Midwest Trust Co Purchases Shares of 11,166 ONEOK, Inc. $OKE

Midwest Trust Co purchased a new position in shares of ONEOK, Inc. (NYSE:OKE) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 11,166 shares of the utilities provider’s stock, valued at approximately $911,000.

Other large investors also recently bought and sold shares of the company. Assetmark Inc. lifted its stake in shares of ONEOK by 84.0% in the 2nd quarter. Assetmark Inc. now owns 4,047 shares of the utilities provider’s stock worth $330,000 after acquiring an additional 1,848 shares during the period. Morningstar Investment Management LLC raised its holdings in ONEOK by 18.2% during the second quarter. Morningstar Investment Management LLC now owns 27,375 shares of the utilities provider’s stock worth $2,235,000 after purchasing an additional 4,206 shares in the last quarter. Dark Forest Capital Management LP lifted its position in ONEOK by 409.5% in the first quarter. Dark Forest Capital Management LP now owns 40,372 shares of the utilities provider’s stock valued at $4,006,000 after purchasing an additional 32,448 shares during the period. Jackson Hole Capital Partners LLC boosted its holdings in ONEOK by 24.6% in the 2nd quarter. Jackson Hole Capital Partners LLC now owns 81,923 shares of the utilities provider’s stock valued at $6,687,000 after purchasing an additional 16,151 shares in the last quarter. Finally, Prudent Man Advisors LLC increased its position in ONEOK by 83.2% during the 2nd quarter. Prudent Man Advisors LLC now owns 13,388 shares of the utilities provider’s stock worth $1,093,000 after purchasing an additional 6,082 shares during the period. Institutional investors and hedge funds own 69.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on OKE. Scotiabank decreased their price target on ONEOK from $88.00 to $87.00 and set a “sector outperform” rating on the stock in a research note on Tuesday, November 4th. Morgan Stanley decreased their target price on shares of ONEOK from $122.00 to $110.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 26th. Argus upgraded shares of ONEOK from a “hold” rating to a “buy” rating and set a $79.00 price target for the company in a report on Thursday, November 6th. Stifel Nicolaus set a $94.00 price objective on shares of ONEOK in a research note on Thursday, October 30th. Finally, Royal Bank Of Canada lowered their target price on shares of ONEOK from $94.00 to $88.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 13th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $91.94.

ONEOK Stock Performance

ONEOK stock opened at $69.09 on Wednesday. The stock has a fifty day moving average price of $70.64 and a 200 day moving average price of $76.90. ONEOK, Inc. has a 52 week low of $64.02 and a 52 week high of $118.07. The firm has a market capitalization of $43.47 billion, a P/E ratio of 12.70, a PEG ratio of 2.62 and a beta of 1.05. The company has a current ratio of 0.90, a quick ratio of 0.46 and a debt-to-equity ratio of 1.44.

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 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 $9.17 billion for the quarter, compared to analyst estimates of $8.23 billion. During the same quarter last year, the business 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 earnings per share for the current year.

ONEOK Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Monday, November 3rd will be issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 6.0%. The ex-dividend date is Monday, November 3rd. ONEOK’s dividend payout ratio (DPR) is presently 75.74%.

Insider Buying and Selling

In other news, Director Brian L. Derksen acquired 2,500 shares of the company’s stock in a transaction dated 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 completion of the purchase, the director directly owned 21,200 shares of the company’s stock, valued at approximately $1,399,200. This trade represents a 13.37% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.21% of the company’s stock.

ONEOK Profile

ONEOK, Inc engages in gathering, processing, fractionation, storage, transportation, and marketing of natural gas and natural gas liquids (NGL) in the United States. It operates through four segments: Natural Gas Gathering and Processing, Natural Gas Liquids, Natural Gas Pipelines, and Refined Products and Crude.