Pacer Advisors Inc. Has $7.99 Million Stock Position in ONEOK, Inc. $OKE

Pacer Advisors Inc. lowered its position in ONEOK, Inc. (NYSE:OKE) by 20.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 109,426 shares of the utilities provider’s stock after selling 28,397 shares during the period. Pacer Advisors Inc.’s holdings in ONEOK were worth $7,985,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Global Wealth Strategies & Associates acquired a new stake in ONEOK in the 3rd quarter valued at $29,000. Access Investment Management LLC acquired a new position in shares of ONEOK during the second quarter valued at about $33,000. Twin Peaks Wealth Advisors LLC bought a new stake in shares of ONEOK during the second quarter worth about $34,000. Trust Co. of Toledo NA OH acquired a new stake in shares of ONEOK in the 2nd quarter worth about $42,000. Finally, MTM Investment Management LLC acquired a new stake in shares of ONEOK in the 2nd quarter worth about $44,000. Institutional investors own 69.13% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on OKE. Argus raised ONEOK from a “hold” rating to a “buy” rating and set a $79.00 price objective for the company in a report on Thursday, November 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ONEOK in a research report on Monday, December 22nd. Raymond James Financial reissued an “outperform” rating and issued a $82.00 price target (down from $100.00) on shares of ONEOK in a research report on Friday, October 24th. Stifel Nicolaus set a $94.00 price objective on shares of ONEOK in a report on Thursday, October 30th. Finally, TD Cowen lowered their target price on shares of ONEOK from $78.00 to $76.00 and set a “hold” rating for the company in a report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $88.00.

ONEOK Trading Down 0.6%

Shares of ONEOK stock opened at $72.83 on Monday. The firm has a market cap of $45.82 billion, a PE ratio of 13.39, a P/E/G ratio of 4.45 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 debt-to-equity ratio of 1.44, a current ratio of 0.90 and a quick ratio of 0.75. The stock has a fifty day moving average price of $70.76 and a 200-day moving average price of $74.48.

ONEOK (NYSE:OKE) last issued its quarterly earnings results on Tuesday, October 28th. The utilities provider reported $1.49 earnings per share 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 for the quarter, compared to the consensus estimate of $8.23 billion. During the same period in the previous year, the firm earned $1.18 EPS. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. Equities research analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Monday, November 3rd were paid a dividend of $1.03 per share. 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 (DPR) is presently 75.74%.

Insider Activity at ONEOK

In other news, Director Brian L. Derksen acquired 2,500 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The shares were acquired 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 owned 21,200 shares in the company, valued at approximately $1,399,200. This trade represents 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 hyperlink. Company insiders own 0.20% of the company’s stock.

ONEOK Profile

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.