ONEOK, Inc. $OKE Shares Purchased by Hennessy Advisors Inc.

by · The Markets Daily

Hennessy Advisors Inc. raised its holdings in ONEOK, Inc. (NYSE:OKE – Free Report) by 4.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 405,654 shares of the utilities provider’s stock after acquiring an additional 18,500 shares during the period. Hennessy Advisors Inc.’s holdings in ONEOK were worth $29,601,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of ONEOK by 1.7% in the second quarter. Vanguard Group Inc. now owns 76,510,971 shares of the utilities provider’s stock valued at $6,245,591,000 after purchasing an additional 1,314,002 shares during the period. Charles Schwab Investment Management Inc. lifted its position in ONEOK by 2.9% during the second quarter. Charles Schwab Investment Management Inc. now owns 21,570,904 shares of the utilities provider’s stock worth $1,760,833,000 after buying an additional 613,674 shares during the period. Geode Capital Management LLC boosted its stake in ONEOK by 2.3% in the 2nd quarter. Geode Capital Management LLC now owns 15,800,797 shares of the utilities provider’s stock worth $1,284,303,000 after buying an additional 355,751 shares during the last quarter. Invesco Ltd. grew its holdings in ONEOK by 0.6% in the 2nd quarter. Invesco Ltd. now owns 8,386,831 shares of the utilities provider’s stock valued at $684,617,000 after buying an additional 46,892 shares during the period. Finally, Norges Bank purchased a new stake in ONEOK in the 2nd quarter valued at about $562,832,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on OKE. Citigroup decreased their target price on shares of ONEOK from $102.00 to $95.00 and set a “buy” rating on the stock in a research report on Friday, October 31st. Argus upgraded ONEOK from a “hold” rating to a “buy” rating and set a $79.00 price objective for the company in a report on Thursday, November 6th. Stifel Nicolaus set a $94.00 target price on ONEOK in a report on Thursday, October 30th. Wells Fargo & Company lowered their price target on ONEOK from $90.00 to $82.00 and set an “equal weight” rating for the company in a research report on Thursday, October 30th. Finally, Raymond James Financial restated 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. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.00.

Read Our Latest Stock Report on ONEOK

ONEOK Stock Down 0.4%

Shares of ONEOK stock opened at $73.52 on Thursday. ONEOK, Inc. has a twelve month low of $64.02 and a twelve month high of $111.02. The stock has a market cap of $46.26 billion, a price-to-earnings ratio of 13.51, a price-to-earnings-growth ratio of 4.51 and a beta of 0.95. The company has a current ratio of 0.90, a quick ratio of 0.75 and a debt-to-equity ratio of 1.44. The company has a fifty day moving average price of $71.04 and a 200 day moving average price of $74.34.

ONEOK (NYSE:OKE – Get Free Report) last issued its quarterly earnings data on Tuesday, October 28th. The utilities provider reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.48 by $0.01. ONEOK had a return on equity of 15.12% and a net margin of 10.58%.The company had revenue of $8.63 billion for the quarter, compared to analysts’ expectations of $8.23 billion. During the same quarter in the previous year, the firm posted $1.18 earnings per share. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. Equities research analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Monday, November 3rd were issued a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 5.6%. The ex-dividend date was Monday, November 3rd. ONEOK’s dividend payout ratio is currently 75.74%.

Insider Transactions at ONEOK

In other news, Director Brian L. Derksen acquired 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, with a total value of $165,000.00. Following the completion of the transaction, the director directly owned 21,200 shares of the company’s stock, valued at $1,399,200. The trade was a 13.37% increase in their ownership of the stock. 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 owned by company insiders.

ONEOK Company Profile

(Free Report)

ONEOK, Inc (NYSE: OKE) is a publicly traded midstream energy company headquartered in Tulsa, Oklahoma. The company owns and operates a portfolio of natural gas and natural gas liquids (NGL) pipelines, processing facilities, fractionators and storage and terminal assets. Its operations are focused on gathering, processing, transporting, fractionating and marketing NGLs and interstate natural gas, providing critical infrastructure that connects hydrocarbon production to refineries, petrochemical plants and other end markets.

ONEOK’s asset base includes pipeline systems and processing plants that move and condition natural gas, along with infrastructure for the transportation, storage and fractionation of NGLs such as ethane, propane and butane.

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