Dearborn Partners LLC bought a new position in shares of ONEOK, Inc. (NYSE:OKE – Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 86,960 shares of the utilities provider’s stock, valued at approximately $7,860,000.
A number of other hedge funds also recently added to or reduced their stakes in OKE. Yukon Wealth Management Inc. purchased a new position in ONEOK in the 2nd quarter valued at approximately $746,000. Equitable Holdings Inc. increased its position in shares of ONEOK by 6.6% during the second quarter. Equitable Holdings Inc. now owns 41,998 shares of the utilities provider’s stock worth $3,651,000 after acquiring an additional 2,611 shares during the period. Public Employees Retirement System of Ohio increased its position in shares of ONEOK by 0.7% during the second quarter. Public Employees Retirement System of Ohio now owns 187,214 shares of the utilities provider’s stock worth $16,276,000 after acquiring an additional 1,317 shares during the period. MASTERINVEST Kapitalanlage GmbH raised its stake in shares of ONEOK by 47.2% in the second quarter. MASTERINVEST Kapitalanlage GmbH now owns 15,590 shares of the utilities provider’s stock valued at $1,355,000 after acquiring an additional 5,000 shares in the last quarter. Finally, AtlasMark Financial Inc acquired a new stake in shares of ONEOK in the second quarter valued at $219,000. 69.13% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several research analysts recently commented on OKE shares. Weiss Ratings reissued a “buy (b-)” rating on shares of ONEOK in a research note on Thursday, August 13th. Scotiabank lowered 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. Freedom Capital upgraded ONEOK from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 5th. US Capital Advisors downgraded ONEOK from a “strong-buy” rating to a “moderate buy” rating in a research report on Thursday, August 20th. Finally, TD Cowen upped their target price on shares of ONEOK from $85.00 to $90.00 and gave the stock a “hold” rating in a research note on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued 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 “Moderate Buy” and a consensus price target of $91.94.
ONEOK Price Performance
ONEOK stock opened at $94.87 on Friday. The company has a current ratio of 0.74, a quick ratio of 0.59 and a debt-to-equity ratio of 1.34. The company has a fifty day simple moving average of $90.70 and a 200-day simple moving average of $88.67. The stock has a market cap of $59.81 billion, a P/E ratio of 16.36, a price-to-earnings-growth ratio of 2.65 and a beta of 0.73. ONEOK, Inc. has a 12-month low of $64.02 and a 12-month high of $97.90.
ONEOK (NYSE:OKE – Get Free Report) last posted its earnings results on Monday, August 3rd. The utilities provider reported $1.53 EPS for the quarter, beating the consensus estimate of $1.46 by $0.07. ONEOK had a return on equity of 16.41% and a net margin of 9.29%.The firm had revenue of $12.05 billion for the quarter, compared to analyst estimates of $8.95 billion. During the same quarter in the prior year, the company posted $1.34 earnings per share. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. Equities analysts expect that ONEOK, Inc. will post 5.84 EPS for the current fiscal year.
ONEOK Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Monday, August 3rd were issued a $1.07 dividend. The ex-dividend date was Monday, August 3rd. This represents a $4.28 dividend on an annualized basis and a dividend yield of 4.5%. ONEOK’s dividend payout ratio is presently 73.79%.
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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