Russell Investments Group Ltd. Acquires 114,893 Shares of ONEOK, Inc. $OKE

Russell Investments Group Ltd. raised its stake in shares of ONEOK, Inc. (NYSE:OKE) by 10.4% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,215,140 shares of the utilities provider’s stock after buying an additional 114,893 shares during the quarter. Russell Investments Group Ltd. owned about 0.19% of ONEOK worth $99,163,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Financial Network Wealth Advisors LLC increased its stake in ONEOK by 2,466.7% in the first quarter. Financial Network Wealth Advisors LLC now owns 385 shares of the utilities provider’s stock valued at $38,000 after acquiring an additional 370 shares during the last quarter. Access Investment Management LLC bought a new stake in ONEOK in the second quarter valued at approximately $33,000. Cheviot Value Management LLC bought a new stake in ONEOK during the 1st quarter valued at $46,000. Trust Co. of Toledo NA OH purchased a new stake in shares of ONEOK during the second quarter worth about $42,000. Finally, MTM Investment Management LLC purchased a new stake in ONEOK in the 2nd quarter worth approximately $44,000. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

ONEOK Price Performance

ONEOK stock opened at $71.56 on Thursday. The company has a quick ratio of 0.46, a current ratio of 0.90 and a debt-to-equity ratio of 1.44. ONEOK, Inc. has a 52-week low of $64.02 and a 52-week high of $114.27. The firm’s fifty day moving average is $69.99 and its 200 day moving average is $75.97. The company has a market cap of $45.03 billion, a price-to-earnings ratio of 13.15, a PEG ratio of 2.62 and a beta of 1.05.

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

ONEOK Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Monday, November 3rd were paid a dividend of $1.03 per share. The ex-dividend date was Monday, November 3rd. This represents a $4.12 dividend on an annualized basis and a dividend yield of 5.8%. ONEOK’s dividend payout ratio (DPR) is currently 75.74%.

Insider Activity

In related news, Director Brian L. Derksen bought 2,500 shares of the business’s stock in a transaction on Monday, November 3rd. The shares were bought 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 approximately $1,399,200. This trade represents a 13.37% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.21% of the company’s stock.

Wall Street Analysts Forecast Growth

OKE has been the topic of several research reports. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $72.00 price objective on shares of ONEOK in a research report on Monday, November 3rd. Royal Bank Of Canada reduced their price objective on shares of ONEOK from $94.00 to $88.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 13th. Barclays reduced their target price on ONEOK from $83.00 to $78.00 and set an “equal weight” rating for the company in a report on Thursday, October 9th. Stifel Nicolaus set a $94.00 price objective on shares of ONEOK in a report on Thursday, October 30th. Finally, Wells Fargo & Company reduced their price objective on 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 analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, ONEOK has a consensus rating of “Moderate Buy” and a consensus target price of $89.27.

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.