Hodges Capital Management Inc. lifted its holdings in ONEOK, Inc. (NYSE:OKE – Free Report) by 3.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 156,497 shares of the utilities provider’s stock after purchasing an additional 5,906 shares during the quarter. Hodges Capital Management Inc.’s holdings in ONEOK were worth $11,503,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently modified their holdings of OKE. Brighton Jones LLC grew its stake in shares of ONEOK by 137.1% in the fourth quarter. Brighton Jones LLC now owns 15,278 shares of the utilities provider’s stock worth $1,534,000 after purchasing an additional 8,834 shares in the last quarter. Empowered Funds LLC grew its stake in shares of ONEOK by 0.8% in the first quarter. Empowered Funds LLC now owns 17,957 shares of the utilities provider’s stock worth $1,782,000 after purchasing an additional 137 shares in the last quarter. Acadian Asset Management LLC bought a new position in shares of ONEOK in the first quarter worth $216,000. Federated Hermes Inc. grew its stake in shares of ONEOK by 14.0% in the second quarter. Federated Hermes Inc. now owns 3,120 shares of the utilities provider’s stock worth $255,000 after purchasing an additional 383 shares in the last quarter. Finally, NewEdge Advisors LLC grew its stake in shares of ONEOK by 3.9% in the second quarter. NewEdge Advisors LLC now owns 130,347 shares of the utilities provider’s stock worth $10,640,000 after purchasing an additional 4,902 shares in the last quarter. Institutional investors own 69.13% of the company’s stock.
Analyst Upgrades and Downgrades
OKE has been the subject of several research reports. Jefferies Financial Group raised their target price on ONEOK from $98.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, April 8th. Mizuho set a $89.00 target price on ONEOK in a research note on Monday, February 23rd. Barclays raised their target price on ONEOK from $82.00 to $90.00 and gave the company an “equal weight” rating in a research note on Thursday, April 30th. Royal Bank Of Canada raised their target price on ONEOK from $79.00 to $84.00 and gave the company a “sector perform” rating in a research note on Thursday, March 19th. Finally, Wolfe Research cut ONEOK from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, February 25th. Eight investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $91.88.
ONEOK Trading Up 3.3%
Shares of OKE stock opened at $90.70 on Thursday. The stock has a 50-day simple moving average of $88.28 and a 200 day simple moving average of $82.39. ONEOK, Inc. has a fifty-two week low of $64.02 and a fifty-two week high of $96.07. The stock has a market capitalization of $57.14 billion, a P/E ratio of 16.17, a P/E/G ratio of 6.56 and a beta of 0.74. 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 (NYSE:OKE – Get Free Report) last announced its earnings results on Tuesday, April 28th. The utilities provider reported $1.23 EPS for the quarter, missing the consensus estimate of $1.30 by ($0.07). ONEOK had a net margin of 10.03% and a return on equity of 16.06%. The company had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $8.23 billion. During the same period in the prior year, the company earned $1.04 earnings per share. ONEOK has set its FY 2026 guidance at 5.530-5.530 EPS. On average, sell-side analysts expect that ONEOK, Inc. will post 5.72 earnings per share for the current fiscal year.
ONEOK Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Monday, May 4th were issued a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a dividend yield of 4.7%. 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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