ONEOK, Inc. $OKE Shares Bought by WealthBridge Capital Management LLC

WealthBridge Capital Management LLC grew its holdings in ONEOK, Inc. (NYSE:OKE) by 12.7% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 10,616 shares of the utilities provider’s stock after buying an additional 1,197 shares during the period. WealthBridge Capital Management LLC’s holdings in ONEOK were worth $867,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Financial Network Wealth Advisors LLC lifted its position in ONEOK by 2,466.7% in the first quarter. Financial Network Wealth Advisors LLC now owns 385 shares of the utilities provider’s stock valued at $38,000 after buying an additional 370 shares during the last quarter. Access Investment Management LLC acquired a new stake in shares of ONEOK during the second quarter valued at about $33,000. Cheviot Value Management LLC acquired a new position in shares of ONEOK in the 1st quarter worth approximately $46,000. Trust Co. of Toledo NA OH purchased a new position in shares of ONEOK during the 2nd quarter worth approximately $42,000. Finally, MTM Investment Management LLC purchased a new position in shares of ONEOK during the 2nd quarter worth approximately $44,000. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

ONEOK Price Performance

Shares of NYSE OKE opened at $70.52 on Friday. The company has a debt-to-equity ratio of 1.44, a current ratio of 0.90 and a quick ratio of 0.46. The company has a market cap of $44.37 billion, a price-to-earnings ratio of 12.96, a price-to-earnings-growth ratio of 2.62 and a beta of 1.05. The stock’s 50-day moving average is $70.09 and its two-hundred day moving average is $76.22. ONEOK, Inc. has a 1-year low of $64.02 and a 1-year high of $118.07.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Tuesday, October 28th. The utilities provider reported $1.49 earnings per share (EPS) 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 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 business posted $1.18 EPS. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. Analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Monday, November 3rd were issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 5.8%. The ex-dividend date was Monday, November 3rd. ONEOK’s payout ratio is 75.74%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Stifel Nicolaus set a $94.00 target price on ONEOK in a research report on Thursday, October 30th. Barclays decreased their target price on ONEOK from $83.00 to $78.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 9th. Mizuho dropped their target price on ONEOK from $87.00 to $82.00 and set a “neutral” rating for the company in a research report on Friday, August 29th. Raymond James Financial reiterated an “outperform” rating and set a $82.00 price target (down from $100.00) on shares of ONEOK in a research note on Friday, October 24th. Finally, Morgan Stanley lowered their price objective on shares of ONEOK from $122.00 to $110.00 and set an “overweight” rating for the company in a research note on Tuesday, August 26th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $89.27.

Insider Activity at ONEOK

In other news, Director Brian L. Derksen acquired 2,500 shares of ONEOK stock in a transaction dated Monday, November 3rd. The shares were acquired at an average cost of $66.00 per share, for a total transaction of $165,000.00. Following the acquisition, the director owned 21,200 shares of the company’s stock, valued at $1,399,200. This trade represents a 13.37% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.21% of the company’s stock.

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.