ONEOK, Inc. $OKE Shares Acquired by Magnetar Financial LLC

Magnetar Financial LLC lifted its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 297.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,573 shares of the utilities provider’s stock after purchasing an additional 20,627 shares during the period. Magnetar Financial LLC’s holdings in ONEOK were worth $2,251,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Assetmark Inc. boosted its stake in shares of ONEOK by 84.0% during the 2nd 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 last quarter. Morningstar Investment Management LLC raised its position in shares of ONEOK by 18.2% in the second quarter. Morningstar Investment Management LLC now owns 27,375 shares of the utilities provider’s stock valued at $2,235,000 after buying an additional 4,206 shares during the last quarter. Meixler Investment Management Ltd. lifted its stake in shares of ONEOK by 134.0% during the second quarter. Meixler Investment Management Ltd. now owns 30,937 shares of the utilities provider’s stock valued at $2,525,000 after buying an additional 17,714 shares during the period. Dark Forest Capital Management LP boosted its position in ONEOK by 409.5% during the first quarter. Dark Forest Capital Management LP now owns 40,372 shares of the utilities provider’s stock worth $4,006,000 after acquiring an additional 32,448 shares during the last quarter. Finally, Jackson Hole Capital Partners LLC boosted its position in ONEOK by 24.6% during the second 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. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

OKE has been the topic of a number of recent analyst reports. Mizuho reduced their price target on ONEOK from $87.00 to $82.00 and set a “neutral” rating on the stock in a research note on Friday, August 29th. Weiss Ratings reiterated a “hold (c)” rating on shares of ONEOK in a research report on Wednesday. Royal Bank Of Canada decreased their price target on ONEOK from $94.00 to $88.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 13th. Citigroup dropped their price objective on shares of ONEOK from $102.00 to $95.00 and set a “buy” rating for the company in a research note on Friday, October 31st. Finally, Scotiabank decreased their target price on shares of ONEOK from $88.00 to $87.00 and set a “sector outperform” rating on the stock in a research report on Tuesday, November 4th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $89.27.

Insider Activity at ONEOK

In related news, Director Brian L. Derksen bought 2,500 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The shares were acquired at an average cost of $66.00 per share, for a total transaction of $165,000.00. Following the acquisition, the director owned 21,200 shares in the company, valued at $1,399,200. This represents a 13.37% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.21% of the company’s stock.

ONEOK Price Performance

ONEOK stock opened at $70.52 on Friday. The firm has a fifty day moving average of $70.09 and a 200-day moving average of $76.19. ONEOK, Inc. has a 52-week low of $64.02 and a 52-week high of $118.07. The company has a quick ratio of 0.46, a current ratio of 0.90 and a debt-to-equity ratio of 1.44. The firm has a market capitalization of $44.37 billion, a P/E ratio of 12.96, a PEG ratio of 2.62 and a beta of 1.05.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Tuesday, October 28th. The utilities provider reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $8.23 billion. During the same period in the prior year, the company earned $1.18 EPS. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. As a group, analysts predict that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Announces Dividend

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

ONEOK Company 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.