Foster Victor Wealth Advisors LLC Acquires 47,501 Shares of ONEOK, Inc. $OKE

Foster Victor Wealth Advisors LLC increased its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 24.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 240,498 shares of the utilities provider’s stock after purchasing an additional 47,501 shares during the quarter. ONEOK makes up about 1.1% of Foster Victor Wealth Advisors LLC’s investment portfolio, making the stock its 29th biggest holding. Foster Victor Wealth Advisors LLC’s holdings in ONEOK were worth $17,530,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Assetmark Inc. grew its holdings in shares of ONEOK by 84.0% in the 2nd quarter. Assetmark Inc. now owns 4,047 shares of the utilities provider’s stock valued at $330,000 after acquiring an additional 1,848 shares in the last quarter. Morningstar Investment Management LLC raised its holdings in ONEOK by 18.2% during the second quarter. Morningstar Investment Management LLC now owns 27,375 shares of the utilities provider’s stock worth $2,235,000 after acquiring an additional 4,206 shares in the last quarter. Meixler Investment Management Ltd. boosted its position in ONEOK by 134.0% during the second quarter. Meixler Investment Management Ltd. now owns 30,937 shares of the utilities provider’s stock valued at $2,525,000 after purchasing an additional 17,714 shares during the last quarter. Balefire LLC bought a new position in ONEOK in the second quarter valued at approximately $973,000. Finally, Dark Forest Capital Management LP grew its stake in ONEOK by 409.5% in the first quarter. Dark Forest Capital Management LP now owns 40,372 shares of the utilities provider’s stock valued at $4,006,000 after purchasing an additional 32,448 shares in the last quarter. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on OKE shares. Wells Fargo & Company dropped their price objective on ONEOK from $90.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 30th. Barclays lowered their target price on shares of ONEOK from $83.00 to $78.00 and set an “equal weight” rating on the stock in a report on Thursday, October 9th. Stifel Nicolaus set a $94.00 price target on shares of ONEOK in a research note on Thursday, October 30th. Scotiabank decreased 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, Citigroup lowered their price objective 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. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $88.00.

ONEOK Trading Down 0.0%

Shares of ONEOK stock opened at $71.68 on Friday. The company has a debt-to-equity ratio of 1.44, a current ratio of 0.90 and a quick ratio of 0.75. The business has a fifty day simple moving average of $70.32 and a two-hundred day simple moving average of $74.83. ONEOK, Inc. has a 1 year low of $64.02 and a 1 year high of $111.02. The company has a market capitalization of $45.11 billion, a price-to-earnings ratio of 13.18, a P/E/G ratio of 4.38 and a beta of 0.95.

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

ONEOK Dividend Announcement

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 annualized dividend and a yield of 5.7%. The ex-dividend date of this dividend was Monday, November 3rd. ONEOK’s dividend payout ratio is currently 75.74%.

Insiders Place Their Bets

In related news, Director Brian L. Derksen acquired 2,500 shares of the business’s stock in a transaction on Monday, November 3rd. The stock was purchased at an average cost of $66.00 per share, for a total transaction of $165,000.00. Following the completion of the transaction, the director directly owned 21,200 shares of the company’s stock, valued at approximately $1,399,200. The trade was a 13.37% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.21% of the stock is currently owned by corporate insiders.

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.