Donoghue Forlines LLC Buys 2,126 Shares of ONEOK, Inc. $OKE

Donoghue Forlines LLC increased its stake in ONEOK, Inc. (NYSE:OKE) by 13.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,771 shares of the utilities provider’s stock after purchasing an additional 2,126 shares during the period. Donoghue Forlines LLC’s holdings in ONEOK were worth $1,451,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in ONEOK by 7.2% in the first quarter. Vanguard Group Inc. now owns 75,196,969 shares of the utilities provider’s stock valued at $7,461,043,000 after acquiring an additional 5,076,705 shares during the last quarter. Nuveen LLC bought a new stake in ONEOK during the 1st quarter worth about $440,535,000. Boston Partners bought a new position in shares of ONEOK in the 1st quarter valued at about $353,596,000. First Eagle Investment Management LLC boosted its stake in shares of ONEOK by 130.8% in the 2nd quarter. First Eagle Investment Management LLC now owns 6,256,173 shares of the utilities provider’s stock valued at $510,691,000 after purchasing an additional 3,545,256 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of ONEOK by 13.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 20,957,230 shares of the utilities provider’s stock worth $2,079,376,000 after buying an additional 2,542,449 shares during the period. 69.13% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on OKE shares. Argus raised shares of ONEOK from a “hold” rating to a “buy” rating and set a $79.00 target price for the company in a report on Thursday, November 6th. Weiss Ratings restated a “hold (c+)” rating on shares of ONEOK in a report on Wednesday, October 8th. Raymond James Financial restated an “outperform” rating and set a $82.00 target price (down from $100.00) on shares of ONEOK in a research report on Friday, October 24th. Mizuho cut their price target 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. Finally, Scotiabank reduced their price objective on shares of ONEOK from $88.00 to $87.00 and set a “sector outperform” rating on the stock in a research note on Tuesday, November 4th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $91.94.

ONEOK Price Performance

NYSE OKE opened at $69.38 on Friday. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.46 and a current ratio of 0.90. The stock has a market cap of $43.66 billion, a price-to-earnings ratio of 12.75, a PEG ratio of 2.62 and a beta of 1.05. The business has a 50 day simple moving average of $70.44 and a 200 day simple moving average of $76.79. ONEOK, Inc. has a 52-week low of $64.02 and a 52-week high of $118.07.

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, 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 company had revenue of $8.63 billion during the quarter, compared to analysts’ expectations of $8.23 billion. During the same quarter in the prior year, the company 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 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Monday, November 3rd will be issued a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 5.9%. The ex-dividend date is Monday, November 3rd. ONEOK’s dividend payout ratio is 75.74%.

Insider Activity

In other news, Director Brian L. Derksen acquired 2,500 shares of ONEOK stock in a transaction dated Monday, November 3rd. The stock was bought at an average cost of $66.00 per share, with a total value of $165,000.00. Following the completion of the transaction, 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.21% of the stock is owned by corporate insiders.

ONEOK Company 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.