WealthBridge Capital Management LLC Boosts Stake in ONEOK, Inc. $OKE

WealthBridge Capital Management LLC increased its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 12.7% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 10,616 shares of the utilities provider’s stock after acquiring an additional 1,197 shares during the period. WealthBridge Capital Management LLC’s holdings in ONEOK were worth $867,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Access Investment Management LLC acquired a new stake in ONEOK in the second quarter valued at approximately $33,000. Financial Network Wealth Advisors LLC lifted its position 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 valued at $38,000 after buying an additional 370 shares in the last quarter. Trust Co. of Toledo NA OH acquired a new stake in ONEOK in the 2nd quarter valued at $42,000. MTM Investment Management LLC purchased a new stake in ONEOK in the 2nd quarter worth $44,000. Finally, Cheviot Value Management LLC acquired a new position in ONEOK during the first quarter worth $46,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Trading Up 1.1%

Shares of ONEOK stock opened at $70.52 on Friday. The stock has a market cap of $44.37 billion, a P/E ratio of 12.96, a P/E/G ratio of 2.62 and a beta of 1.05. The stock’s 50 day simple moving average is $70.09 and its 200-day simple moving average is $76.22. ONEOK, Inc. has a 1-year low of $64.02 and a 1-year high of $118.07. 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 posted its quarterly earnings results on Tuesday, October 28th. The utilities provider reported $1.49 EPS for the quarter, beating the consensus estimate of $1.48 by $0.01. ONEOK had a return on equity of 15.12% and a net margin of 10.58%.The firm had revenue of $8.63 billion during the quarter, compared to analysts’ expectations of $8.23 billion. During the same quarter last year, the firm earned $1.18 earnings per share. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. Analysts predict that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Monday, November 3rd were issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 5.8%. The ex-dividend date was Monday, November 3rd. ONEOK’s payout ratio is currently 75.74%.

Analysts Set New Price Targets

OKE has been the topic of several research analyst reports. Wells Fargo & Company dropped their target price 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 reiterated an “outperform” rating and issued a $82.00 price objective (down from $100.00) on shares of ONEOK in a report on Friday, October 24th. Royal Bank Of Canada reduced their target price on ONEOK from $94.00 to $88.00 and set a “sector perform” rating for the company in a report on Wednesday, August 13th. The Goldman Sachs Group restated a “neutral” rating and issued a $72.00 target price on shares of ONEOK in a research report on Monday, November 3rd. Finally, Argus upgraded ONEOK from a “hold” rating to a “buy” rating and set a $79.00 price target for the company in a research report 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 given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $89.27.

Insider Buying and Selling at ONEOK

In other 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 purchased at an average price of $66.00 per share, with a total value 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. This trade represents a 13.37% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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.