SIR Capital Management L.P. purchased a new position in ONEOK, Inc. (NYSE:OKE – Free Report) during the 2nd quarter, Holdings Channel reports. The firm purchased 37,613 shares of the utilities provider’s stock, valued at approximately $3,270,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Zions Bancorporation National Association UT lifted its stake in shares of ONEOK by 73.3% in the fourth quarter. Zions Bancorporation National Association UT now owns 338 shares of the utilities provider’s stock valued at $25,000 after buying an additional 143 shares during the period. Portus Wealth Advisors LLC bought a new position in ONEOK during the first quarter valued at about $33,000. Elyxium Wealth LLC bought a new position in ONEOK during the fourth quarter valued at about $29,000. Wilkerson Advisory Group LLC raised its holdings in ONEOK by 51.4% in the 1st quarter. Wilkerson Advisory Group LLC now owns 392 shares of the utilities provider’s stock valued at $35,000 after acquiring an additional 133 shares in the last quarter. Finally, Cornerstone Financial Management LLC acquired a new position in ONEOK in the 4th quarter valued at approximately $29,000. Institutional investors own 69.13% of the company’s stock.
Wall Street Analysts Forecast Growth
OKE has been the topic of a number of research reports. Scotiabank cut ONEOK from a “sector outperform” rating to a “sector perform” rating and lowered their price objective for the company from $92.00 to $89.00 in a research report on Thursday, April 30th. Freedom Capital raised shares of ONEOK from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 5th. Raymond James Financial reaffirmed an “outperform” rating and set a $92.00 price objective on shares of ONEOK in a report on Thursday, April 30th. JPMorgan Chase & Co. lifted 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. Finally, Wall Street Zen raised shares of ONEOK from a “sell” rating to a “hold” rating in a research note on Sunday, August 9th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $91.94.
ONEOK Stock Performance
Shares of NYSE:OKE opened at $93.06 on Tuesday. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.74 and a quick ratio of 0.59. The business’s fifty day moving average price is $90.20 and its two-hundred day moving average price is $88.40. ONEOK, Inc. has a fifty-two week low of $64.02 and a fifty-two week high of $97.90. The stock has a market capitalization of $58.66 billion, a price-to-earnings ratio of 16.05, a price-to-earnings-growth ratio of 2.60 and a beta of 0.73.
ONEOK (NYSE:OKE – Get Free Report) last issued its quarterly earnings data on Monday, August 3rd. The utilities provider reported $1.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.07. ONEOK had a return on equity of 16.41% and a net margin of 9.29%.The company had revenue of $12.05 billion during the quarter, compared to analysts’ expectations of $8.95 billion. During the same period last year, the business earned $1.34 earnings per share. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. As a group, analysts predict that ONEOK, Inc. will post 5.84 EPS for the current fiscal year.
ONEOK Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Monday, August 3rd were given a $1.07 dividend. The ex-dividend date was Monday, August 3rd. This represents a $4.28 dividend on an annualized basis and a yield of 4.6%. ONEOK’s payout ratio is 73.79%.
ONEOK Profile
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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