Geode Capital Management LLC grew its stake in shares of ONEOK, Inc. (NYSE:OKE – Free Report) by 3.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,596,172 shares of the utilities provider’s stock after buying an additional 518,746 shares during the period. Geode Capital Management LLC owned 2.64% of ONEOK worth $1,215,107,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently modified their holdings of the company. National Pension Service grew its holdings in shares of ONEOK by 2.9% in the third quarter. National Pension Service now owns 857,949 shares of the utilities provider’s stock valued at $62,605,000 after purchasing an additional 24,003 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of ONEOK by 1.6% in the third 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 in the last quarter. Jones Financial Companies Lllp grew its holdings in shares of ONEOK by 29.6% in the third quarter. Jones Financial Companies Lllp now owns 534,285 shares of the utilities provider’s stock valued at $39,401,000 after purchasing an additional 121,891 shares in the last quarter. Capital Management Corp VA grew its holdings in shares of ONEOK by 49.2% in the third quarter. Capital Management Corp VA now owns 228,882 shares of the utilities provider’s stock valued at $16,702,000 after purchasing an additional 75,450 shares in the last quarter. Finally, WBI Investments LLC grew its holdings in shares of ONEOK by 221.5% in the third quarter. WBI Investments LLC now owns 35,768 shares of the utilities provider’s stock valued at $2,610,000 after purchasing an additional 24,643 shares in the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of research analysts recently weighed in on the stock. Wells Fargo & Company cut their target price on shares of ONEOK from $100.00 to $98.00 and set an “overweight” rating for the company in a report on Thursday, April 30th. Wolfe Research lowered shares of ONEOK from an “outperform” rating to a “peer perform” rating in a report on Wednesday, February 25th. Citigroup raised their target price on shares of ONEOK from $95.00 to $97.00 and gave the company a “buy” rating in a report on Thursday, May 7th. TD Cowen lifted their price objective on shares of ONEOK from $80.00 to $85.00 and gave the stock a “hold” rating in a research note on Thursday, April 30th. Finally, Barclays boosted their price objective on shares of ONEOK from $82.00 to $90.00 and gave the company an “equal weight” rating in a research report on Thursday, April 30th. Eight investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, ONEOK currently has a consensus rating of “Hold” and an average target price of $91.88.
ONEOK Trading Down 3.4%
OKE stock opened at $84.05 on Friday. The company has a quick ratio of 0.56, a current ratio of 0.71 and a debt-to-equity ratio of 1.37. ONEOK, Inc. has a twelve month low of $64.02 and a twelve month high of $96.07. The stock has a market capitalization of $52.95 billion, a price-to-earnings ratio of 14.98, a price-to-earnings-growth ratio of 6.46 and a beta of 0.78. The firm’s fifty day simple moving average is $88.85 and its two-hundred day simple moving average is $81.26.
ONEOK (NYSE:OKE – Get Free Report) last posted its quarterly earnings data on Tuesday, April 28th. The utilities provider reported $1.23 earnings per share for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.07). ONEOK had a net margin of 10.03% and a return on equity of 16.06%. The firm had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $8.23 billion. During the same quarter last year, the firm earned $1.04 EPS. ONEOK has set its FY 2026 guidance at 5.530-5.530 EPS. As a group, analysts anticipate that ONEOK, Inc. will post 5.76 earnings per share for the current year.
ONEOK Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Monday, May 4th were given a dividend of $1.07 per share. The ex-dividend date was Monday, May 4th. This represents a $4.28 dividend on an annualized basis and a yield of 5.1%. ONEOK’s payout ratio is 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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