Northside Capital Management LLC Acquires 9,038 Shares of ONEOK, Inc. $OKE

Northside Capital Management LLC lifted its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 140.4% in the third quarter, HoldingsChannel.com reports. The fund owned 15,477 shares of the utilities provider’s stock after acquiring an additional 9,038 shares during the period. Northside Capital Management LLC’s holdings in ONEOK were worth $1,129,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of OKE. Global Wealth Strategies & Associates bought a new position in ONEOK in the 3rd quarter valued at $29,000. Access Investment Management LLC purchased a new position in shares of ONEOK in the 2nd quarter worth about $33,000. Twin Peaks Wealth Advisors LLC bought a new position in ONEOK during the second quarter valued at about $34,000. Trust Co. of Toledo NA OH purchased a new stake in ONEOK during the second quarter worth about $42,000. Finally, MTM Investment Management LLC bought a new stake in ONEOK in the second quarter worth about $44,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Trading Down 2.4%

NYSE:OKE opened at $71.10 on Wednesday. ONEOK, Inc. has a 1 year low of $64.02 and a 1 year high of $111.02. The stock’s fifty day moving average price is $70.25 and its two-hundred day moving average price is $75.00. The company has a debt-to-equity ratio of 1.44, a current ratio of 0.90 and a quick ratio of 0.75. The company has a market cap of $44.74 billion, a P/E ratio of 13.07, a P/E/G ratio of 4.46 and a beta of 0.95.

ONEOK (NYSE:OKE) last released its quarterly earnings data on Tuesday, October 28th. The utilities provider reported $1.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.48 by $0.01. ONEOK had a return on equity of 15.12% and a net margin of 10.58%.The company had revenue of $8.63 billion for the quarter, compared to analyst estimates of $8.23 billion. During the same period in the previous year, the company posted $1.18 EPS. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. As a group, analysts expect that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Dividend Announcement

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

Insider Activity at ONEOK

In other news, Director Brian L. Derksen acquired 2,500 shares of ONEOK stock in a transaction that occurred on Monday, November 3rd. The stock was bought at an average price of $66.00 per share, with a total value of $165,000.00. Following the completion of the purchase, the director owned 21,200 shares in the company, valued at approximately $1,399,200. The trade was a 13.37% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Morgan Stanley decreased their price target 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. Argus raised 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. Raymond James Financial reaffirmed an “outperform” rating and set a $82.00 price target (down previously from $100.00) on shares of ONEOK in a research report on Friday, October 24th. Citigroup cut their price target on ONEOK from $102.00 to $95.00 and set a “buy” rating for the company in a research note on Friday, October 31st. Finally, Barclays decreased their price objective on ONEOK from $83.00 to $78.00 and set an “equal weight” rating for the company in a report on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price 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.