Ironwood Investment Counsel LLC Purchases Shares of 6,316 ONEOK, Inc. $OKE

Ironwood Investment Counsel LLC acquired a new position in shares of ONEOK, Inc. (NYSE:OKE) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,316 shares of the utilities provider’s stock, valued at approximately $516,000.

A number of other institutional investors also recently modified their holdings of the company. Assetmark Inc. grew its stake in shares of ONEOK by 84.0% during the second quarter. Assetmark Inc. now owns 4,047 shares of the utilities provider’s stock valued at $330,000 after purchasing an additional 1,848 shares during the last quarter. Morningstar Investment Management LLC lifted its holdings in ONEOK by 18.2% during the 2nd quarter. Morningstar Investment Management LLC now owns 27,375 shares of the utilities provider’s stock worth $2,235,000 after buying an additional 4,206 shares in the last quarter. Dark Forest Capital Management LP boosted its position in ONEOK by 409.5% in the 1st quarter. Dark Forest Capital Management LP now owns 40,372 shares of the utilities provider’s stock valued at $4,006,000 after buying an additional 32,448 shares during the last quarter. Jackson Hole Capital Partners LLC increased its stake in shares of ONEOK by 24.6% in the 2nd quarter. Jackson Hole Capital Partners LLC now owns 81,923 shares of the utilities provider’s stock valued at $6,687,000 after buying an additional 16,151 shares during the period. Finally, Prudent Man Advisors LLC raised its position in shares of ONEOK by 83.2% during the second quarter. Prudent Man Advisors LLC now owns 13,388 shares of the utilities provider’s stock worth $1,093,000 after acquiring an additional 6,082 shares during the last quarter. Institutional investors own 69.13% of the company’s stock.

ONEOK Price Performance

ONEOK stock opened at $68.82 on Thursday. The company has a current ratio of 0.90, a quick ratio of 0.46 and a debt-to-equity ratio of 1.44. The firm has a market capitalization of $43.30 billion, a P/E ratio of 12.65, a PEG ratio of 2.62 and a beta of 1.05. The business has a 50-day moving average of $70.54 and a 200-day moving average of $76.85. ONEOK, Inc. has a 1 year low of $64.02 and a 1 year high of $118.07.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Tuesday, October 28th. The utilities provider reported $1.49 earnings per share for the quarter, beating analysts’ consensus estimates 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 $9.17 billion for the quarter, compared to the consensus estimate of $8.23 billion. During the same period last year, the company posted $1.18 EPS. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. On average, equities analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Dividend Announcement

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

Analyst Upgrades and Downgrades

OKE has been the topic of several recent research reports. Stifel Nicolaus set a $94.00 price target on ONEOK in a report on Thursday, October 30th. Raymond James Financial restated an “outperform” rating and set a $82.00 target price (down from $100.00) on shares of ONEOK in a research report on Friday, October 24th. Citigroup reduced their target price on shares of ONEOK from $102.00 to $95.00 and set a “buy” rating on the stock in a research note on Friday, October 31st. TD Cowen dropped their price target on shares of ONEOK from $78.00 to $76.00 and set a “hold” rating for the company in a research note on Thursday, October 30th. Finally, Morgan Stanley cut their price objective on shares of ONEOK from $122.00 to $110.00 and set an “overweight” rating on the stock in a report on Tuesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, ONEOK presently has an average rating of “Moderate Buy” and an average target price of $91.94.

Insider Activity

In other news, Director Brian L. Derksen purchased 2,500 shares of the firm’s stock in a transaction dated 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 acquisition, the director directly owned 21,200 shares of the company’s stock, valued at approximately $1,399,200. This represents a 13.37% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.21% of the stock is owned by company insiders.

ONEOK Company 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.