St. James Investment Company LLC Buys 351,556 Shares of ONEOK, Inc. $OKE

St. James Investment Company LLC raised its position in ONEOK, Inc. (NYSE:OKE) by 10,934.9% in the 3rd quarter, Holdings Channel reports. The fund owned 354,771 shares of the utilities provider’s stock after purchasing an additional 351,556 shares during the period. ONEOK accounts for 4.1% of St. James Investment Company LLC’s holdings, making the stock its 9th biggest holding. St. James Investment Company LLC’s holdings in ONEOK were worth $25,888,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the company. Norges Bank purchased a new position in shares of ONEOK in the second quarter valued at $562,832,000. First Eagle Investment Management LLC lifted its holdings in ONEOK by 130.8% in the 2nd quarter. First Eagle Investment Management LLC now owns 6,256,173 shares of the utilities provider’s stock worth $510,691,000 after buying an additional 3,545,256 shares in the last quarter. Boston Partners boosted its position in ONEOK by 53.7% in the 2nd quarter. Boston Partners now owns 5,509,100 shares of the utilities provider’s stock valued at $448,476,000 after buying an additional 1,924,864 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of ONEOK by 1.7% during the second quarter. Vanguard Group Inc. now owns 76,510,971 shares of the utilities provider’s stock valued at $6,245,591,000 after acquiring an additional 1,314,002 shares in the last quarter. Finally, Man Group plc lifted its stake in shares of ONEOK by 292.1% in the second quarter. Man Group plc now owns 1,558,993 shares of the utilities provider’s stock worth $127,261,000 after acquiring an additional 1,161,352 shares in the last quarter. 69.13% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at ONEOK

In other news, Director Brian L. Derksen purchased 2,500 shares of ONEOK stock in a transaction dated Monday, November 3rd. The stock was bought at an average price of $66.00 per share, with a total value of $165,000.00. Following the completion of the acquisition, the director owned 21,200 shares in the company, valued at $1,399,200. The trade was a 13.37% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.20% of the company’s stock.

ONEOK Stock Performance

Shares of NYSE OKE opened at $74.46 on Tuesday. The company has a quick ratio of 0.75, a current ratio of 0.90 and a debt-to-equity ratio of 1.44. The firm’s 50-day moving average price is $72.55 and its two-hundred day moving average price is $73.57. ONEOK, Inc. has a 52-week low of $64.02 and a 52-week high of $111.02. The stock has a market capitalization of $46.85 billion, a P/E ratio of 13.69, a P/E/G ratio of 4.15 and a beta of 0.94.

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

Wall Street Analyst Weigh In

OKE has been the subject of a number of research analyst reports. The Goldman Sachs Group restated a “neutral” rating and issued a $72.00 price target on shares of ONEOK in a research note on Monday, November 3rd. TD Cowen decreased their price objective on shares of ONEOK from $78.00 to $76.00 and set a “hold” rating for the company in a report on Thursday, October 30th. Stifel Nicolaus set a $94.00 price target on shares of ONEOK in a research report on Thursday, October 30th. Wells Fargo & Company lowered their price objective on ONEOK from $90.00 to $82.00 and set an “equal weight” rating for the company in a report on Thursday, October 30th. Finally, Barclays cut their price objective on ONEOK from $78.00 to $76.00 and set an “equal weight” rating on the stock in a research note on Thursday. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $88.14.

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.