Benson Investment Management Company Inc. Makes New $5.39 Million Investment in ONEOK, Inc. $OKE

Benson Investment Management Company Inc. acquired a new stake in ONEOK, Inc. (NYSE:OKE) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 73,875 shares of the utilities provider’s stock, valued at approximately $5,391,000.

Several other institutional investors and hedge funds also recently made changes to their positions in OKE. Global Wealth Strategies & Associates bought a new stake in ONEOK in the third quarter worth approximately $29,000. Access Investment Management LLC bought a new position in shares of ONEOK during the 2nd quarter worth approximately $33,000. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of ONEOK during the 2nd quarter worth approximately $34,000. Trust Co. of Toledo NA OH bought a new stake in shares of ONEOK in the 2nd quarter valued at $42,000. Finally, MTM Investment Management LLC acquired a new position in shares of ONEOK during the 2nd quarter valued at $44,000. Institutional investors own 69.13% of the company’s stock.

ONEOK Stock Performance

Shares of OKE opened at $71.68 on Friday. 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 50 day moving average price of $70.32 and a two-hundred day moving average price of $74.83. The firm has a market capitalization of $45.11 billion, a P/E ratio of 13.18, a P/E/G ratio of 4.38 and a beta of 0.95. ONEOK, Inc. has a 52 week low of $64.02 and a 52 week high of $111.02.

ONEOK (NYSE:OKE) last posted its earnings results on Tuesday, October 28th. The utilities provider reported $1.49 earnings per share for the quarter, beating analysts’ consensus estimates 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 return on equity of 15.12% and a net margin of 10.58%.During the same quarter last year, the company earned $1.18 earnings per share. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. Equities analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Monday, November 3rd were issued a $1.03 dividend. The ex-dividend date was Monday, November 3rd. This represents a $4.12 annualized dividend and a dividend yield of 5.7%. ONEOK’s dividend payout ratio is currently 75.74%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on OKE shares. The Goldman Sachs Group restated a “neutral” rating and issued a $72.00 price target on shares of ONEOK in a report on Monday, November 3rd. Mizuho cut their price objective on shares of ONEOK from $87.00 to $82.00 and set a “neutral” rating on the stock in a research report on Friday, August 29th. Stifel Nicolaus set a $94.00 target price on ONEOK in a research note on Thursday, October 30th. Barclays decreased their target price on ONEOK from $83.00 to $78.00 and set an “equal weight” rating for the company in a research report on Thursday, October 9th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of ONEOK in a report on Monday, December 15th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, ONEOK currently has a consensus rating of “Moderate Buy” and an average price target of $88.00.

Insider Buying and Selling at ONEOK

In other news, Director Brian L. Derksen purchased 2,500 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The shares were 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 of the company’s stock, valued at approximately $1,399,200. This trade represents a 13.37% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.21% of the stock is owned by insiders.

About ONEOK

ONEOK, Inc (NYSE: OKE) is a publicly traded midstream energy company headquartered in Tulsa, Oklahoma. The company owns and operates a portfolio of natural gas and natural gas liquids (NGL) pipelines, processing facilities, fractionators and storage and terminal assets. Its operations are focused on gathering, processing, transporting, fractionating and marketing NGLs and interstate natural gas, providing critical infrastructure that connects hydrocarbon production to refineries, petrochemical plants and other end markets.

ONEOK’s asset base includes pipeline systems and processing plants that move and condition natural gas, along with infrastructure for the transportation, storage and fractionation of NGLs such as ethane, propane and butane.