Foster Victor Wealth Advisors LLC Has $17.53 Million Stock Position in ONEOK, Inc. $OKE

Foster Victor Wealth Advisors LLC grew its holdings in ONEOK, Inc. (NYSE:OKE) by 24.6% in the third quarter, HoldingsChannel reports. The fund owned 240,498 shares of the utilities provider’s stock after buying an additional 47,501 shares during the period. ONEOK accounts for 1.1% of Foster Victor Wealth Advisors LLC’s portfolio, making the stock its 29th largest position. Foster Victor Wealth Advisors LLC’s holdings in ONEOK were worth $17,530,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Brighton Jones LLC raised its stake in ONEOK by 137.1% in the 4th quarter. Brighton Jones LLC now owns 15,278 shares of the utilities provider’s stock worth $1,534,000 after purchasing an additional 8,834 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of ONEOK during the first quarter worth approximately $1,529,000. Banco Bilbao Vizcaya Argentaria S.A. raised its position in shares of ONEOK by 6.7% in the first quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 16,040 shares of the utilities provider’s stock valued at $1,591,000 after buying an additional 1,005 shares in the last quarter. EntryPoint Capital LLC bought a new stake in shares of ONEOK in the first quarter valued at approximately $275,000. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of ONEOK by 2.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,851,770 shares of the utilities provider’s stock valued at $282,954,000 after buying an additional 61,010 shares during the period. 69.13% of the stock is owned by institutional investors.

Insider Transactions at ONEOK

In related news, Director Brian L. Derksen acquired 2,500 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The stock was acquired at an average price of $66.00 per share, with a total value of $165,000.00. Following the purchase, the director directly owned 21,200 shares in the company, valued at approximately $1,399,200. This trade represents a 13.37% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.21% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

OKE has been the topic of a number of recent research reports. The Goldman Sachs Group restated a “neutral” rating and set a $72.00 price objective on shares of ONEOK in a research note on Monday, November 3rd. Citigroup reduced their target price on ONEOK from $102.00 to $95.00 and set a “buy” rating on the stock in a report on Friday, October 31st. Morgan Stanley dropped their price target on ONEOK from $122.00 to $110.00 and set an “overweight” rating for the company in a research note on Tuesday, August 26th. Scotiabank cut their price objective on shares of ONEOK from $88.00 to $87.00 and set a “sector outperform” rating for the company in a research report on Tuesday, November 4th. Finally, TD Cowen decreased their target price on shares of ONEOK from $78.00 to $76.00 and set a “hold” rating on the stock in a report on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, ONEOK has an average rating of “Moderate Buy” and a consensus target price of $88.00.

ONEOK Price Performance

Shares of OKE stock opened at $71.68 on Friday. The company has a quick ratio of 0.75, a current ratio of 0.90 and a debt-to-equity ratio of 1.44. ONEOK, Inc. has a twelve month low of $64.02 and a twelve month high of $111.02. The company has a market cap of $45.11 billion, a P/E ratio of 13.18, a P/E/G ratio of 4.38 and a beta of 0.95. The business has a fifty day simple moving average of $70.32 and a 200 day simple moving average of $74.83.

ONEOK (NYSE:OKE) last released its earnings results on Tuesday, October 28th. The utilities provider reported $1.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.48 by $0.01. The firm had revenue of $8.63 billion for the quarter, compared to analysts’ expectations 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 previous year, the business posted $1.18 earnings per share. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. On average, sell-side analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Monday, November 3rd were given a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 5.7%. The ex-dividend date was Monday, November 3rd. ONEOK’s dividend payout ratio is currently 75.74%.

ONEOK Company Profile

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.