3,495 Shares in ONEOK, Inc. $OKE Purchased by Weil Company Inc.

Weil Company Inc. acquired a new stake in shares of ONEOK, Inc. (NYSE:OKE) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 3,495 shares of the utilities provider’s stock, valued at approximately $285,000.

Several other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in ONEOK by 7.2% during the 1st quarter. Vanguard Group Inc. now owns 75,196,969 shares of the utilities provider’s stock valued at $7,461,043,000 after purchasing an additional 5,076,705 shares in the last quarter. Nuveen LLC bought a new stake in shares of ONEOK in the first quarter worth $440,535,000. Boston Partners purchased a new stake in shares of ONEOK during the 1st quarter valued at about $353,596,000. First Eagle Investment Management LLC grew its position in ONEOK by 130.8% during the second quarter. First Eagle Investment Management LLC now owns 6,256,173 shares of the utilities provider’s stock valued at $510,691,000 after buying an additional 3,545,256 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in ONEOK by 13.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 20,957,230 shares of the utilities provider’s stock valued at $2,079,376,000 after buying an additional 2,542,449 shares during the last quarter. 69.13% of the stock is owned by institutional investors.

ONEOK Price Performance

NYSE:OKE opened at $67.88 on Tuesday. The business’s 50-day moving average is $70.75 and its 200 day moving average is $77.02. ONEOK, Inc. has a 12 month low of $64.02 and a 12 month high of $118.07. The company has a market capitalization of $42.71 billion, a P/E ratio of 12.48, a P/E/G ratio of 2.62 and a beta of 1.05. The company has a current ratio of 0.90, a quick ratio of 0.46 and a debt-to-equity ratio of 1.44.

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

ONEOK Announces Dividend

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

Wall Street Analysts Forecast Growth

OKE has been the subject of a number of recent research reports. Stifel Nicolaus set a $94.00 price objective on shares of ONEOK in a research report on Thursday, October 30th. Morgan Stanley lowered their price objective on ONEOK from $122.00 to $110.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 26th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of ONEOK in a report on Wednesday, October 8th. Mizuho decreased their price target on ONEOK from $87.00 to $82.00 and set a “neutral” rating on the stock in a report on Friday, August 29th. Finally, Argus raised ONEOK from a “hold” rating to a “buy” rating and set a $79.00 price objective for the company in a research note on Thursday, November 6th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $91.94.

Insider Transactions at ONEOK

In other ONEOK news, Director Brian L. Derksen acquired 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, for a total transaction of $165,000.00. Following the completion of the transaction, the director directly owned 21,200 shares of the company’s stock, valued at $1,399,200. This trade represents a 13.37% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.21% of the stock is currently owned by insiders.

ONEOK Company 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.