Creative Financial Designs Inc. ADV Increases Stock Position in ONEOK, Inc. (NYSE:OKE)

Posted by Defense World Staff on Jul 12th, 2023

Creative Financial Designs Inc. ADV lifted its holdings in shares of ONEOK, Inc. (NYSE:OKE – Free Report) by 5.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,200 shares of the utilities provider’s stock after buying an additional 176 shares during the quarter. Creative Financial Designs Inc. ADV’s holdings in ONEOK were worth $203,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of ONEOK during the 1st quarter valued at approximately $896,000. Linden Thomas Advisory Services LLC lifted its stake in ONEOK by 10.6% in the 1st quarter. Linden Thomas Advisory Services LLC now owns 24,796 shares of the utilities provider’s stock worth $1,576,000 after purchasing an additional 2,380 shares in the last quarter. Asset Management One Co. Ltd. lifted its stake in ONEOK by 6.6% in the 1st quarter. Asset Management One Co. Ltd. now owns 245,665 shares of the utilities provider’s stock worth $15,610,000 after purchasing an additional 15,161 shares in the last quarter. Mackenzie Financial Corp lifted its stake in ONEOK by 11.0% in the 1st quarter. Mackenzie Financial Corp now owns 252,410 shares of the utilities provider’s stock worth $16,038,000 after purchasing an additional 25,046 shares in the last quarter. Finally, Inspire Investing LLC lifted its stake in ONEOK by 9.9% in the 1st quarter. Inspire Investing LLC now owns 7,384 shares of the utilities provider’s stock worth $469,000 after purchasing an additional 665 shares in the last quarter. 68.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at ONEOK

In other news, Director Brian L. Derksen purchased 4,900 shares of the company’s stock in a transaction on Wednesday, June 28th. The stock was acquired at an average price of $59.59 per share, with a total value of $291,991.00. Following the transaction, the director now directly owns 18,700 shares of the company’s stock, valued at approximately $1,114,333. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Pierce Norton bought 24,607 shares of the company’s stock in a transaction dated Thursday, June 29th. The stock was purchased at an average cost of $60.96 per share, with a total value of $1,500,042.72. Following the transaction, the chief executive officer now owns 42,017 shares in the company, valued at approximately $2,561,356.32. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Brian L. Derksen bought 4,900 shares of the company’s stock in a transaction dated Wednesday, June 28th. The stock was bought at an average cost of $59.59 per share, with a total value of $291,991.00. Following the completion of the transaction, the director now owns 18,700 shares in the company, valued at approximately $1,114,333. The disclosure for this purchase can be found here. 0.29% of the stock is currently owned by corporate insiders.

ONEOK Price Performance

OKE stock opened at $63.34 on Wednesday. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.92 and a current ratio of 1.18. ONEOK, Inc. has a 52 week low of $50.50 and a 52 week high of $71.57. The firm’s fifty day moving average is $60.13 and its 200 day moving average is $64.12. The firm has a market cap of $28.35 billion, a P/E ratio of 11.95, a P/E/G ratio of 1.82 and a beta of 1.67.

ONEOK (NYSE:OKE – Get Free Report) last released its earnings results on Tuesday, May 2nd. The utilities provider reported $2.34 EPS for the quarter, beating the consensus estimate of $1.81 by $0.53. ONEOK had a net margin of 11.09% and a return on equity of 36.54%. The company had revenue of $4.52 billion for the quarter, compared to analyst estimates of $5.13 billion. During the same quarter last year, the firm earned $0.87 EPS. Research analysts predict that ONEOK, Inc. will post 5.48 earnings per share for the current year.

ONEOK Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, May 15th. Shareholders of record on Monday, May 1st were given a dividend of $0.955 per share. The ex-dividend date of this dividend was Friday, April 28th. This represents a $3.82 annualized dividend and a yield of 6.03%. ONEOK’s payout ratio is currently 72.08%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on OKE. Truist Financial lowered their target price on shares of ONEOK from $71.00 to $66.00 in a research note on Wednesday, May 17th. StockNews.com assumed coverage on shares of ONEOK in a research note on Thursday, May 18th. They issued a “buy” rating on the stock. UBS Group decreased their price target on shares of ONEOK from $82.00 to $81.00 in a report on Monday, May 8th. Barclays decreased their price target on shares of ONEOK from $71.00 to $70.00 in a report on Tuesday, April 18th. Finally, Citigroup raised shares of ONEOK from a “neutral” rating to a “buy” rating and increased their price target for the stock from $71.00 to $72.00 in a report on Tuesday, April 4th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $73.45.

About ONEOK

(Free Report)

ONEOK, Inc, together with its subsidiaries, engages in gathering, processing, fractionation, storage, transportation, and marketing of natural gas and natural gas liquids (NGL) in the United States. It operates through three segments: Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments.