Burk Holdings LLC Takes Position in ONEOK, Inc. $OKE

Burk Holdings LLC bought a new position in shares of ONEOK, Inc. (NYSE:OKE) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 3,662 shares of the utilities provider’s stock, valued at approximately $299,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Brighton Jones LLC lifted its holdings in ONEOK by 137.1% during the fourth quarter. Brighton Jones LLC now owns 15,278 shares of the utilities provider’s stock valued at $1,534,000 after purchasing an additional 8,834 shares in the last quarter. Mutual of America Capital Management LLC increased its stake in shares of ONEOK by 3.1% during the first quarter. Mutual of America Capital Management LLC now owns 72,140 shares of the utilities provider’s stock worth $7,158,000 after purchasing an additional 2,166 shares in the last quarter. Assetmark Inc. raised its position in shares of ONEOK by 21.8% during the 1st quarter. Assetmark Inc. now owns 2,199 shares of the utilities provider’s stock worth $218,000 after purchasing an additional 393 shares during the last quarter. HB Wealth Management LLC lifted its stake in ONEOK by 12.2% in the 1st quarter. HB Wealth Management LLC now owns 34,628 shares of the utilities provider’s stock valued at $3,436,000 after buying an additional 3,757 shares in the last quarter. Finally, TD Asset Management Inc lifted its stake in ONEOK by 6.9% in the 1st quarter. TD Asset Management Inc now owns 245,269 shares of the utilities provider’s stock valued at $24,336,000 after buying an additional 15,769 shares in the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on OKE. Morgan Stanley cut their price objective on ONEOK from $122.00 to $110.00 and set an “overweight” rating for the company in a research note on Tuesday, August 26th. 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 report on Friday, October 24th. Mizuho reduced their price objective on ONEOK from $87.00 to $82.00 and set a “neutral” rating for the company in a research note on Friday, August 29th. TD Cowen decreased their price objective on ONEOK from $78.00 to $76.00 and set a “hold” rating on the stock in a report on Thursday, October 30th. Finally, Citigroup dropped their target price on shares of ONEOK from $102.00 to $95.00 and set a “buy” rating for the company in a report on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.27.

ONEOK Price Performance

NYSE:OKE opened at $70.52 on Monday. ONEOK, Inc. has a one year low of $64.02 and a one year high of $118.07. The stock has a market cap of $44.37 billion, a PE ratio of 12.96, a P/E/G ratio of 2.62 and a beta of 1.05. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.46 and a current ratio of 0.90. The stock has a 50 day moving average price of $70.09 and a 200 day moving average price of $76.17.

ONEOK (NYSE:OKE) last issued its earnings results 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 company had revenue of $8.63 billion during the quarter, compared to analysts’ expectations of $8.23 billion. During the same period in the prior year, the business earned $1.18 EPS. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. Equities research analysts expect that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Monday, November 3rd were given 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 dividend payout ratio (DPR) is presently 75.74%.

Insider Buying and Selling

In other news, Director Brian L. Derksen bought 2,500 shares of ONEOK stock in a transaction on Monday, November 3rd. The shares were bought at an average cost of $66.00 per share, with a total value of $165,000.00. Following the completion of the purchase, the director directly owned 21,200 shares of the company’s stock, valued at approximately $1,399,200. This trade represents a 13.37% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.21% of the stock is owned by company insiders.

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.