ONEOK, Inc. $OKE Shares Acquired by Beacon Financial Group

Beacon Financial Group increased its stake in ONEOK, Inc. (NYSE:OKE) by 68.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,555 shares of the utilities provider’s stock after acquiring an additional 11,630 shares during the period. Beacon Financial Group’s holdings in ONEOK were worth $2,084,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in OKE. Brighton Jones LLC boosted its holdings in shares of ONEOK by 137.1% during the fourth quarter. Brighton Jones LLC now owns 15,278 shares of the utilities provider’s stock worth $1,534,000 after purchasing an additional 8,834 shares during the period. Quantbot Technologies LP bought a new position in shares of ONEOK in the 1st quarter valued at approximately $1,529,000. BI Asset Management Fondsmaeglerselskab A S raised its position in shares of ONEOK by 103.4% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 71,270 shares of the utilities provider’s stock valued at $7,071,000 after purchasing an additional 36,237 shares during the period. Groupama Asset Managment raised its holdings in ONEOK by 4.0% in the 1st quarter. Groupama Asset Managment now owns 24,625 shares of the utilities provider’s stock worth $2,425,000 after acquiring an additional 948 shares during the period. Finally, Banco Bilbao Vizcaya Argentaria S.A. increased its position in ONEOK by 6.7% in the 1st quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 16,040 shares of the utilities provider’s stock worth $1,591,000 after buying an additional 1,005 shares during the period. Institutional investors own 69.13% of the company’s stock.

ONEOK Stock Up 2.7%

Shares of NYSE OKE opened at $73.08 on Thursday. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.75 and a current ratio of 0.90. The stock has a market capitalization of $45.98 billion, a P/E ratio of 13.43, a PEG ratio of 4.36 and a beta of 0.95. The stock’s fifty day moving average is $70.26 and its 200 day moving average is $74.98. ONEOK, Inc. has a 52 week low of $64.02 and a 52 week high of $111.02.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Tuesday, October 28th. The utilities provider reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.48 by $0.01. The company had revenue of $8.63 billion for 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 previous year, the firm posted $1.18 EPS. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. Sell-side analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Monday, November 3rd were issued a dividend of $1.03 per share. The ex-dividend date was Monday, November 3rd. This represents a $4.12 annualized dividend and a yield of 5.6%. ONEOK’s dividend payout ratio is presently 75.74%.

Analyst Upgrades and Downgrades

OKE has been the topic of a number of recent research reports. Raymond James Financial reiterated an “outperform” rating and set a $82.00 price target (down previously from $100.00) on shares of ONEOK in a research note on Friday, October 24th. The Goldman Sachs Group reissued a “neutral” rating and issued a $72.00 price target on shares of ONEOK in a report on Monday, November 3rd. Weiss Ratings restated a “hold (c)” rating on shares of ONEOK in a research report on Monday. Stifel Nicolaus set a $94.00 target price on ONEOK in a research note on Thursday, October 30th. Finally, Scotiabank lowered their price objective on shares of ONEOK from $88.00 to $87.00 and set a “sector outperform” rating for the company in a research report on Tuesday, November 4th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $88.00.

Insiders Place Their Bets

In related news, Director Brian L. Derksen acquired 2,500 shares of the firm’s stock in a transaction on Monday, November 3rd. The stock was purchased at an average cost of $66.00 per share, with a total value of $165,000.00. Following the acquisition, the director owned 21,200 shares of the company’s stock, valued at approximately $1,399,200. This trade represents a 13.37% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.21% of the company’s stock.

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.