iSAM Funds UK Ltd Takes Position in ONEOK, Inc. $OKE

iSAM Funds UK Ltd bought a new stake in ONEOK, Inc. (NYSE:OKE) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 17,695 shares of the utilities provider’s stock, valued at approximately $1,444,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of ONEOK during the 2nd quarter valued at about $562,832,000. Boston Partners purchased a new stake in ONEOK in the first quarter valued at approximately $353,596,000. First Eagle Investment Management LLC increased its position in 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 last quarter. Wellington Management Group LLP raised its stake in ONEOK by 51.9% during the first quarter. Wellington Management Group LLP now owns 6,388,987 shares of the utilities provider’s stock worth $633,915,000 after purchasing an additional 2,182,081 shares during the period. Finally, GQG Partners LLC boosted its holdings in shares of ONEOK by 148.2% in the 1st quarter. GQG Partners LLC now owns 3,065,067 shares of the utilities provider’s stock valued at $304,116,000 after purchasing an additional 1,830,055 shares during the last quarter. 69.13% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at ONEOK

In other news, Director Brian L. Derksen purchased 2,500 shares of the stock in a transaction that occurred on Monday, November 3rd. The stock was acquired at an average cost of $66.00 per share, with a total value of $165,000.00. Following the acquisition, 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 acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.20% of the company’s stock.

ONEOK Price Performance

Shares of NYSE OKE opened at $74.95 on Wednesday. The company has a debt-to-equity ratio of 1.44, a current ratio of 0.90 and a quick ratio of 0.75. ONEOK, Inc. has a 1-year low of $64.02 and a 1-year high of $111.02. The company has a market capitalization of $47.16 billion, a price-to-earnings ratio of 13.78, a PEG ratio of 4.59 and a beta of 0.95. The business has a 50-day moving average of $70.22 and a 200-day moving average of $75.28.

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

ONEOK Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Monday, November 3rd were given a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date of this dividend was Monday, November 3rd. ONEOK’s payout ratio is presently 75.74%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on OKE shares. TD Cowen dropped their price objective on ONEOK from $78.00 to $76.00 and set a “hold” rating for the company in a report on Thursday, October 30th. Stifel Nicolaus set a $94.00 price target on ONEOK in a research report on Thursday, October 30th. Mizuho cut their price objective on ONEOK from $87.00 to $82.00 and set a “neutral” rating on the stock in a report on Friday, August 29th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $72.00 price objective on shares of ONEOK in a research note on Monday, November 3rd. Finally, 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 research report on Thursday, November 6th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, ONEOK presently has a consensus rating of “Moderate Buy” and an average price target of $88.00.

ONEOK 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.