Allstate Corp Invests $1.68 Million in ONEOK, Inc. $OKE

Allstate Corp acquired a new position in shares of ONEOK, Inc. (NYSE:OKE) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 23,035 shares of the utilities provider’s stock, valued at approximately $1,681,000.

Several other institutional investors have also bought and sold shares of the stock. City Holding Co. acquired a new position in ONEOK during the 3rd quarter worth about $28,000. Global Wealth Strategies & Associates bought a new position in ONEOK in the 3rd quarter valued at $29,000. Financial Consulate Inc. bought a new position in ONEOK in the third quarter valued at about $29,000. Access Investment Management LLC bought a new position in ONEOK in the second quarter valued at about $33,000. Finally, Twin Peaks Wealth Advisors LLC acquired a new stake in ONEOK during the 2nd quarter worth $34,000. Institutional investors and hedge funds own 69.13% of the company’s stock.

Wall Street Analyst Weigh In

OKE has been the subject of several research analyst reports. The Goldman Sachs Group reissued a “neutral” rating and issued a $72.00 price target on shares of ONEOK in a report on Monday, November 3rd. Stifel Nicolaus set a $94.00 target price on shares of ONEOK in a report on Thursday, October 30th. Scotiabank restated an “outperform” rating and set a $91.00 price objective on shares of ONEOK in a research report on Friday. UBS Group reissued a “buy” rating on shares of ONEOK in a report on Wednesday, January 7th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of ONEOK in a research report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $87.60.

Insider Activity at ONEOK

In related news, Director Brian L. Derksen purchased 2,500 shares of the firm’s stock in a transaction dated Monday, November 3rd. The shares were purchased at an average price of $66.00 per share, with a total value of $165,000.00. Following the acquisition, the director directly owned 21,200 shares of the company’s stock, valued at approximately $1,399,200. This represents a 13.37% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.20% of the stock is owned by insiders.

ONEOK Stock Down 0.5%

OKE stock opened at $74.06 on Wednesday. The stock has a fifty day moving average of $72.65 and a 200-day moving average of $73.52. 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 $111.02. The company has a market capitalization of $46.60 billion, a price-to-earnings ratio of 13.61, a PEG ratio of 4.18 and a beta of 0.94.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Tuesday, October 28th. The utilities provider reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.48 by $0.01. ONEOK had a return on equity of 15.12% and a net margin of 10.58%.The company had revenue of $8.63 billion during the quarter, compared to analysts’ expectations of $8.23 billion. During the same period in the previous year, the business earned $1.18 earnings per share. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. As a group, equities research analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current year.

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.