Cherokee Insurance Co Acquires New Position in ONEOK, Inc. $OKE

Cherokee Insurance Co bought a new position in shares of ONEOK, Inc. (NYSE:OKE) during the second quarter, HoldingsChannel reports. The firm bought 78,515 shares of the utilities provider’s stock, valued at approximately $6,409,000. ONEOK makes up about 2.8% of Cherokee Insurance Co’s holdings, making the stock its 9th biggest holding.

Other institutional investors have also made changes to their positions in the company. Access Investment Management LLC acquired a new position in ONEOK in the second quarter worth $33,000. Financial Network Wealth Advisors LLC raised its holdings in shares of ONEOK by 2,466.7% during the first quarter. Financial Network Wealth Advisors LLC now owns 385 shares of the utilities provider’s stock worth $38,000 after purchasing an additional 370 shares during the period. Trust Co. of Toledo NA OH bought a new position in shares of ONEOK in the 2nd quarter worth about $42,000. Cheviot Value Management LLC acquired a new position in shares of ONEOK in the 1st quarter valued at about $46,000. Finally, CNB Bank bought a new stake in shares of ONEOK during the 2nd quarter valued at about $51,000. 69.13% of the stock is currently owned by institutional investors.

ONEOK Trading Down 0.4%

NYSE:OKE opened at $68.82 on Thursday. The stock has a market cap of $43.30 billion, a price-to-earnings ratio of 12.65, a PEG ratio of 2.62 and a beta of 1.05. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.46 and a current ratio of 0.90. ONEOK, Inc. has a 1 year low of $64.02 and a 1 year high of $118.07. The business has a fifty day moving average of $70.54 and a 200-day moving average of $76.85.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Tuesday, October 28th. The utilities provider reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.48 by $0.01. The business had revenue of $9.17 billion during the quarter, compared to the consensus estimate of $8.23 billion. ONEOK had a net margin of 10.58% and a return on equity of 15.12%. During the same quarter in the prior year, the company posted $1.18 earnings per share. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. Equities analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Monday, November 3rd will be issued a $1.03 dividend. The ex-dividend date is Monday, November 3rd. This represents a $4.12 annualized dividend and a dividend yield of 6.0%. ONEOK’s dividend payout ratio (DPR) is 75.74%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Mizuho cut their target price on shares of 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 restated a “neutral” rating and set a $72.00 price objective on shares of ONEOK in a research report on Monday, November 3rd. Stifel Nicolaus set a $94.00 price objective on ONEOK in a research note on Thursday, October 30th. Scotiabank cut their target price on ONEOK from $88.00 to $87.00 and set a “sector outperform” rating on the stock in a research note on Tuesday, November 4th. Finally, Wells Fargo & Company lowered their price target on shares of ONEOK from $90.00 to $82.00 and set an “equal weight” rating for the company in a research report on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have given 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 price target of $91.94.

Insider Activity at ONEOK

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

About ONEOK

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.