OVERSEA CHINESE BANKING Corp Ltd Invests $211,000 in ONEOK, Inc. $OKE

OVERSEA CHINESE BANKING Corp Ltd bought a new position in shares of ONEOK, Inc. (NYSE:OKE) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 2,582 shares of the utilities provider’s stock, valued at approximately $211,000.

Other hedge funds have also bought and sold shares of the company. Financial Network Wealth Advisors LLC raised its stake in 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 buying an additional 370 shares during the last quarter. MorganRosel Wealth Management LLC bought a new position in ONEOK during the first quarter worth $39,000. Financial Gravity Asset Management Inc. bought a new position in ONEOK during the first quarter worth $40,000. Cheviot Value Management LLC bought a new position in ONEOK during the first quarter worth $46,000. Finally, North Capital Inc. bought a new position in ONEOK during the first quarter worth $48,000. Institutional investors own 69.13% of the company’s stock.

ONEOK Trading Down 0.3%

NYSE:OKE opened at $69.05 on Wednesday. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.59 and a quick ratio of 0.46. The firm has a 50-day moving average of $72.23 and a 200-day moving average of $78.19. The company has a market cap of $43.49 billion, a PE ratio of 13.46, a PEG ratio of 2.70 and a beta of 1.01. ONEOK, Inc. has a one year low of $66.56 and a one year high of $118.07.

ONEOK (NYSE:OKE) last posted its earnings results on Tuesday, October 28th. The utilities provider reported $1.49 EPS for the quarter, topping the consensus estimate of $1.48 by $0.01. The company had revenue of $9.17 billion during the quarter, compared to the consensus estimate of $8.23 billion. ONEOK had a net margin of 11.06% and a return on equity of 14.90%. During the same period in the previous year, the firm posted $1.18 earnings per share. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. As a group, equities research analysts expect that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Dividend Announcement

The firm also recently announced 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. The ex-dividend date of this dividend is Monday, November 3rd. This represents a $4.12 annualized dividend and a dividend yield of 6.0%. ONEOK’s payout ratio is presently 80.31%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Barclays lowered their target price on shares of ONEOK from $83.00 to $78.00 and set an “equal weight” rating for the company in a research note on Thursday, October 9th. Mizuho decreased their price target on shares of ONEOK from $87.00 to $82.00 and set a “neutral” rating for the company in a research note on Friday, August 29th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of ONEOK in a research note on Wednesday, October 8th. TD Cowen assumed coverage on shares of ONEOK in a research note on Monday, July 7th. They issued a “hold” rating and a $91.00 price target for the company. Finally, Morgan Stanley decreased their price target on shares of ONEOK from $122.00 to $110.00 and set an “overweight” rating for the company in a research note on Tuesday, August 26th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $96.40.

ONEOK 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.