Y Intercept Hong Kong Ltd Acquires 54,444 Shares of ONEOK, Inc. $OKE

Y Intercept Hong Kong Ltd raised its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 139.0% in the 3rd quarter, Holdings Channel.com reports. The firm owned 93,608 shares of the utilities provider’s stock after buying an additional 54,444 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in ONEOK were worth $6,831,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. City Holding Co. purchased a new position in ONEOK in the third quarter worth about $28,000. Global Wealth Strategies & Associates bought a new stake in shares of ONEOK in the 3rd quarter valued at approximately $29,000. Financial Consulate Inc. purchased a new position in shares of ONEOK in the 3rd quarter worth approximately $29,000. Access Investment Management LLC bought a new position in shares of ONEOK during the 2nd quarter valued at approximately $33,000. Finally, Twin Peaks Wealth Advisors LLC bought a new position in shares of ONEOK during the 2nd quarter valued at approximately $34,000. 69.13% of the stock is currently owned by institutional investors.

ONEOK Stock Down 0.7%

Shares of NYSE:OKE opened at $78.02 on Friday. The business’s 50 day moving average is $73.12 and its 200 day moving average is $73.49. The stock has a market cap of $49.09 billion, a P/E ratio of 14.34, a price-to-earnings-growth ratio of 4.42 and a beta of 0.94. ONEOK, Inc. has a 52-week low of $64.02 and a 52-week high of $105.86. The company has a quick ratio of 0.75, a current ratio of 0.90 and a debt-to-equity ratio of 1.44.

ONEOK (NYSE:OKE) last issued its earnings results on Tuesday, October 28th. The utilities provider reported $1.49 earnings per share 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 business 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 company posted $1.18 EPS. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. Sell-side analysts predict that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Monday, February 2nd will be paid a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a yield of 5.5%. This is a boost from ONEOK’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend is Monday, February 2nd. ONEOK’s payout ratio is currently 78.68%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on OKE. Scotiabank restated an “outperform” rating and issued a $91.00 price target on shares of ONEOK in a research report on Friday, January 16th. Raymond James Financial reissued an “outperform” rating and issued a $82.00 price objective (down from $100.00) on shares of ONEOK in a research report on Friday, October 24th. Wells Fargo & Company dropped their target price 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. TD Cowen cut their target price on ONEOK from $78.00 to $76.00 and set a “hold” rating on the stock in a research note on Thursday, October 30th. Finally, Citigroup dropped their price objective on ONEOK from $102.00 to $95.00 and set a “buy” rating for the company in a report on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $88.56.

Insider Transactions at ONEOK

In other ONEOK news, Director Brian L. Derksen bought 2,500 shares of the business’s stock in a transaction on Monday, November 3rd. The shares were acquired at an average price of $66.00 per share, with a total value of $165,000.00. Following the transaction, the director owned 21,200 shares of the company’s stock, valued at approximately $1,399,200. This trade represents a 13.37% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.21% of the stock is currently owned by insiders.

About ONEOK

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.