Nvwm LLC Buys 1,684 Shares of ONEOK, Inc. $OKE

Nvwm LLC raised its position in shares of ONEOK, Inc. (NYSE:OKE) by 11.5% during the second quarter, HoldingsChannel reports. The firm owned 16,332 shares of the utilities provider’s stock after purchasing an additional 1,684 shares during the period. Nvwm LLC’s holdings in ONEOK were worth $1,333,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of OKE. Access Investment Management LLC purchased a new stake in ONEOK in the second quarter worth approximately $33,000. Financial Network Wealth Advisors LLC lifted its holdings in shares of ONEOK by 2,466.7% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 385 shares of the utilities provider’s stock worth $38,000 after acquiring an additional 370 shares during the last quarter. Financial Gravity Asset Management Inc. purchased a new stake in shares of ONEOK in the 1st quarter valued at $40,000. Trust Co. of Toledo NA OH bought a new position in shares of ONEOK during the 2nd quarter valued at $42,000. Finally, Cheviot Value Management LLC purchased a new position in ONEOK in the 1st quarter worth $46,000. 69.13% of the stock is currently owned by institutional investors.

Insider Transactions at ONEOK

In other ONEOK news, Director Brian L. Derksen purchased 2,500 shares of the stock in a transaction that occurred on Monday, November 3rd. The stock was bought at an average cost of $66.00 per share, with a total value of $165,000.00. Following the transaction, the director directly owned 21,200 shares in the company, valued at approximately $1,399,200. The trade was a 13.37% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.21% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have issued reports on OKE shares. Argus upgraded shares of 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. TD Cowen dropped their target price on ONEOK from $78.00 to $76.00 and set a “hold” rating for the company in a report on Thursday, October 30th. Citigroup cut their target price 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. Barclays cut their price target on shares of ONEOK from $83.00 to $78.00 and set an “equal weight” rating on the stock in a report on Thursday, October 9th. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $82.00 price objective (down previously from $100.00) on shares of ONEOK in a report on Friday, October 24th. One 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 company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $91.94.

ONEOK Stock Up 2.3%

OKE stock opened at $67.82 on Friday. ONEOK, Inc. has a fifty-two week low of $64.02 and a fifty-two week high of $118.07. The company has a market capitalization of $42.67 billion, a price-to-earnings ratio of 12.47, a price-to-earnings-growth ratio of 2.62 and a beta of 1.05. The business’s 50 day moving average price is $71.08 and its two-hundred day moving average price is $77.35. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.46 and a current ratio of 0.90.

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 company had revenue of $9.17 billion for the quarter, compared to analyst estimates of $8.23 billion. ONEOK had a return on equity of 15.12% and a net margin of 10.58%.During the same period in the previous year, the company posted $1.18 earnings per share. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. As a group, 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 paid a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 6.1%. The ex-dividend date is Monday, November 3rd. ONEOK’s dividend payout ratio (DPR) is presently 75.74%.

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.