Harmony Asset Management LLC lowered its stake in shares of ONEOK, Inc. (NYSE:OKE – Free Report) by 47.2% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 15,991 shares of the utilities provider’s stock after selling 14,293 shares during the period. Harmony Asset Management LLC’s holdings in ONEOK were worth $1,175,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in ONEOK by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 77,603,334 shares of the utilities provider’s stock valued at $5,703,845,000 after acquiring an additional 380,744 shares during the period. First Eagle Investment Management LLC lifted its stake in ONEOK by 46.3% during the 4th quarter. First Eagle Investment Management LLC now owns 11,365,304 shares of the utilities provider’s stock valued at $835,350,000 after acquiring an additional 3,596,089 shares during the period. Invesco Ltd. lifted its stake in ONEOK by 6.3% during the 3rd quarter. Invesco Ltd. now owns 8,919,098 shares of the utilities provider’s stock valued at $650,827,000 after acquiring an additional 532,267 shares during the period. Dimensional Fund Advisors LP increased its position in shares of ONEOK by 14.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 5,433,178 shares of the utilities provider’s stock valued at $396,462,000 after purchasing an additional 703,834 shares during the last quarter. Finally, Legal & General Group Plc increased its position in shares of ONEOK by 1.6% during the 3rd quarter. Legal & General Group Plc now owns 5,218,376 shares of the utilities provider’s stock valued at $380,785,000 after purchasing an additional 80,683 shares during the last quarter. Institutional investors own 69.13% of the company’s stock.
Wall Street Analyst Weigh In
Several equities research analysts have recently commented on the stock. Wells Fargo & Company reduced their price target on shares of ONEOK from $100.00 to $98.00 and set an “overweight” rating for the company in a research report on Thursday, April 30th. Wolfe Research lowered shares of ONEOK from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, February 25th. UBS Group reduced their price target on shares of ONEOK from $114.00 to $103.00 and set a “buy” rating for the company in a research report on Thursday, January 22nd. Scotiabank lowered shares of ONEOK from a “sector outperform” rating to a “sector perform” rating and reduced their price target for the company from $92.00 to $89.00 in a research report on Thursday, April 30th. Finally, Morgan Stanley upped their price target on shares of ONEOK from $104.00 to $113.00 and gave the company an “overweight” rating in a research report on Tuesday, April 7th. Eight investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $91.88.
ONEOK Trading Down 3.3%
ONEOK stock opened at $92.13 on Thursday. The firm has a 50 day moving average of $88.22 and a 200 day moving average of $80.20. The firm has a market capitalization of $58.04 billion, a price-to-earnings ratio of 16.42, a P/E/G ratio of 6.92 and a beta of 0.78. ONEOK, Inc. has a 12-month low of $64.02 and a 12-month high of $96.07. The company has a current ratio of 0.71, a quick ratio of 0.56 and a debt-to-equity ratio of 1.37.
ONEOK (NYSE:OKE – Get Free Report) last released its earnings results on Tuesday, April 28th. The utilities provider reported $1.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.30 by ($0.07). The firm had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $8.23 billion. ONEOK had a return on equity of 16.06% and a net margin of 10.03%.During the same period in the prior year, the company posted $1.04 earnings per share. ONEOK has set its FY 2026 guidance at 5.530-5.530 EPS. As a group, research analysts predict that ONEOK, Inc. will post 5.76 earnings per share for the current year.
ONEOK Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Monday, May 4th were issued a $1.07 dividend. This represents a $4.28 annualized dividend and a yield of 4.6%. The ex-dividend date of this dividend was Monday, May 4th. ONEOK’s dividend payout ratio is currently 76.29%.
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.
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