Ilmarinen Mutual Pension Insurance Co lifted its position in ONEOK, Inc. (NYSE:OKE – Free Report) by 33.3% in the fourth quarter, HoldingsChannel reports. The firm owned 100,000 shares of the utilities provider’s stock after buying an additional 25,000 shares during the period. Ilmarinen Mutual Pension Insurance Co’s holdings in ONEOK were worth $7,350,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of OKE. Brighton Jones LLC lifted its position in ONEOK by 137.1% in the fourth quarter. Brighton Jones LLC now owns 15,278 shares of the utilities provider’s stock valued at $1,534,000 after buying an additional 8,834 shares during the last quarter. Empowered Funds LLC lifted its position in ONEOK by 0.8% in the first quarter. Empowered Funds LLC now owns 17,957 shares of the utilities provider’s stock valued at $1,782,000 after buying an additional 137 shares during the last quarter. Acadian Asset Management LLC acquired a new position in ONEOK in the first quarter valued at about $216,000. Federated Hermes Inc. lifted its position in ONEOK by 14.0% in the second quarter. Federated Hermes Inc. now owns 3,120 shares of the utilities provider’s stock valued at $255,000 after buying an additional 383 shares during the last quarter. Finally, NewEdge Advisors LLC lifted its position in ONEOK by 3.9% in the second quarter. NewEdge Advisors LLC now owns 130,347 shares of the utilities provider’s stock valued at $10,640,000 after buying an additional 4,902 shares during the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.
Analyst Ratings Changes
A number of research analysts have commented on the stock. Jefferies Financial Group upped their target price on shares of ONEOK from $98.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, April 8th. JPMorgan Chase & Co. upped their target price on shares of ONEOK from $91.00 to $92.00 and gave the company a “neutral” rating in a research report on Friday, May 8th. Wells Fargo & Company decreased their target price on shares of ONEOK from $100.00 to $98.00 and set an “overweight” rating on the stock in a research report on Thursday, April 30th. Raymond James Financial reaffirmed an “outperform” rating and issued a $92.00 target price on shares of ONEOK in a research report on Thursday, April 30th. Finally, Royal Bank Of Canada upped their target price on shares of ONEOK from $79.00 to $84.00 and gave the company a “sector perform” rating in a research report on Thursday, March 19th. Eight research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $91.88.
ONEOK Stock Down 1.2%
Shares of OKE opened at $87.11 on Friday. The stock has a market capitalization of $54.88 billion, a PE ratio of 15.53, a P/E/G ratio of 6.41 and a beta of 0.78. ONEOK, Inc. has a 1 year low of $64.02 and a 1 year high of $96.07. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.56 and a current ratio of 0.71. The company’s 50-day simple moving average is $88.89 and its 200-day simple moving average is $81.24.
ONEOK (NYSE:OKE – Get Free Report) last issued 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). The business had revenue of $9.62 billion for the quarter, compared to analyst estimates 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 EPS. ONEOK has set its FY 2026 guidance at 5.530-5.530 EPS. Analysts forecast that ONEOK, Inc. will post 5.76 earnings per share for the current fiscal year.
ONEOK Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Monday, May 4th were paid a $1.07 dividend. This represents a $4.28 annualized dividend and a yield of 4.9%. The ex-dividend date 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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