Hudson Edge Investment Partners Inc. Boosts Stock Position in ONEOK, Inc. $OKE

Hudson Edge Investment Partners Inc. increased its stake in shares of ONEOK, Inc. (NYSE:OKE) by 34.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 87,667 shares of the utilities provider’s stock after purchasing an additional 22,282 shares during the quarter. Hudson Edge Investment Partners Inc.’s holdings in ONEOK were worth $6,397,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Bogart Wealth LLC boosted its holdings in shares of ONEOK by 3.1% in the second quarter. Bogart Wealth LLC now owns 4,031 shares of the utilities provider’s stock valued at $329,000 after purchasing an additional 122 shares during the period. Empowered Funds LLC grew its position in shares of ONEOK by 0.8% during the 1st quarter. Empowered Funds LLC now owns 17,957 shares of the utilities provider’s stock worth $1,782,000 after buying an additional 137 shares in the last quarter. MJT & Associates Financial Advisory Group Inc. increased its stake in shares of ONEOK by 5.8% during the second quarter. MJT & Associates Financial Advisory Group Inc. now owns 2,540 shares of the utilities provider’s stock valued at $207,000 after buying an additional 140 shares during the period. Focused Wealth Management Inc raised its holdings in shares of ONEOK by 4.3% in the third quarter. Focused Wealth Management Inc now owns 3,441 shares of the utilities provider’s stock valued at $251,000 after acquiring an additional 142 shares in the last quarter. Finally, Fidelis Capital Partners LLC lifted its stake in ONEOK by 4.2% in the second quarter. Fidelis Capital Partners LLC now owns 3,589 shares of the utilities provider’s stock worth $270,000 after acquiring an additional 144 shares during the period. Institutional investors own 69.13% of the company’s stock.

ONEOK Stock Up 2.4%

Shares of OKE opened at $75.83 on Thursday. The company has a market capitalization of $47.72 billion, a price-to-earnings ratio of 13.94, a PEG ratio of 4.16 and a beta of 0.94. ONEOK, Inc. has a 52 week low of $64.02 and a 52 week high of $110.62. The stock’s 50-day moving average price is $72.79 and its 200-day moving average price is $73.53. The company has a quick ratio of 0.75, a current ratio of 0.90 and a debt-to-equity ratio of 1.44.

ONEOK (NYSE:OKE) last released its quarterly 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 company had revenue of $8.63 billion for the quarter, compared to analyst estimates of $8.23 billion. ONEOK had a net margin of 10.58% and a return on equity of 15.12%. During the same quarter last year, the business earned $1.18 earnings per share. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. On average, sell-side analysts predict that ONEOK, Inc. will post 5.07 EPS for the current 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 given a dividend of $1.07 per share. This is a boost from ONEOK’s previous quarterly dividend of $1.03. This represents a $4.28 dividend on an annualized basis and a yield of 5.6%. The ex-dividend date is Monday, February 2nd. ONEOK’s dividend payout ratio (DPR) is currently 75.74%.

Insider Transactions at ONEOK

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

Analyst Ratings Changes

A number of equities analysts recently commented on OKE shares. Wells Fargo & Company reduced their price objective on shares of ONEOK from $90.00 to $82.00 and set an “equal weight” rating for the company in a research note on Thursday, October 30th. Scotiabank reiterated an “outperform” rating and issued a $91.00 target price on shares of ONEOK in a research note on Friday, January 16th. Argus raised shares of ONEOK from a “hold” rating to a “buy” rating and set a $79.00 price target for the company in a research report on Thursday, November 6th. TD Cowen lowered their target price on shares of ONEOK from $78.00 to $76.00 and set a “hold” rating for the company in a research note on Thursday, October 30th. Finally, Citigroup reduced their price target on ONEOK from $102.00 to $95.00 and set a “buy” rating on the stock in a research report on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, ONEOK presently has an average rating of “Moderate Buy” and a consensus price target of $87.60.

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.