.00 to $95.00 and set a “buy” rating on the stock in a research report on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $88.00.

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.