Advisory Services Network LLC Grows Stock Position in ONEOK, Inc. $OKE

Advisory Services Network LLC raised its stake in ONEOK, Inc. (NYSE:OKE) by 36.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 41,020 shares of the utilities provider’s stock after purchasing an additional 10,879 shares during the quarter. Advisory Services Network LLC’s holdings in ONEOK were worth $3,368,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Access Investment Management LLC purchased a new position in shares of ONEOK in the 2nd quarter valued at $33,000. Twin Peaks Wealth Advisors LLC purchased a new stake in ONEOK during the 2nd quarter worth $34,000. Trust Co. of Toledo NA OH acquired a new stake in ONEOK in the 2nd quarter valued at $42,000. MTM Investment Management LLC purchased a new position in ONEOK in the second quarter valued at about $44,000. Finally, CNB Bank purchased a new position in ONEOK in the second quarter valued at about $51,000. 69.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on OKE. TD Cowen lowered their target price on ONEOK from $78.00 to $76.00 and set a “hold” rating for the company in a research note on Thursday, October 30th. Scotiabank decreased their price target on ONEOK from $88.00 to $87.00 and set a “sector outperform” rating for the company in a report on Tuesday, November 4th. Citigroup lowered their price objective on shares of ONEOK from $102.00 to $95.00 and set a “buy” rating for the company in a research report on Friday, October 31st. Morgan Stanley reduced their target price on shares of ONEOK from $122.00 to $110.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 26th. Finally, Mizuho lowered their price target on shares of ONEOK from $87.00 to $82.00 and set a “neutral” rating for the company in a report on Friday, August 29th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $88.00.

ONEOK Trading Down 2.4%

OKE opened at $71.10 on Wednesday. ONEOK, Inc. has a 12-month low of $64.02 and a 12-month high of $111.02. The company has a debt-to-equity ratio of 1.44, a current ratio of 0.90 and a quick ratio of 0.75. The stock has a market capitalization of $44.74 billion, a PE ratio of 13.07, a P/E/G ratio of 4.46 and a beta of 0.95. The firm’s fifty day moving average price is $70.25 and its 200 day moving average price is $75.00.

ONEOK (NYSE:OKE) last released its earnings results on Tuesday, October 28th. The utilities provider reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.48 by $0.01. The company had revenue of $8.63 billion during 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 in the previous year, the firm earned $1.18 EPS. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. As a group, research analysts expect that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Monday, November 3rd were issued a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 5.8%. The ex-dividend date of this dividend was Monday, November 3rd. ONEOK’s payout ratio is currently 75.74%.

Insider Transactions at ONEOK

In other news, Director Brian L. Derksen bought 2,500 shares of the firm’s stock in a transaction dated Monday, November 3rd. The stock was bought at an average price of $66.00 per share, for a total transaction of $165,000.00. Following the transaction, the director owned 21,200 shares in the company, valued at $1,399,200. The trade was a 13.37% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 0.20% of the stock is owned by insiders.

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.