Cwm LLC Has $3.72 Million Stake in ONEOK, Inc. $OKE

Cwm LLC grew its stake in shares of ONEOK, Inc. (NYSE:OKE) by 16.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 50,925 shares of the utilities provider’s stock after buying an additional 7,222 shares during the period. Cwm LLC’s holdings in ONEOK were worth $3,716,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of OKE. Vanguard Group Inc. boosted its stake in ONEOK by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 76,510,971 shares of the utilities provider’s stock worth $6,245,591,000 after acquiring an additional 1,314,002 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in ONEOK by 2.9% in the second quarter. Charles Schwab Investment Management Inc. now owns 21,570,904 shares of the utilities provider’s stock worth $1,760,833,000 after purchasing an additional 613,674 shares during the period. Geode Capital Management LLC boosted its position in shares of ONEOK by 2.3% during the second quarter. Geode Capital Management LLC now owns 15,800,797 shares of the utilities provider’s stock worth $1,284,303,000 after purchasing an additional 355,751 shares in the last quarter. Invesco Ltd. boosted its position in shares of ONEOK by 0.6% during the second quarter. Invesco Ltd. now owns 8,386,831 shares of the utilities provider’s stock worth $684,617,000 after purchasing an additional 46,892 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of ONEOK in the 2nd quarter valued at $562,832,000. 69.13% of the stock is owned by institutional investors.

Insider Transactions at ONEOK

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

Wall Street Analysts Forecast Growth

Several brokerages recently commented on OKE. Argus raised ONEOK from a “hold” rating to a “buy” rating and set a $79.00 price objective on the stock in a research note on Thursday, November 6th. Stifel Nicolaus set a $94.00 price target on ONEOK in a research report on Thursday, October 30th. Wells Fargo & Company cut 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. Raymond James Financial reissued an “outperform” rating and set a $82.00 target price (down from $100.00) on shares of ONEOK in a research note on Friday, October 24th. Finally, TD Cowen dropped their target price 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 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 stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $88.00.

ONEOK Stock Down 0.4%

Shares of ONEOK stock opened at $73.52 on Friday. The firm has a market cap of $46.26 billion, a PE ratio of 13.51, a P/E/G ratio of 4.49 and a beta of 0.94. The business’s 50 day simple moving average is $71.11 and its 200 day simple moving average is $74.34. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.75 and a current ratio of 0.90. ONEOK, Inc. has a 52-week low of $64.02 and a 52-week high of $111.02.

ONEOK (NYSE:OKE) last released 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. The firm had revenue of $8.63 billion during the quarter, compared to the consensus estimate 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 prior year, the firm posted $1.18 EPS. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. On average, analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Monday, November 3rd were given a $1.03 dividend. The ex-dividend date of this dividend was Monday, November 3rd. This represents a $4.12 dividend on an annualized basis and a yield of 5.6%. ONEOK’s dividend payout ratio (DPR) is 75.74%.

ONEOK Company 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.