Y Intercept Hong Kong Ltd Grows Stake in ONEOK, Inc. $OKE

Y Intercept Hong Kong Ltd lifted its stake in shares of ONEOK, Inc. (NYSE:OKE) by 139.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 93,608 shares of the utilities provider’s stock after purchasing an additional 54,444 shares during the period. Y Intercept Hong Kong Ltd’s holdings in ONEOK were worth $6,831,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the company. Assetmark Inc. boosted its position in ONEOK by 84.0% during the second quarter. Assetmark Inc. now owns 4,047 shares of the utilities provider’s stock worth $330,000 after purchasing an additional 1,848 shares during the period. Morningstar Investment Management LLC lifted its position in shares of ONEOK by 18.2% during the second quarter. Morningstar Investment Management LLC now owns 27,375 shares of the utilities provider’s stock worth $2,235,000 after acquiring an additional 4,206 shares in the last quarter. Hudson Edge Investment Partners Inc. raised its stake in shares of ONEOK by 34.1% during the 3rd quarter. Hudson Edge Investment Partners Inc. now owns 87,667 shares of the utilities provider’s stock valued at $6,397,000 after purchasing an additional 22,282 shares during the period. Meixler Investment Management Ltd. boosted its stake in ONEOK by 134.0% in the 2nd quarter. Meixler Investment Management Ltd. now owns 30,937 shares of the utilities provider’s stock worth $2,525,000 after purchasing an additional 17,714 shares during the period. Finally, Jackson Hole Capital Partners LLC increased its stake in ONEOK by 24.6% in the 2nd quarter. Jackson Hole Capital Partners LLC now owns 81,923 shares of the utilities provider’s stock worth $6,687,000 after acquiring an additional 16,151 shares during the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Stock Performance

NYSE:OKE opened at $78.02 on Friday. The stock has a 50-day moving average price of $73.12 and a 200 day moving average price of $73.49. The stock has a market capitalization of $49.09 billion, a P/E ratio of 14.34, a P/E/G ratio of 4.42 and a beta of 0.94. ONEOK, Inc. has a 12-month low of $64.02 and a 12-month high of $105.86. The company has a current ratio of 0.90, a quick ratio of 0.75 and a debt-to-equity ratio of 1.44.

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 the consensus estimate of $1.48 by $0.01. ONEOK had a net margin of 10.58% and a return on equity of 15.12%. The firm had revenue of $8.63 billion for the quarter, compared to analysts’ expectations of $8.23 billion. During the same quarter last year, the business posted $1.18 earnings per share. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. Equities research analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Shareholders of record on Monday, February 2nd will be issued a dividend of $1.07 per share. This is a boost from ONEOK’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend is Monday, February 2nd. This represents a $4.28 annualized dividend and a dividend yield of 5.5%. ONEOK’s payout ratio is currently 78.68%.

Insider Buying and Selling at ONEOK

In other news, Director Brian L. Derksen bought 2,500 shares of ONEOK stock in a transaction dated Monday, November 3rd. The shares were purchased at an average cost of $66.00 per share, with a total value of $165,000.00. Following the completion of 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.21% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages have issued reports on OKE. 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 note on Friday, October 24th. Citigroup lowered their price target on ONEOK from $102.00 to $95.00 and set a “buy” rating for the company in a research report on Friday, October 31st. UBS Group dropped their price target on ONEOK from $114.00 to $103.00 and set a “buy” rating on the stock in a research report on Thursday. TD Cowen reduced their price target on ONEOK from $78.00 to $76.00 and set a “hold” rating for the company in a report on Thursday, October 30th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of ONEOK in a research note on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $88.56.

ONEOK Company Profile

ONEOK, Inc (NYSE: OKE) is a publicly traded midstream energy company headquartered in Tulsa, Oklahoma. The company owns and operates a portfolio of natural gas and natural gas liquids (NGL) pipelines, processing facilities, fractionators and storage and terminal assets. Its operations are focused on gathering, processing, transporting, fractionating and marketing NGLs and interstate natural gas, providing critical infrastructure that connects hydrocarbon production to refineries, petrochemical plants and other end markets.

ONEOK’s asset base includes pipeline systems and processing plants that move and condition natural gas, along with infrastructure for the transportation, storage and fractionation of NGLs such as ethane, propane and butane.