Vise Technologies Inc. Takes Position in ONEOK, Inc. $OKE

Vise Technologies Inc. bought a new position in ONEOK, Inc. (NYSE:OKE) during the second quarter, Holdings Channel.com reports. The fund bought 20,179 shares of the utilities provider’s stock, valued at approximately $1,647,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in ONEOK by 7.2% in the first quarter. Vanguard Group Inc. now owns 75,196,969 shares of the utilities provider’s stock worth $7,461,043,000 after buying an additional 5,076,705 shares during the last quarter. Nuveen LLC bought a new stake in shares of ONEOK during the 1st quarter worth $440,535,000. Boston Partners acquired a new position in shares of ONEOK in the 1st quarter worth $353,596,000. First Eagle Investment Management LLC raised its position in shares of ONEOK by 130.8% during the second quarter. First Eagle Investment Management LLC now owns 6,256,173 shares of the utilities provider’s stock worth $510,691,000 after purchasing an additional 3,545,256 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of ONEOK by 13.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 20,957,230 shares of the utilities provider’s stock worth $2,079,376,000 after purchasing an additional 2,542,449 shares during the period. 69.13% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at ONEOK

In other news, Director Brian L. Derksen acquired 2,500 shares of ONEOK stock in a transaction that occurred on Monday, November 3rd. The stock was purchased at an average price of $66.00 per share, with a total value of $165,000.00. Following the completion of the transaction, 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.21% of the company’s stock.

ONEOK Stock Performance

OKE stock opened at $69.09 on Wednesday. The firm has a 50 day simple moving average of $70.64 and a 200 day simple moving average of $76.90. ONEOK, Inc. has a 52 week low of $64.02 and a 52 week high of $118.07. The stock has a market cap of $43.47 billion, a P/E ratio of 12.70, a P/E/G ratio of 2.62 and a beta of 1.05. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.46 and a current ratio of 0.90.

ONEOK (NYSE:OKE) last released its quarterly earnings data 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 net margin of 10.58% and a return on equity of 15.12%. The firm had revenue of $9.17 billion for the quarter, compared to analyst estimates of $8.23 billion. During the same quarter in the prior year, the business earned $1.18 EPS. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. Research analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The company also recently disclosed 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 currently 75.74%.

Analyst Upgrades and Downgrades

OKE has been the subject of a number of recent analyst reports. The Goldman Sachs Group reiterated a “neutral” rating and issued a $72.00 price target on shares of ONEOK in a research report on Monday, November 3rd. Wells Fargo & Company reduced their price objective on shares of ONEOK from $90.00 to $82.00 and set an “equal weight” rating for the company in a research note on Thursday, October 30th. Mizuho dropped their target price on shares of ONEOK from $87.00 to $82.00 and set a “neutral” rating on the stock in a research report on Friday, August 29th. TD Cowen cut their price target 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. Finally, Barclays decreased their price objective on shares of ONEOK from $83.00 to $78.00 and set an “equal weight” rating for the company in a research note on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, ONEOK currently has an average rating of “Moderate Buy” and an average target price of $91.94.

About ONEOK

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.