Modera Wealth Management LLC Buys 1,729 Shares of ONEOK, Inc. $OKE

Modera Wealth Management LLC boosted its stake in ONEOK, Inc. (NYSE:OKE) by 46.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,444 shares of the utilities provider’s stock after purchasing an additional 1,729 shares during the quarter. Modera Wealth Management LLC’s holdings in ONEOK were worth $444,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in shares of ONEOK by 7.2% in 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 buying an additional 5,076,705 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in ONEOK by 13.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 20,957,230 shares of the utilities provider’s stock worth $2,079,376,000 after acquiring an additional 2,542,449 shares in the last quarter. Invesco Ltd. grew its stake in ONEOK by 25.1% in the first quarter. Invesco Ltd. now owns 8,339,939 shares of the utilities provider’s stock valued at $827,489,000 after acquiring an additional 1,674,706 shares during the period. Tortoise Capital Advisors L.L.C. grew its stake in ONEOK by 17.1% in the first quarter. Tortoise Capital Advisors L.L.C. now owns 7,171,795 shares of the utilities provider’s stock valued at $711,586,000 after acquiring an additional 1,047,810 shares during the period. Finally, Northern Trust Corp increased its holdings in shares of ONEOK by 5.3% during the first quarter. Northern Trust Corp now owns 6,879,863 shares of the utilities provider’s stock valued at $682,620,000 after acquiring an additional 344,002 shares in the last quarter. 69.13% of the stock is owned by institutional investors.

Insider Buying and Selling

In other ONEOK news, Director Brian L. Derksen purchased 2,500 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The shares were acquired at an average cost of $66.00 per share, for a total transaction of $165,000.00. Following the completion of the acquisition, the director owned 21,200 shares of the company’s stock, valued at $1,399,200. The trade was a 13.37% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on OKE shares. Royal Bank Of Canada cut their target price on ONEOK from $94.00 to $88.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 13th. Citigroup lowered their price objective 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. Raymond James Financial reiterated an “outperform” rating and set a $82.00 price objective (down from $100.00) on shares of ONEOK in a report on Friday, October 24th. Morgan Stanley decreased 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. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $72.00 price target on shares of ONEOK in a research report on Monday, November 3rd. One equities research 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 stock. According to MarketBeat.com, ONEOK currently has an average rating of “Moderate Buy” and an average target price of $91.94.

ONEOK Stock Up 0.5%

OKE opened at $68.15 on Monday. ONEOK, Inc. has a fifty-two week low of $64.02 and a fifty-two week high of $118.07. The firm has a market capitalization of $42.88 billion, a P/E ratio of 12.53, a PEG ratio of 2.62 and a beta of 1.05. The company’s 50-day moving average is $70.92 and its 200 day moving average is $77.15. The company has a debt-to-equity ratio of 1.44, a current ratio of 0.90 and a quick ratio of 0.46.

ONEOK (NYSE:OKE) last issued its quarterly earnings data 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. ONEOK had a net margin of 10.58% and a return on equity of 15.12%. The business had revenue of $9.17 billion during the quarter, compared to the consensus estimate of $8.23 billion. During the same period in the prior year, the firm posted $1.18 EPS. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. Research analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

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 dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 6.0%. The ex-dividend date of this dividend is Monday, November 3rd. ONEOK’s dividend payout ratio (DPR) is presently 75.74%.

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.