HBK Sorce Advisory LLC Raises Holdings in ONEOK, Inc. $OKE

HBK Sorce Advisory LLC grew its holdings in ONEOK, Inc. (NYSE:OKE) by 388.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,974 shares of the utilities provider’s stock after buying an additional 15,087 shares during the quarter. HBK Sorce Advisory LLC’s holdings in ONEOK were worth $1,373,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Exchange Traded Concepts LLC lifted its holdings in ONEOK by 7.4% in the third quarter. Exchange Traded Concepts LLC now owns 702,045 shares of the utilities provider’s stock valued at $51,228,000 after acquiring an additional 48,335 shares during the period. Salvus Wealth Management LLC acquired a new stake in shares of ONEOK in the third quarter valued at about $677,000. JBR Co Financial Management Inc boosted its holdings in ONEOK by 0.9% during the third quarter. JBR Co Financial Management Inc now owns 24,183 shares of the utilities provider’s stock worth $1,765,000 after buying an additional 208 shares in the last quarter. Seneca House Advisors boosted its holdings in ONEOK by 2.7% during the third quarter. Seneca House Advisors now owns 88,537 shares of the utilities provider’s stock worth $6,461,000 after buying an additional 2,311 shares in the last quarter. Finally, Foster Victor Wealth Advisors LLC grew its position in ONEOK by 24.6% during the third quarter. Foster Victor Wealth Advisors LLC now owns 240,498 shares of the utilities provider’s stock worth $17,530,000 after buying an additional 47,501 shares during the period. Institutional investors and hedge funds own 69.13% of the company’s stock.

Insider Activity

In other news, Director Brian L. Derksen acquired 2,500 shares of ONEOK stock in a transaction that occurred on Monday, November 3rd. The shares were acquired at an average price of $66.00 per share, with a total value of $165,000.00. Following the completion of the purchase, the director owned 21,200 shares of the company’s stock, valued at approximately $1,399,200. This represents a 13.37% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.21% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on OKE shares. Argus raised ONEOK from a “hold” rating to a “buy” rating and set a $79.00 price target on the stock in a research note on Thursday, November 6th. Scotiabank decreased their target price on ONEOK from $88.00 to $87.00 and set a “sector outperform” rating on the stock in a research report on Tuesday, November 4th. Mizuho lowered their target price on ONEOK from $87.00 to $82.00 and set a “neutral” rating on the stock in a report on Friday, August 29th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $72.00 price target on shares of ONEOK in a research note on Monday, November 3rd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of ONEOK in a research note on Monday. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, ONEOK presently has an average rating of “Moderate Buy” and a consensus price target of $88.00.

ONEOK Stock Performance

NYSE OKE opened at $73.24 on Thursday. 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 fifty-two week low of $64.02 and a fifty-two week high of $111.02. The business has a fifty day moving average of $70.54 and a 200-day moving average of $74.66. The stock has a market cap of $46.08 billion, a price-to-earnings ratio of 13.46, a price-to-earnings-growth ratio of 4.49 and a beta of 0.95.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Tuesday, October 28th. The utilities provider reported $1.49 EPS for the quarter, beating 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 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 company earned $1.18 earnings per share. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. As a group, analysts predict 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 was paid on Friday, November 14th. Stockholders of record on Monday, November 3rd were given a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date of this dividend was Monday, November 3rd. ONEOK’s payout ratio is currently 75.74%.

About ONEOK

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.