SFE Investment Counsel Has $13.39 Million Stock Position in ONEOK, Inc. $OKE

SFE Investment Counsel increased its position in shares of ONEOK, Inc. (NYSE:OKE) by 16.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 164,059 shares of the utilities provider’s stock after acquiring an additional 22,779 shares during the quarter. ONEOK comprises approximately 2.4% of SFE Investment Counsel’s investment portfolio, making the stock its 9th biggest holding. SFE Investment Counsel’s holdings in ONEOK were worth $13,392,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of OKE. Access Investment Management LLC acquired a new stake in ONEOK in the second quarter worth $33,000. Financial Network Wealth Advisors LLC grew 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 valued at $38,000 after buying an additional 370 shares during the period. Trust Co. of Toledo NA OH bought a new stake in shares of ONEOK in the 2nd quarter valued at $42,000. Cheviot Value Management LLC acquired a new stake in ONEOK during the 1st quarter worth $46,000. Finally, CNB Bank acquired a new stake in ONEOK during the 2nd quarter worth $51,000. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Stock Up 0.5%

Shares of ONEOK stock opened at $68.15 on Friday. The firm has a market cap of $42.88 billion, a PE ratio of 12.53, a P/E/G ratio of 2.62 and a beta of 1.05. The business’s 50 day simple moving average is $70.92 and its 200 day simple moving average is $77.21. 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, Inc. has a 52-week low of $64.02 and a 52-week high of $118.07.

ONEOK (NYSE:OKE) last issued its quarterly earnings results on Tuesday, October 28th. The utilities provider reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.48 by $0.01. ONEOK had a net margin of 10.58% and a return on equity of 15.12%. The company had revenue of $9.17 billion during the quarter, compared to analysts’ expectations of $8.23 billion. During the same period last year, the business earned $1.18 EPS. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. On average, analysts predict 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. Shareholders of record on Monday, November 3rd will be paid a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 6.0%. The ex-dividend date is Monday, November 3rd. ONEOK’s payout ratio is presently 75.74%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Raymond James Financial reissued an “outperform” rating and issued a $82.00 target price (down from $100.00) on shares of ONEOK in a research note on Friday, October 24th. Morgan Stanley cut their price objective on ONEOK from $122.00 to $110.00 and set an “overweight” rating on the stock in a report on Tuesday, August 26th. The Goldman Sachs Group reissued a “neutral” rating and set a $72.00 target price on shares of ONEOK in a research note on Monday, November 3rd. Mizuho dropped their target price on shares of ONEOK from $87.00 to $82.00 and set a “neutral” rating on the stock in a report on Friday, August 29th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of ONEOK in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, ONEOK presently has a consensus rating of “Moderate Buy” and a consensus price target of $91.94.

Insider Buying and Selling

In other ONEOK news, Director Brian L. Derksen purchased 2,500 shares of the business’s stock in a transaction on Monday, November 3rd. The shares were purchased 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 of the company’s stock, valued at $1,399,200. This represents a 13.37% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.21% of the stock is owned by company insiders.

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.