ONEOK, Inc. $OKE Shares Sold by Fractal Investments LLC

Fractal Investments LLC cut its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 17.8% in the third quarter, HoldingsChannel reports. The firm owned 207,693 shares of the utilities provider’s stock after selling 45,064 shares during the period. ONEOK accounts for about 2.2% of Fractal Investments LLC’s holdings, making the stock its 14th biggest holding. Fractal Investments LLC’s holdings in ONEOK were worth $15,155,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. City Holding Co. acquired a new position in shares of ONEOK in the 3rd quarter valued at about $28,000. Global Wealth Strategies & Associates acquired a new stake in ONEOK during the third quarter worth about $29,000. Financial Consulate Inc. purchased a new position in ONEOK during the third quarter valued at approximately $29,000. Access Investment Management LLC purchased a new position in ONEOK during the second quarter valued at approximately $33,000. Finally, Twin Peaks Wealth Advisors LLC acquired a new position in ONEOK in the second quarter valued at approximately $34,000. 69.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Stifel Nicolaus set a $94.00 price objective on shares of ONEOK in a research note on Thursday, October 30th. Argus raised shares of ONEOK from a “hold” rating to a “buy” rating and set a $79.00 price target on the stock in a report on Thursday, November 6th. TD Cowen cut their price objective on shares of ONEOK from $78.00 to $76.00 and set a “hold” rating for the company in a report on Thursday, October 30th. 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. Finally, UBS Group reissued a “buy” rating on shares of ONEOK in a research note on Wednesday, January 7th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.00.

ONEOK Price Performance

Shares of NYSE OKE opened at $72.53 on Tuesday. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.75 and a current ratio of 0.90. The firm has a fifty day moving average of $71.79 and a 200 day moving average of $73.82. The firm has a market cap of $45.64 billion, a PE ratio of 13.33, a PEG ratio of 4.06 and a beta of 0.94. ONEOK, Inc. has a one year low of $64.02 and a one year high of $111.02.

ONEOK (NYSE:OKE) last announced its earnings results on Tuesday, October 28th. The utilities provider reported $1.49 earnings per share (EPS) for the quarter, beating 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 business had revenue of $8.63 billion for the quarter, compared to analyst estimates of $8.23 billion. During the same quarter last year, the business earned $1.18 earnings per share. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. As a group, research analysts predict that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Announces Dividend

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

Insider Activity at ONEOK

In other news, Director Brian L. Derksen acquired 2,500 shares of ONEOK stock in a transaction that occurred on Monday, November 3rd. The stock was purchased at an average cost of $66.00 per share, with a total value of $165,000.00. Following the purchase, 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.20% of the company’s stock.

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.