ONEOK (NYSE:OKE) Director Brian Derksen Purchases 2,500 Shares

ONEOK, Inc. (NYSE:OKE) Director Brian Derksen bought 2,500 shares of ONEOK stock in a transaction dated Monday, November 3rd. The shares were acquired at an average price 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 in the company, valued at $1,399,200. This trade represents a 13.37% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

ONEOK Stock Performance

Shares of NYSE OKE traded up $1.97 during midday trading on Wednesday, hitting $66.28. 5,946,403 shares of the company’s stock were exchanged, compared to its average volume of 3,910,615. The company’s 50 day moving average price is $71.42 and its 200 day moving average price is $77.50. 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 $41.71 billion, a PE ratio of 12.18, a price-to-earnings-growth ratio of 2.62 and a beta of 1.01. ONEOK, Inc. has a 12 month low of $64.02 and a 12 month high of $118.07.

ONEOK (NYSE:OKE) last posted its earnings results on Tuesday, October 28th. The utilities provider reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.48 by $0.01. The company had revenue of $9.17 billion during the quarter, compared to analysts’ expectations 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 company posted $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 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Monday, November 3rd will be paid a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 6.2%. The ex-dividend date is Monday, November 3rd. ONEOK’s dividend payout ratio (DPR) is currently 75.74%.

Institutional Trading of ONEOK

A number of hedge funds have recently made changes to their positions in OKE. Norges Bank bought a new stake in ONEOK during the 2nd quarter worth approximately $562,832,000. Vanguard Group Inc. grew its holdings in ONEOK by 7.2% during the 1st quarter. Vanguard Group Inc. now owns 75,196,969 shares of the utilities provider’s stock worth $7,461,043,000 after acquiring an additional 5,076,705 shares during the last quarter. Nuveen LLC bought a new stake in ONEOK during the 1st quarter worth approximately $440,535,000. Boston Partners bought a new stake in ONEOK during the 1st quarter worth approximately $353,596,000. Finally, First Eagle Investment Management LLC grew its holdings in ONEOK by 130.8% during the 2nd quarter. First Eagle Investment Management LLC now owns 6,256,173 shares of the utilities provider’s stock worth $510,691,000 after acquiring an additional 3,545,256 shares during the last quarter. 69.13% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently issued reports on OKE shares. Royal Bank Of Canada cut their target price on shares of ONEOK from $94.00 to $88.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 13th. Morgan Stanley dropped their target price on shares of ONEOK from $122.00 to $110.00 and set an “overweight” rating for the company in a research report on Tuesday, August 26th. TD Cowen dropped their target price on shares of ONEOK from $78.00 to $76.00 and set a “hold” rating for the company in a research report on Thursday, October 30th. Wells Fargo & Company dropped their target price on shares of ONEOK from $90.00 to $82.00 and set an “equal weight” rating for the company in a research report on Thursday, October 30th. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $72.00 target price on shares of ONEOK in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $92.80.

About ONEOK

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.