Arkadios Wealth Advisors Buys 10,615 Shares of ONEOK, Inc. $OKE

Arkadios Wealth Advisors lifted its stake in ONEOK, Inc. (NYSE:OKE) by 98.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,354 shares of the utilities provider’s stock after buying an additional 10,615 shares during the period. Arkadios Wealth Advisors’ holdings in ONEOK were worth $1,558,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of OKE. Bogart Wealth LLC lifted its position in ONEOK by 3.1% in the second quarter. Bogart Wealth LLC now owns 4,031 shares of the utilities provider’s stock valued at $329,000 after purchasing an additional 122 shares during the last quarter. Empowered Funds LLC boosted its position in ONEOK by 0.8% during the 1st quarter. Empowered Funds LLC now owns 17,957 shares of the utilities provider’s stock valued at $1,782,000 after buying an additional 137 shares during the period. MJT & Associates Financial Advisory Group Inc. grew 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 acquiring an additional 140 shares during the last quarter. Focused Wealth Management Inc increased its position in shares of ONEOK by 4.3% in the third quarter. Focused Wealth Management Inc now owns 3,441 shares of the utilities provider’s stock valued at $251,000 after acquiring an additional 142 shares during the period. Finally, Fidelis Capital Partners LLC raised its stake in shares of ONEOK by 4.2% during the second quarter. Fidelis Capital Partners LLC now owns 3,589 shares of the utilities provider’s stock valued at $270,000 after acquiring an additional 144 shares during the last quarter. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

ONEOK Price Performance

Shares of OKE opened at $78.02 on Friday. The stock has a market cap of $49.09 billion, a PE ratio of 14.34, a price-to-earnings-growth ratio of 4.45 and a beta of 0.94. 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 fifty-two week low of $64.02 and a fifty-two week high of $105.86. The firm’s 50-day simple moving average is $73.12 and its two-hundred day simple moving average is $73.55.

ONEOK (NYSE:OKE) last released its 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. ONEOK had a net margin of 10.58% and a return on equity of 15.12%. The firm had revenue of $8.63 billion during the quarter, compared to analyst estimates of $8.23 billion. During the same period last year, the business earned $1.18 earnings per share. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. Analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Monday, February 2nd will be issued a dividend of $1.07 per share. The ex-dividend date is Monday, February 2nd. This is a boost from ONEOK’s previous quarterly dividend of $1.03. This represents a $4.28 annualized dividend and a dividend yield of 5.5%. ONEOK’s dividend payout ratio is 75.74%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on OKE shares. UBS Group reduced their price target on ONEOK from $114.00 to $103.00 and set a “buy” rating on the stock in a report on Thursday. Raymond James Financial reiterated an “outperform” rating and issued a $82.00 price objective (down from $100.00) on shares of ONEOK in a research report on Friday, October 24th. Scotiabank reaffirmed an “outperform” rating and issued a $91.00 price target on shares of ONEOK in a research note on Friday, January 16th. Weiss Ratings reissued a “hold (c)” rating on shares of ONEOK in a research report on Monday, December 29th. Finally, Citigroup decreased their price objective on shares of ONEOK from $102.00 to $95.00 and set a “buy” rating for the company in a report on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, ONEOK currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.56.

Insider Activity

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 price of $66.00 per share, for a total transaction of $165,000.00. Following the purchase, the director directly owned 21,200 shares in the company, valued at approximately $1,399,200. This trade represents a 13.37% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.21% of the stock is currently owned by corporate insiders.

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.