Columbus Macro LLC Raises Holdings in ONEOK, Inc. $OKE

Columbus Macro LLC lifted its position in shares of ONEOK, Inc. (NYSE:OKE) by 44.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 155,235 shares of the utilities provider’s stock after acquiring an additional 47,885 shares during the quarter. ONEOK makes up 1.3% of Columbus Macro LLC’s investment portfolio, making the stock its 14th largest position. Columbus Macro LLC’s holdings in ONEOK were worth $11,328,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in OKE. Bogart Wealth LLC boosted its position in ONEOK by 3.1% during the second quarter. Bogart Wealth LLC now owns 4,031 shares of the utilities provider’s stock worth $329,000 after purchasing an additional 122 shares during the period. Presima Securities ULC lifted its stake in shares of ONEOK by 1.4% during the 1st quarter. Presima Securities ULC now owns 9,477 shares of the utilities provider’s stock valued at $940,000 after buying an additional 127 shares in the last quarter. Empowered Funds LLC boosted its holdings in ONEOK by 0.8% in the 1st quarter. Empowered Funds LLC now owns 17,957 shares of the utilities provider’s stock worth $1,782,000 after buying an additional 137 shares during the period. MJT & Associates Financial Advisory Group Inc. boosted its holdings in ONEOK by 5.8% in the 2nd quarter. MJT & Associates Financial Advisory Group Inc. now owns 2,540 shares of the utilities provider’s stock worth $207,000 after buying an additional 140 shares during the period. Finally, Focused Wealth Management Inc grew its stake in ONEOK by 4.3% in the 3rd quarter. Focused Wealth Management Inc now owns 3,441 shares of the utilities provider’s stock valued at $251,000 after buying an additional 142 shares in the last quarter. 69.13% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Argus upgraded ONEOK from a “hold” rating to a “buy” rating and set a $79.00 target price on the stock in a research report on Thursday, November 6th. Wells Fargo & Company dropped their price objective on ONEOK from $90.00 to $82.00 and set an “equal weight” rating on the stock in a report on Thursday, October 30th. Stifel Nicolaus set a $94.00 target price on ONEOK in a research note on Thursday, October 30th. The Goldman Sachs Group reiterated a “neutral” rating and set a $72.00 price target on shares of ONEOK in a research report on Monday, November 3rd. Finally, TD Cowen lowered their price target on shares of ONEOK from $78.00 to $76.00 and set a “hold” rating on the stock in a report on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $88.00.

ONEOK Stock Performance

NYSE:OKE opened at $72.83 on Friday. The business’s 50-day moving average price is $70.76 and its two-hundred day moving average price is $74.54. ONEOK, Inc. has a twelve month low of $64.02 and a twelve month high of $111.02. The stock has a market cap of $45.82 billion, a P/E ratio of 13.39, a PEG ratio of 4.45 and a beta of 0.95. 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 issued its quarterly earnings data on Tuesday, October 28th. The utilities provider reported $1.49 EPS 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 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 in the previous year, the firm earned $1.18 earnings per share. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. As a group, equities analysts predict that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Dividend Announcement

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

Insider Activity at ONEOK

In related news, Director Brian L. Derksen acquired 2,500 shares of the stock in a transaction dated 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 transaction, the director owned 21,200 shares in the company, valued at $1,399,200. This represents a 13.37% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. 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.