Stevens Capital Management LP Purchases Shares of 5,991 ONEOK, Inc. $OKE

Stevens Capital Management LP acquired a new position in ONEOK, Inc. (NYSE:OKE) in the second quarter, HoldingsChannel reports. The firm acquired 5,991 shares of the utilities provider’s stock, valued at approximately $489,000.

Several other institutional investors and hedge funds also recently made changes to their positions in OKE. Vanguard Group Inc. lifted its stake in ONEOK by 1.7% in the second quarter. Vanguard Group Inc. now owns 76,510,971 shares of the utilities provider’s stock worth $6,245,591,000 after purchasing an additional 1,314,002 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in 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 acquiring an additional 2,542,449 shares during the last quarter. Geode Capital Management LLC lifted its position in ONEOK by 2.3% in the second quarter. Geode Capital Management LLC now owns 15,800,797 shares of the utilities provider’s stock valued at $1,284,303,000 after purchasing an additional 355,751 shares during the last quarter. Invesco Ltd. increased its stake in shares of ONEOK by 25.1% in the first quarter. Invesco Ltd. now owns 8,339,939 shares of the utilities provider’s stock worth $827,489,000 after buying an additional 1,674,706 shares during the period. Finally, Tortoise Capital Advisors L.L.C. boosted its position in ONEOK by 17.1% during the 1st quarter. Tortoise Capital Advisors L.L.C. now owns 7,171,795 shares of the utilities provider’s stock valued at $711,586,000 after buying an additional 1,047,810 shares during the period. Institutional investors own 69.13% of the company’s stock.

ONEOK Stock Performance

Shares of ONEOK stock opened at $70.52 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.46 and a debt-to-equity ratio of 1.44. The firm has a market capitalization of $44.37 billion, a P/E ratio of 12.96, a P/E/G ratio of 2.62 and a beta of 1.05. The business has a fifty day simple moving average of $70.09 and a two-hundred day simple moving average of $76.19. ONEOK, Inc. has a 12 month low of $64.02 and a 12 month high of $118.07.

ONEOK (NYSE:OKE) last released its earnings results on Tuesday, October 28th. The utilities provider reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.48 by $0.01. The firm had revenue of $8.63 billion for the quarter, compared to the consensus estimate of $8.23 billion. ONEOK had a net margin of 10.58% and a return on equity of 15.12%. During the same period in the prior year, the firm earned $1.18 EPS. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. On average, equities analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

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 dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 5.8%. The ex-dividend date was Monday, November 3rd. ONEOK’s dividend payout ratio (DPR) is presently 75.74%.

Insider Activity at ONEOK

In related news, Director Brian L. Derksen purchased 2,500 shares of the business’s stock in a transaction that occurred on 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 purchase, 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 position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.21% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

OKE has been the topic of a number of analyst reports. TD Cowen decreased their price objective on shares of ONEOK from $78.00 to $76.00 and set a “hold” rating on the stock in a research report on Thursday, October 30th. The Goldman Sachs Group restated a “neutral” rating and set a $72.00 price target on shares of ONEOK in a report on Monday, November 3rd. Scotiabank lowered their price target on ONEOK from $88.00 to $87.00 and set a “sector outperform” rating for the company in a research report on Tuesday, November 4th. Barclays cut their price objective on ONEOK from $83.00 to $78.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 9th. Finally, Stifel Nicolaus set a $94.00 target price on ONEOK in a report on Thursday, October 30th. One equities research 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’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $89.27.

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.