Dockside LLC Invests $1.19 Million in ONEOK, Inc. $OKE

Dockside LLC bought a new position in shares of ONEOK, Inc. (NYSE:OKE – Free Report) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 16,208 shares of the utilities provider’s stock, valued at approximately $1,191,000.

A number of other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of ONEOK by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 77,603,334 shares of the utilities provider’s stock worth $5,703,845,000 after acquiring an additional 380,744 shares during the period. State Street Corp increased its position in shares of ONEOK by 1.7% during the fourth quarter. State Street Corp now owns 38,450,591 shares of the utilities provider’s stock worth $2,826,118,000 after acquiring an additional 648,647 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of ONEOK by 2.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 22,634,512 shares of the utilities provider’s stock worth $1,663,637,000 after acquiring an additional 599,248 shares during the period. Geode Capital Management LLC increased its position in shares of ONEOK by 3.2% during the fourth quarter. Geode Capital Management LLC now owns 16,596,172 shares of the utilities provider’s stock worth $1,215,107,000 after acquiring an additional 518,746 shares during the period. Finally, First Eagle Investment Management LLC increased its holdings in ONEOK by 46.3% during the fourth quarter. First Eagle Investment Management LLC now owns 11,365,304 shares of the utilities provider’s stock valued at $835,350,000 after buying an additional 3,596,089 shares during the period. 69.13% of the stock is owned by hedge funds and other institutional investors.

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ONEOK Stock Performance

Shares of OKE stock opened at $90.40 on Monday. The company’s 50 day moving average is $88.31 and its 200 day moving average is $82.66. 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 52-week low of $64.02 and a 52-week high of $96.07. The firm has a market cap of $56.95 billion, a price-to-earnings ratio of 16.11, a PEG ratio of 6.77 and a beta of 0.74.

ONEOK (NYSE:OKE – Get Free Report) last released its quarterly 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). ONEOK had a return on equity of 16.06% and a net margin of 10.03%.The firm had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $8.23 billion. During the same period in the prior year, the firm posted $1.04 earnings per share. ONEOK has set its FY 2026 guidance at 5.530-5.530 EPS. On average, sell-side analysts anticipate that ONEOK, Inc. will post 5.72 EPS for the current fiscal year.

ONEOK Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Monday, May 4th were issued a $1.07 dividend. This represents a $4.28 annualized dividend and a yield of 4.7%. The ex-dividend date of this dividend was Monday, May 4th. ONEOK’s payout ratio is currently 76.29%.

Wall Street Analyst Weigh In

OKE has been the topic of several research reports. Barclays lifted their price objective on shares of ONEOK from $82.00 to $90.00 and gave the company an “equal weight” rating in a report on Thursday, April 30th. Citigroup lifted their price objective on shares of ONEOK from $95.00 to $97.00 and gave the company a “buy” rating in a report on Thursday, May 7th. JPMorgan Chase & Co. lifted their price objective on shares of ONEOK from $91.00 to $92.00 and gave the company a “neutral” rating in a report on Friday, May 8th. Freedom Capital raised shares of ONEOK from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 5th. Finally, Wells Fargo & Company cut their price objective on shares of ONEOK from $100.00 to $98.00 and set an “overweight” rating on the stock in a report on Thursday, April 30th. Eight research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $91.88.

Check Out Our Latest Stock Report on ONEOK

About ONEOK

(Free Report)

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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