Jefferies Financial Group Inc. Acquires Shares of 13,723 ONEOK, Inc. $OKE

Jefferies Financial Group Inc. bought a new position in ONEOK, Inc. (NYSE:OKE) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 13,723 shares of the utilities provider’s stock, valued at approximately $1,120,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Access Investment Management LLC bought a new stake in ONEOK in the 2nd quarter worth approximately $33,000. Financial Network Wealth Advisors LLC lifted its position in ONEOK by 2,466.7% in 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. Trust Co. of Toledo NA OH purchased a new position in shares of ONEOK during the 2nd quarter worth about $42,000. MTM Investment Management LLC bought a new position in ONEOK during the 2nd quarter valued at about $44,000. Finally, Cheviot Value Management LLC purchased a new stake in ONEOK in the 1st quarter worth about $46,000. 69.13% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on OKE. Morgan Stanley cut their target price on ONEOK from $122.00 to $110.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 26th. Citigroup dropped their price objective on ONEOK from $102.00 to $95.00 and set a “buy” rating for the company in a report on Friday, October 31st. Raymond James Financial reiterated an “outperform” rating and issued a $82.00 target price (down previously from $100.00) on shares of ONEOK in a research note on Friday, October 24th. Royal Bank Of Canada lowered their target price on shares of ONEOK from $94.00 to $88.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 13th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $72.00 price target on shares of ONEOK in a research note on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $89.27.

ONEOK Stock Performance

OKE stock opened at $71.56 on Thursday. 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 business has a 50-day moving average price of $69.99 and a 200 day moving average price of $75.97. The company has a market capitalization of $45.03 billion, a P/E ratio of 13.15, a PEG ratio of 2.62 and a beta of 1.05. ONEOK, Inc. has a 1-year low of $64.02 and a 1-year high of $114.27.

ONEOK (NYSE:OKE) last released its quarterly earnings data on Tuesday, October 28th. The utilities provider reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.48 by $0.01. The company had revenue of $8.63 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 in the prior year, the firm earned $1.18 earnings per share. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. As a group, equities research analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Monday, November 3rd were issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 5.8%. The ex-dividend date of this dividend was Monday, November 3rd. ONEOK’s dividend payout ratio (DPR) is presently 75.74%.

Insider Buying and Selling

In related news, Director Brian L. Derksen bought 2,500 shares of the stock in a transaction on Monday, November 3rd. The stock was bought at an average price of $66.00 per share, for a total transaction of $165,000.00. Following the completion of the acquisition, the director directly owned 21,200 shares in the company, valued at approximately $1,399,200. This represents a 13.37% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.21% of the stock is owned by company insiders.

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.