Prudential PLC Has $24.43 Million Stake in ONEOK, Inc. $OKE

Prudential PLC lifted its stake in ONEOK, Inc. (NYSE:OKE) by 6.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 299,228 shares of the utilities provider’s stock after buying an additional 17,585 shares during the period. Prudential PLC’s holdings in ONEOK were worth $24,426,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. GDS Wealth Management bought a new stake in shares of ONEOK during the 2nd quarter valued at $232,000. Empirical Finance LLC increased its position in shares of ONEOK by 1.5% in the second quarter. Empirical Finance LLC now owns 11,549 shares of the utilities provider’s stock worth $943,000 after purchasing an additional 169 shares during the period. Highview Capital Management LLC DE raised its stake in ONEOK by 2.8% in the second quarter. Highview Capital Management LLC DE now owns 13,331 shares of the utilities provider’s stock valued at $1,088,000 after purchasing an additional 368 shares in the last quarter. Wealthspire Advisors LLC raised its stake in ONEOK by 2.2% in the second quarter. Wealthspire Advisors LLC now owns 22,224 shares of the utilities provider’s stock valued at $1,814,000 after purchasing an additional 472 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in ONEOK by 1.7% during the second quarter. Vanguard Group Inc. now owns 76,510,971 shares of the utilities provider’s stock worth $6,245,591,000 after purchasing an additional 1,314,002 shares during the period. Institutional investors own 69.13% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on OKE shares. Citigroup decreased their target price on shares of ONEOK from $102.00 to $95.00 and set a “buy” rating on the stock in a report on Friday, October 31st. Wells Fargo & Company reduced their price target on shares of ONEOK from $90.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 30th. Raymond James Financial restated an “outperform” rating and set a $82.00 price objective (down from $100.00) on shares of ONEOK in a research report on Friday, October 24th. Morgan Stanley cut their target price on ONEOK from $122.00 to $110.00 and set an “overweight” rating for the company in a research note on Tuesday, August 26th. Finally, Argus upgraded ONEOK from a “hold” rating to a “buy” rating and set a $79.00 price target on the stock in a research note on Thursday, November 6th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, ONEOK currently has an average rating of “Moderate Buy” and a consensus price target of $89.27.

ONEOK Price Performance

OKE stock opened at $69.46 on Thursday. The stock has a market cap of $43.70 billion, a price-to-earnings ratio of 12.77, a P/E/G ratio of 2.62 and a beta of 1.06. The company has a debt-to-equity ratio of 1.44, a current ratio of 0.90 and a quick ratio of 0.46. The company has a 50 day simple moving average of $70.22 and a 200 day simple moving average of $76.33. ONEOK, Inc. has a 1 year low of $64.02 and a 1 year 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 for the quarter, topping analysts’ consensus estimates of $1.48 by $0.01. The firm had revenue of $8.63 billion for 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 in the previous year, the firm posted $1.18 earnings per share. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. Research analysts anticipate 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. The ex-dividend date was Monday, November 3rd. This represents a $4.12 dividend on an annualized basis and a yield of 5.9%. ONEOK’s payout ratio is currently 75.74%.

Insider Transactions at ONEOK

In other news, Director Brian L. Derksen bought 2,500 shares of the stock in a transaction on Monday, November 3rd. The stock was acquired at an average price of $66.00 per share, with a total value of $165,000.00. Following the acquisition, the director directly owned 21,200 shares in the company, valued at approximately $1,399,200. This trade represents a 13.37% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.20% of the stock is currently owned by 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.