ONEOK, Inc. $OKE Shares Sold by Nations Financial Group Inc. IA ADV

Nations Financial Group Inc. IA ADV reduced its position in shares of ONEOK, Inc. (NYSE:OKE) by 55.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,701 shares of the utilities provider’s stock after selling 35,861 shares during the period. Nations Financial Group Inc. IA ADV’s holdings in ONEOK were worth $2,094,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. City Holding Co. purchased a new position in shares of ONEOK during the third quarter valued at approximately $28,000. Global Wealth Strategies & Associates acquired a new position in ONEOK in the 3rd quarter valued at $29,000. Financial Consulate Inc. purchased a new position in shares of ONEOK during the 3rd quarter worth $29,000. Access Investment Management LLC acquired a new stake in shares of ONEOK during the second quarter worth $33,000. Finally, Twin Peaks Wealth Advisors LLC acquired a new stake in shares of ONEOK during the second quarter worth $34,000. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on OKE. UBS Group reiterated a “buy” rating on shares of ONEOK in a research note on Wednesday, January 7th. Barclays dropped their price objective on shares of ONEOK from $78.00 to $76.00 and set an “equal weight” rating for the company in a research note on Thursday. Scotiabank reissued an “outperform” rating and issued a $91.00 target price on shares of ONEOK in a research report on Friday. Wells Fargo & Company lowered their target price on shares of ONEOK from $90.00 to $82.00 and set an “equal weight” rating for the company in a report on Thursday, October 30th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of ONEOK in a research note on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, ONEOK has a consensus rating of “Moderate Buy” and an average price target of $88.14.

Insider Buying and Selling at ONEOK

In related news, Director Brian L. Derksen bought 2,500 shares of the stock in a transaction dated Monday, November 3rd. The stock was acquired at an average price of $66.00 per share, for a total transaction of $165,000.00. Following the completion of the purchase, the director owned 21,200 shares in the company, valued at $1,399,200. This 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 can be accessed through this hyperlink. 0.21% of the stock is owned by insiders.

ONEOK Trading Up 1.5%

NYSE OKE opened at $74.46 on Friday. The firm has a market capitalization of $46.85 billion, a price-to-earnings ratio of 13.69, a PEG ratio of 4.15 and a beta of 0.94. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.75 and a current ratio of 0.90. ONEOK, Inc. has a one year low of $64.02 and a one year high of $111.02. The company’s 50 day moving average price is $72.41 and its 200 day moving average price is $73.68.

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, topping 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 company had revenue of $8.63 billion during the quarter, compared to the consensus estimate of $8.23 billion. During the same period in the previous year, the firm 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 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.