Americana Partners LLC Purchases 836 Shares of ONEOK, Inc. $OKE

Americana Partners LLC raised its position in ONEOK, Inc. (NYSE:OKE) by 0.3% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 266,598 shares of the utilities provider’s stock after purchasing an additional 836 shares during the period. Americana Partners LLC’s holdings in ONEOK were worth $21,762,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of OKE. Vanguard Group Inc. grew its holdings 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. Nuveen LLC bought a new position in ONEOK during the first quarter worth about $440,535,000. Boston Partners acquired a new position in ONEOK in the first quarter valued at about $353,596,000. First Eagle Investment Management LLC increased its holdings in shares of ONEOK by 130.8% in the second quarter. First Eagle Investment Management LLC now owns 6,256,173 shares of the utilities provider’s stock worth $510,691,000 after acquiring an additional 3,545,256 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of ONEOK by 13.8% during 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 purchasing an additional 2,542,449 shares during the period. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. The Goldman Sachs Group reiterated a “neutral” rating and issued a $72.00 price objective on shares of ONEOK in a research report on Monday, November 3rd. Morgan Stanley cut their price target on shares of ONEOK from $122.00 to $110.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 26th. TD Cowen lowered their price objective on shares of ONEOK from $78.00 to $76.00 and set a “hold” rating for the company in a research report on Thursday, October 30th. Wells Fargo & Company dropped their price objective on shares of ONEOK from $90.00 to $82.00 and set an “equal weight” rating on the stock in a report on Thursday, October 30th. Finally, Mizuho reduced their target price on shares of ONEOK from $87.00 to $82.00 and set a “neutral” rating for the company in a research note on Friday, August 29th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $91.94.

ONEOK Stock Performance

OKE opened at $68.15 on Monday. The business’s 50-day simple moving average is $70.92 and its 200 day simple moving average is $77.15. ONEOK, Inc. has a 52-week low of $64.02 and a 52-week high of $118.07. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.46 and a current ratio of 0.90. The firm has a market capitalization of $42.88 billion, a PE ratio of 12.53, a PEG ratio of 2.62 and a beta of 1.05.

ONEOK (NYSE:OKE) last released its quarterly earnings data on Tuesday, October 28th. The utilities provider reported $1.49 EPS for the quarter, beating the consensus estimate of $1.48 by $0.01. The company had revenue of $9.17 billion during the quarter, compared to the consensus estimate of $8.23 billion. ONEOK had a return on equity of 15.12% and a net margin of 10.58%.During the same quarter in the prior year, the firm posted $1.18 EPS. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. As a group, sell-side analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Monday, November 3rd will be paid a dividend of $1.03 per share. The ex-dividend date is Monday, November 3rd. This represents a $4.12 annualized dividend and a dividend yield of 6.0%. ONEOK’s payout ratio is currently 75.74%.

Insider Activity

In other news, Director Brian L. Derksen bought 2,500 shares of the company’s stock in a transaction dated Monday, November 3rd. The shares were bought at an average cost of $66.00 per share, with a total value of $165,000.00. Following the acquisition, the director owned 21,200 shares in the company, valued at $1,399,200. This trade represents a 13.37% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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.