First Eagle Investment Management LLC Raises Stock Holdings in ONEOK, Inc. $OKE

First Eagle Investment Management LLC increased its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 130.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,256,173 shares of the utilities provider’s stock after acquiring an additional 3,545,256 shares during the quarter. First Eagle Investment Management LLC’s holdings in ONEOK were worth $510,691,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Access Investment Management LLC bought a new stake in shares of ONEOK during the 2nd quarter worth $33,000. Financial Network Wealth Advisors LLC increased its holdings in ONEOK by 2,466.7% during the first 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 last quarter. Financial Gravity Asset Management Inc. bought a new stake in ONEOK in the first quarter worth about $40,000. Trust Co. of Toledo NA OH purchased a new position in ONEOK in the second quarter valued at about $42,000. Finally, Cheviot Value Management LLC bought a new position in shares of ONEOK during the 1st quarter valued at approximately $46,000. Institutional investors own 69.13% of the company’s stock.

Analyst Ratings Changes

OKE has been the topic of a number of research reports. Raymond James Financial reaffirmed an “outperform” rating and issued a $82.00 price target (down previously from $100.00) on shares of ONEOK in a report on Friday, October 24th. Mizuho lowered their target price on ONEOK from $87.00 to $82.00 and set a “neutral” rating on the stock in a research note on Friday, August 29th. Citigroup cut their price target on ONEOK from $102.00 to $95.00 and set a “buy” rating for the company in a research note on Friday, October 31st. Wells Fargo & Company lowered their price objective on ONEOK from $90.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 30th. Finally, Scotiabank dropped their price objective on shares of ONEOK from $88.00 to $87.00 and set a “sector outperform” rating on the stock in a report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $91.94.

ONEOK Stock Up 2.3%

OKE stock opened at $67.82 on Friday. The stock has a 50-day simple moving average of $71.08 and a two-hundred day simple moving average of $77.35. ONEOK, Inc. has a twelve month low of $64.02 and a twelve month high of $118.07. The firm has a market capitalization of $42.67 billion, a PE ratio of 12.47, a PEG ratio of 2.62 and a beta of 1.05. The company has a quick ratio of 0.46, a current ratio of 0.90 and a debt-to-equity ratio of 1.44.

ONEOK (NYSE:OKE) last released its quarterly earnings data on Tuesday, October 28th. The utilities provider reported $1.49 EPS for the quarter, beating analysts’ consensus estimates of $1.48 by $0.01. The company had revenue of $9.17 billion during the quarter, compared to analyst estimates of $8.23 billion. ONEOK had a net margin of 10.58% and a return on equity of 15.12%. During the same period last year, the business earned $1.18 earnings per share. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. On average, equities analysts predict that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Monday, November 3rd will be issued a $1.03 dividend. The ex-dividend date of this dividend is Monday, November 3rd. This represents a $4.12 annualized dividend and a dividend yield of 6.1%. ONEOK’s dividend payout ratio is presently 75.74%.

Insider Activity

In other ONEOK news, Director Brian L. Derksen acquired 2,500 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The stock was bought 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 owned 21,200 shares of the company’s stock, valued at approximately $1,399,200. This represents a 13.37% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.21% of the company’s stock.

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.