WBI Investments LLC Buys 5,669 Shares of ONEOK, Inc. $OKE

WBI Investments LLC increased its stake in shares of ONEOK, Inc. (NYSE:OKE) by 103.9% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 11,125 shares of the utilities provider’s stock after acquiring an additional 5,669 shares during the period. WBI Investments LLC’s holdings in ONEOK were worth $908,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Access Investment Management LLC acquired a new position in ONEOK during the second quarter valued at approximately $33,000. Financial Network Wealth Advisors LLC boosted its holdings in shares of ONEOK by 2,466.7% during the 1st quarter. Financial Network Wealth Advisors LLC now owns 385 shares of the utilities provider’s stock worth $38,000 after buying an additional 370 shares during the period. Trust Co. of Toledo NA OH acquired a new position in ONEOK in the 2nd quarter valued at $42,000. MTM Investment Management LLC bought a new position in ONEOK in the 2nd quarter worth $44,000. Finally, Cheviot Value Management LLC acquired a new position in ONEOK during the 1st quarter worth $46,000. 69.13% of the stock is owned by institutional investors.

ONEOK Stock Up 0.9%

OKE opened at $69.47 on Wednesday. The company has a market capitalization of $43.72 billion, a P/E 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 firm’s fifty day moving average price is $70.30 and its two-hundred day moving average price is $76.38. ONEOK, Inc. has a fifty-two week low of $64.02 and a fifty-two week high of $118.07.

ONEOK (NYSE:OKE) last released its quarterly earnings data on Tuesday, October 28th. The utilities provider reported $1.49 EPS 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 company had revenue of $8.63 billion during the quarter, compared to the consensus estimate of $8.23 billion. During the same period last year, the firm earned $1.18 EPS. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. On average, analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Monday, November 3rd were paid 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 dividend payout ratio (DPR) is currently 75.74%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Citigroup lowered 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. Morgan Stanley decreased 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. Scotiabank dropped their price target on ONEOK from $88.00 to $87.00 and set a “sector outperform” rating on the stock in a research report on Tuesday, November 4th. TD Cowen reduced their price objective on ONEOK from $78.00 to $76.00 and set a “hold” rating for the company in a research report on Thursday, October 30th. Finally, Wells Fargo & Company lowered their price objective on shares of ONEOK from $90.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $89.27.

Insiders Place Their Bets

In related news, Director Brian L. Derksen acquired 2,500 shares of the stock in a transaction dated Monday, November 3rd. The shares were bought at an average cost of $66.00 per share, for a total transaction of $165,000.00. Following the purchase, the director owned 21,200 shares in the company, valued at approximately $1,399,200. This trade represents a 13.37% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.20% of the company’s stock.

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.