ONEOK, Inc. $OKE Stock Holdings Boosted by Intech Investment Management LLC

Intech Investment Management LLC increased its position in ONEOK, Inc. (NYSE:OKE) by 172.8% during the second quarter, Holdings Channel reports. The fund owned 275,027 shares of the utilities provider’s stock after purchasing an additional 174,224 shares during the quarter. Intech Investment Management LLC’s holdings in ONEOK were worth $22,450,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Access Investment Management LLC acquired a new stake in ONEOK in the 2nd quarter valued at approximately $33,000. Financial Network Wealth Advisors LLC lifted its stake in shares of ONEOK by 2,466.7% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 385 shares of the utilities provider’s stock worth $38,000 after acquiring an additional 370 shares during the period. Trust Co. of Toledo NA OH bought a new position in shares of ONEOK in the second quarter valued at approximately $42,000. Cheviot Value Management LLC acquired a new position in shares of ONEOK during the first quarter valued at approximately $46,000. Finally, CNB Bank bought a new stake in ONEOK during the second quarter worth approximately $51,000. 69.13% of the stock is owned by institutional investors and hedge funds.

ONEOK Trading Up 1.6%

ONEOK stock opened at $70.55 on Friday. ONEOK, Inc. has a 52 week low of $64.02 and a 52 week high of $118.07. 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 firm has a market capitalization of $44.39 billion, a price-to-earnings ratio of 12.97, a P/E/G ratio of 2.62 and a beta of 1.05. The company has a 50 day moving average price of $70.39 and a 200 day moving average price of $76.67.

ONEOK (NYSE:OKE) last issued its earnings results on Tuesday, October 28th. The utilities provider reported $1.49 EPS for the quarter, topping 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 business had revenue of $8.63 billion during the quarter, compared to analysts’ expectations of $8.23 billion. During the same quarter last year, the firm posted $1.18 earnings per share. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. Research analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Monday, November 3rd were issued a $1.03 dividend. The ex-dividend date was Monday, November 3rd. This represents a $4.12 dividend on an annualized basis and a dividend yield of 5.8%. ONEOK’s dividend payout ratio is currently 75.74%.

Insider Activity

In related news, Director Brian L. Derksen purchased 2,500 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The stock was acquired at an average cost of $66.00 per share, for a total transaction of $165,000.00. Following the completion of the acquisition, the director owned 21,200 shares in the company, valued at $1,399,200. This trade represents a 13.37% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.21% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on OKE. Royal Bank Of Canada decreased their price target on ONEOK from $94.00 to $88.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 13th. Citigroup decreased their target price on ONEOK from $102.00 to $95.00 and set a “buy” rating for the company in a research note on Friday, October 31st. Wells Fargo & Company dropped their price target on shares of ONEOK from $90.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 30th. 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. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $82.00 price objective (down previously from $100.00) on shares of ONEOK in a research note on Friday, October 24th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $89.27.

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.