Thompson Davis & CO. Inc. Purchases New Stake in ONEOK, Inc. $OKE

Thompson Davis & CO. Inc. acquired a new position in shares of ONEOK, Inc. (NYSE:OKE) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,500 shares of the utilities provider’s stock, valued at approximately $204,000.

A number of other hedge funds have also recently made changes to their positions in the business. Bogart Wealth LLC boosted its stake in ONEOK by 3.1% during the 2nd quarter. Bogart Wealth LLC now owns 4,031 shares of the utilities provider’s stock valued at $329,000 after purchasing an additional 122 shares during the last quarter. Presima Securities ULC raised its stake in shares of ONEOK by 1.4% in the first quarter. Presima Securities ULC now owns 9,477 shares of the utilities provider’s stock worth $940,000 after purchasing an additional 127 shares during the last quarter. Clearstead Trust LLC lifted its holdings in shares of ONEOK by 5.0% in the first quarter. Clearstead Trust LLC now owns 2,792 shares of the utilities provider’s stock valued at $277,000 after purchasing an additional 133 shares in the last quarter. Empowered Funds LLC boosted its position in shares of ONEOK by 0.8% during the first quarter. Empowered Funds LLC now owns 17,957 shares of the utilities provider’s stock valued at $1,782,000 after buying an additional 137 shares during the last quarter. Finally, MJT & Associates Financial Advisory Group Inc. grew its holdings in ONEOK by 5.8% during the second quarter. MJT & Associates Financial Advisory Group Inc. now owns 2,540 shares of the utilities provider’s stock worth $207,000 after buying an additional 140 shares in the last quarter. 69.13% of the stock is currently owned by institutional investors and hedge funds.

ONEOK Price Performance

Shares of NYSE OKE opened at $69.38 on Friday. The firm has a market cap of $43.66 billion, a price-to-earnings ratio of 12.75, a price-to-earnings-growth ratio of 2.62 and a beta of 1.05. The stock has a fifty day simple moving average of $70.44 and a two-hundred day simple moving average of $76.79. The company has a current ratio of 0.90, a quick ratio of 0.46 and a debt-to-equity ratio of 1.44. ONEOK, Inc. has a 1-year low of $64.02 and a 1-year high of $118.07.

ONEOK (NYSE:OKE) last issued its quarterly earnings results on Tuesday, October 28th. The utilities provider reported $1.49 EPS for the quarter, beating analysts’ consensus estimates of $1.48 by $0.01. ONEOK had a return on equity of 15.12% and a net margin of 10.58%.The firm had revenue of $8.63 billion for the quarter, compared to analysts’ expectations of $8.23 billion. During the same quarter in the prior year, the firm earned $1.18 EPS. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. Analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current 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 paid a $1.03 dividend. The ex-dividend date is Monday, November 3rd. This represents a $4.12 annualized dividend and a dividend yield of 5.9%. ONEOK’s dividend payout ratio (DPR) is presently 75.74%.

Insider Activity

In other ONEOK news, Director Brian L. Derksen purchased 2,500 shares of the stock in a transaction dated Monday, November 3rd. The shares were bought at an average price of $66.00 per share, with a total value of $165,000.00. Following the completion of the transaction, the director directly owned 21,200 shares in the company, valued at approximately $1,399,200. This trade represents a 13.37% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.21% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on OKE. Barclays dropped their price objective on ONEOK from $83.00 to $78.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 9th. Royal Bank Of Canada cut their price target on shares of ONEOK from $94.00 to $88.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 13th. Morgan Stanley decreased their price objective 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. The Goldman Sachs Group reissued a “neutral” rating and set a $72.00 target price on shares of ONEOK in a research report on Monday, November 3rd. Finally, Mizuho cut their target price on ONEOK from $87.00 to $82.00 and set a “neutral” rating on the stock in a research note on Friday, August 29th. One equities research 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 stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $91.94.

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.